Winning Bizness Desk

Mumbai. The Atal Pension Yojana of the Central Government becoming fast-popular among the people and the number of beneficiaries joining this scheme has crossed the mark of 4 crores. According to the Pension Fund Regulator (PFRDA), more than 99 lakh accounts were opened in the last financial year, ie FY2021-22, under the Atal Pension Yojana.

Under Atal Pension Yojana, a pension of Rs 1,000 to Rs 5,000 is available every month on attaining 60 years of age. In such a situation, through this scheme, you can give financial security to your old age. We are telling you about this scheme, so that you can also invest in it and arrange pension for yourself.

First, know what is Atal Pension Yojana?

A person from 18 years to 40 years can invest in Atal Pension Yojana. You have to invest at least 20 years in this scheme. To join the scheme, it is necessary to have a savings bank account, Aadhar and an active mobile number.

Your contribution is decided according to your age

How much the amount will be deducted will depend on how much pension you want after retirement. To get a pension of 1 to 5 thousand rupees per month, the subscriber will have to pay 42 to 210 rupees per month. This will happen on taking the scheme at the age of 18 years.

If a subscriber takes the scheme at the age of 40, then he will have to make a contribution ranging from Rs 291 to Rs 1,454 per month. The more contribution the subscriber makes, the more pension he will get after retirement. Apart from this, you will be able to claim tax benefit up to Rs 1.5 lakh under section 80C.

Pay installment as per your convenience

Under this scheme, investors can invest monthly, quarterly or semi-annually i.e. over a period of 6 months. The contribution will be auto-debited, i.e. the amount will be automatically deducted from your account and credited to your pension account.

Open account in any bank

You can open an account in any bank. You will have to fill the form of Atal Pension Yojana and submit it to the bank branch along with the requested documents. After the application is approved, you will get a confirmation message. After that your monthly contribution will be decided based on your age.