New Delhi: One needs to devise an efficient plan to sustain their retired life. Investment calls for careful planning as there are many investment options pouring into the market. No doubt, most people want to invest in the scheme from where they can get safe, secure and maximum return. But this also needs quality endeavour.
Don’t worry! This is the one-stop destination for you. Scroll ahead to know more details about the scheme you are wondering about. There are many governments and non-government schemes running. Atal Pension Yojana is one of them. You will get Rs 3000 per month as a pension by opening your wife’s account.
What is Atal Pension Yojana(APY)?
APY is a government scheme in which investment is as per your age. You will get a pension ranging from Rs 1,000, 2000, 3000, and Rs 4000 to a maximum of Rs 5,000. This scheme is guaranteed and safe return. (Also Read: Festive frenzy! Google is going to give ‘Diwali surprise’ to Indian users; details here)
Who can invest?
APY is started in 2015. At the time, people from the unorganised sector can invest in the scheme. But now it is open for all the categories of Indian people from the age group of 18 to 40 years. Investors will get a pension after the age of 60 years.
How to get Rs 3000 as a pension?
For instance, if your wife is 25 years old, you have to contribute Rs 226 every month to the APY account. If your wife’s age is 39 years, you have to put Rs 792 in your APY account every month. In addition to the guaranteed monthly pension, if the account holder dies, the nominee will get Rs 5.1 lakh along with full life pension every month.
Benefits of the scheme
To invest in an account, an applicant must have a savings account in a bank or post office. You can have only one Atal Pension Account. The sooner you invest under this scheme, the more benefit you will get. If a person joins the Atal Pension Yojana at the age of 18, after the age of 60, he will have to deposit just Rs 210 per month for a monthly pension of Rs 5000 every month.
Tax benefit
People investing in Atal Pension Yojana get a tax benefit of up to Rs 1.5 lakh under the Income Tax Act 80C. In case of the untimely death of the person who is associated with this scheme, his family continues to get the benefit.
