Utility News Desk!!! Pension…this word is the support of old age and everyone wants to spend their old age comfortably after retirement without any financial problems. 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 times, pension comes in handy i.e. it becomes a source of regular income. If you are young, you can make your old age financially prosperous by depositing a small amount every month without being dependent 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 pension is guaranteed by the government itself. You can invest in this scheme by saving a small amount every day and depending on your investment, you can get a pension of Rs 1,000 to Rs 5,000 every month. That means your regular income after retirement is guaranteed. The age limit for investing in APY scheme is 18 to 40 years.
To get pension under Atal Pension Yojana, it is necessary to invest for at least 20 years. After this your pension starts. In other words, if you invest in this scheme at the age of 40, you will have to continue investing till the age of 60. By 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 the benefits of this scheme. In this way you will get a pension of Rs 5000 every month. Now let’s talk about the calculation of the pension you will get after investing in this scheme. To understand this, suppose your age is 18 years, then you get Rs 210 every month in this scheme. That means by depositing just Rs 7 daily, you can take a pension of Rs 5000 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 Rs 42 every month in this scheme. Under this scheme you can also get a pension of Rs 10000.
