Pension … This word is the support of old age and everyone wants to spend their old age comfortably without any financial trouble after retirement. For this, they also save from their earnings and plan to invest in such a place, so that they do not have to depend on others for their expenses. For such a time, pension is useful, that is, it becomes a source of regular income. If you are young, you can make your old age financially rich by depositing a small amount every month without depending on anyone. The government -run Atal Pension Yojana is very popular in this regard.
Guaranteed pension up to Rs 5000. For this, investing in Atal Pension Yojana will prove to be a profitable deal. This is a pension scheme and the government itself guarantees pension. You can invest in this scheme by saving a little amount every day and according to your investment, you can get a pension of Rs 1,000 to Rs 5,000 every month. That is, your regular income is guaranteed after retirement. The investment age limit in APY scheme is 18 to 40 years.
To invest for 20 years, it is necessary to invest for at least 20 years to get pension under the Atal Pension Yojana. After this your pension starts. In other words, if you invest in this scheme at the age of 40, then you will have to continue investing till the age of 60 years. Investing in APY scheme, you not only get guaranteed pension but also get many other benefits. By investing in this, you can save tax up to Rs 1.5 lakh. This tax benefit is given under Section 80C of Income Tax.
Note: Taxpayers cannot avail this scheme. In this way you will get a pension of 5000 rupees every month. Now let’s talk about calculating the pension you get after investing in this scheme. To understand this, suppose that you are 18 years old, then this scheme gets 210 rupees every month. That is, by depositing only 7 rupees daily, you can take a pension of 5000 rupees every month after 60. At the same time, if you want a pension of Rs 1,000 every month, then you will have to deposit only 42 rupees every month in this scheme. You can also get a pension of Rs 10,000 under this scheme.