This government pension scheme got tremendous subscription, only these people can become members

If you have not taken any pension plan to secure your retirement, then ATAL Pension Yojana can be a good option.




If you have not taken any pension plan to secure your retirement, then ATAL Pension Yojana can be a good option. During the current business year, more than 40 lakh people have registered so far. According to the Pension Fund Regulatory and Development Authority (PFRDA), the total number of shareholders in the Atal Pension Yojana has crossed 2.63 crore.

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Under this pension scheme of the government, people from 18 years to 40 years of age can be included. In this, there is a provision for giving a fixed pension amount to the contributors after the age of 60 years or the same guaranteed pension to their spouse after the death of the shareholder.

Apart from this, there is also a provision to return the total accumulated pension fund to Nominee till the age of 60 years. PFRDA said that between 1 April 2020 and 13 November 2020 more than 40 lakh new people have registered in the Atal Pension Yojana.

2 benefits of APY

APY has two benefits, first pension and second income tax exemption. This scheme gives minimum guaranteed monthly pension ranging from 1000 to 5000 rupees to people from the age of 60 years.

Pension Plan for Unorganized Sector

The Modi government started APY in 2015. It was made for the people of the unorganized sector. Its account can be opened at the age of 40 years.

Tax Benefit

You will get income tax rebate on whatever amount you deposit in APY account. For this, the receipt of the deposit in the account has to be shown.

Other than NPS (Other than NPS)

This scheme is different from the National Pension System (NPS). Pension is fixed on the basis of amount deposited in NPS till the age of 60 years whereas in APY, pension is fixed between Rs 1,000 and Rs 5,000. How much pension will be made will depend on the amount you deposit every month.

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