New Delhi: Are you looking to grow your money? If so, here is an investment plan, promising big returns for those who want to make their money work harder. This scheme, known as the ‘Atal Pension Yojana,’ offers a unique opportunity for investors to potentially increase their savings while keeping risks at a minimum.
Let’s dive in to explore what this scheme has to offer and how it could help you achieve your financial goals. (Also Read: Flipkart Big Billion Days Sale 2023: Discount Offers On Different Models Of Apple iPhone 13)
What Is Atal Pension Yojana (APS)?
The Atal Pension Yojana, a central government program for income security in old age, was introduced in the Budget 2015–16 and is targeted at all residents in the unorganized sector.
The government is working to motivate and facilitate people’s retirement savings. To address the hazards associated with longevity among unorganized sector workers and to motivate them to actively contribute to their retirement.
The National Pension System (NPS) architecture is used by the Pension Fund Regulatory and Development Authority (PFRDA) to manage the program.
Atal Pension Yojana (APS): How Many Monthly One Can Get from It?
A minimum monthly stipend of between Rs 1,000 and Rs 5,000 is guaranteed for subscribers under the Atal stipend Yojana. The Indian government would guarantee the benefit of the minimum pension.
50 percent of the subscriber’s contribution or Rs 1,000 per year, whichever is less, is contributed by the Center. For persons who are not paying income taxes and are not covered by any statutory social security schemes, the government offers co-contribution.
Atal pension Yojana: Age Limit
The Atal Pension Yojana is open to all Indian nationals between the ages of 18 and 40.
Atal Pension Yojana: How To Get Rs 5,000 Monthly Pension From It?
First off, the earlier you begin investing under the plan, the less you need to contribute each month. Anyone who joins at the age of 18 will pay just Rs 210 per month in contributions and will receive a Rs 5,000 guaranteed monthly annuity.