Planning for a secure and financially stable old age is a concern for everyone. Atal Pension Yojana, a government-run pension scheme, addresses this need by guaranteeing a steady pension. This scheme empowers individuals to invest a small amount daily, paving the way for a comfortable retirement without financial worries.
How Does Atal Pension Yojana Work?
With Atal Pension Yojana, your pension plan spans over at least 20 years, starting as early as 18 years old. If you start investing at 40 years, you can begin receiving your pension at 60. The investment required is as minimal as Rs 210 per month or just Rs 7 per day, making it incredibly accessible.
Assured Pension with Flexible Options
Depending on your investment, you can secure a monthly pension ranging from Rs 1,000 to Rs 5,000. This plan ensures financial independence, alleviating the need for dependency on others during old age. Additionally, both spouses can benefit from this scheme, collectively receiving a pension of up to Rs 10,000 per month. In case of unfortunate events, the nominee receives the accumulated fund, providing financial stability to the family.
Tax Benefits and Eligibility
Apart from the guaranteed pension, investors can enjoy tax exemptions up to Rs 1.5 lakh under Section 80C of the Income Tax Act. To be eligible, an individual must be an Indian citizen aged between 18 and 40. The applicant should possess a valid Aadhar-linked bank account and a mobile number. Notably, individuals paying income tax cannot avail themselves of this scheme post the recent rule change in October 2022.
Join over 5 crore individuals who have embraced the Atal Pension Yojana, securing their post-retirement financial needs. It's more than just a pension; it's your key to a worry-free and fulfilling future.
Invest wisely, secure your future, and embrace financial freedom with Atal Pension Yojana!