Invest ₹7 Daily And Earn ₹5000 Monthly Pension: Senior Citizens Scheme Explained
Atal Pension Yojana (APY): Recently, the central government introduced a new pension scheme for government employees called the Unified Pension Scheme (UPS), which guarantees a fixed pension. Employees can choose between staying in the National Pension Scheme (NPS) or switching to UPS. However, for private sector and unorganized sector employees, there are other pension options like EPS-95, NPS, and Atal Pension Yojana (APY). In this article, we will focus on the details of Atal Pension Yojana.
What is Atal Pension Yojana?
Launched by the central government in 2015, the Atal Pension Yojana aims to provide financial security to individuals working in the unorganized sector after retirement. This scheme is designed for low-income individuals, allowing them to contribute a small amount regularly and secure a decent monthly pension upon retirement.
Affordable Contributions for Big Returns
Under the Atal Pension Yojana, if you start investing ₹210 per month from the age of 18, you will receive a pension of ₹5,000 per month for life starting at age 60. This breaks down to a daily contribution of just ₹7, which is cheaper than a cup of tea.
Pension Ranging from ₹1,000 to ₹5,000
Depending on your contributions, the scheme offers a monthly pension of ₹1,000 to ₹5,000. For instance, to receive a monthly pension of ₹1,000, an 18-year-old would only need to contribute ₹42 per month.
Eligibility
Individuals between the ages of 18 and 40 can invest in Atal Pension Yojana. Upon reaching the age of 60, the subscriber is guaranteed a monthly pension ranging from ₹1,000 to ₹5,000, depending on their contributions. In the event of the subscriber’s death, the pension amount is passed on to their spouse.
Managed by PFRDA
Atal Pension Yojana is managed by the Pension Fund Regulatory and Development Authority (PFRDA), ensuring the safety and security of your money as it is a government-backed scheme.
What is Atal Pension Yojana?
Launched by the central government in 2015, the Atal Pension Yojana aims to provide financial security to individuals working in the unorganized sector after retirement. This scheme is designed for low-income individuals, allowing them to contribute a small amount regularly and secure a decent monthly pension upon retirement.
Affordable Contributions for Big Returns
Under the Atal Pension Yojana, if you start investing ₹210 per month from the age of 18, you will receive a pension of ₹5,000 per month for life starting at age 60. This breaks down to a daily contribution of just ₹7, which is cheaper than a cup of tea.
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Pension Ranging from ₹1,000 to ₹5,000
Depending on your contributions, the scheme offers a monthly pension of ₹1,000 to ₹5,000. For instance, to receive a monthly pension of ₹1,000, an 18-year-old would only need to contribute ₹42 per month.
Eligibility
Individuals between the ages of 18 and 40 can invest in Atal Pension Yojana. Upon reaching the age of 60, the subscriber is guaranteed a monthly pension ranging from ₹1,000 to ₹5,000, depending on their contributions. In the event of the subscriber’s death, the pension amount is passed on to their spouse.
Managed by PFRDA
Atal Pension Yojana is managed by the Pension Fund Regulatory and Development Authority (PFRDA), ensuring the safety and security of your money as it is a government-backed scheme.
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