APY- In this you will get the benefit of tax exemption under section 80CCD of income tax.
New Delhi. Atal Pension Yojana, a social security scheme launched by the Modi government for the people of the unorganized sector, has made a new record. Atal Pension Yojana (APY) is a guaranteed pension scheme backed by the Government of India and administered by PFRDA (Pension Fund Regulatory and Development Authority). PFRDA said that more than 28 lakh new APY accounts have been opened in the current financial year.
Let us tell you that this scheme was started on 9 May 2015. Enrollment under APY has crossed 3.30 crore as on 25 August 2021. As per APY rules, a person in the age group of 18 to 40 years can open an APY account to become eligible for monthly pension. Under this scheme, the subscriber gets a pension of Rs 1,000 to 5,000 depending on the contribution made by him from the retirement age of 60 years. According to PFRDA data, the share of public sector banks (PSBs) in APY’s subscribers is 2.33 crore.
You will get a pension of 5000 rupees every month,
tell that Atal Pension Yojana is a good option to guarantee pension by investing less money. Currently, under the Atal Pension Yojana, the government guarantees a pension of 1000 to 5000 rupees per month after 60 years. Under Atal Pension Yojana, after making a fixed contribution to the account every month, after retirement, a monthly pension of Rs 1 thousand to Rs 5 thousand will be available. The government is giving a guarantee of a lifetime pension of Rs 5000 a month i.e. Rs 60,000 per annum after the age of 60 years after investing only Rs 1,239 every 6 months.
210 rupees will have to be paid every month
According to the existing rules, if at the age of 18 years, maximum 5 thousand rupees are added to the scheme for monthly pension, then you will have to pay 210 rupees every month. If the same money is given every three months, then Rs 626 will have to be given and Rs 1,239 will have to be given if given in six months. To get a pension of Rs 1,000 a month, if you invest at the age of 18, you will have to pay Rs 42 per month.
If you join at
the age of 35 for 5 thousand pension, then you will have to deposit Rs 5,323 every 6 months for 25 years. In such a situation, your total investment will be Rs 2.66 lakh, on which you will get a monthly pension of Rs 5 thousand. Whereas on joining at the age of 18, your total investment will be only 1.04 lakh rupees. That is, for the same pension, about Rs 1.60 lakh more will have to be invested. Under section 80CCD of income tax, it gets the benefit of tax exemption.
