Atal Pension Yojana: Invest Rs. 7 per day and get Rs. 5000 as a pension every month, check out the details

Atal Pension Yojana is successfully running by the Government. This scheme operates by the Insurance regulator Pension Fund Regulatory and Development Authority, especially for the unorganized sector. The Government provides all the benefits related to pension on the scheme.

If you want to procure the benefits from this scheme and want to get a monthly pension of Rs 5000, you need to follow below steps:

  • you need to be in the age bracket of 18-40 years.
  • Under this scheme, you must continue the investment for 20 years. 
  • Your bank account must link with your Aadhaar card for the APY scheme.
  • State Bank of India [SBI] and other regional banks are opening a bank account for the APY scheme.

Get a pension of Rs 5000 per month.

This scheme is majorly developed for the unorganized sector whose income is significantly less to get some fixed income after 60 years; this scheme has come into action. People who do not come in income tax slabs can avail the benefits of this scheme. Under this scheme, the beneficiary can get a minimum of Rs 1000 and a maximum of Rs 5000 per month. If you are above 18years of age, then you can avail the benefit from this scheme.

The amount of investment differs according to age. The sooner you start investing, the lesser you need to invest. 

For example, if you start investing from the age of 18 years, you have to invest Rs 210 per month, Rs 7 per day, to get the pension of Rs. 5000 per month.

If you start investing at the age of 30 years, you have to invest Rs 577, and if you start investing at 39 years of age, you have to invest Rs 1318 per month.

18 years of age 

Monthly investment- Rs 210, Yearly investment – Rs 2,520. 

Investment during the 42nd year- Rs 1,05,840. 

Pension- Rs 5000/month. The nominee will get- Rs 8.5 lakhs

25 years of age 

Monthly investment- Rs 376, Yearly investment- Rs 4512.

Investment during the 35th year- Rs 1,57,920.

Pension- Rs 5000/month. The nominee will get- Rs 8.5 lakh

30 years of age

Monthly investment- Rs 577, Yearly investment- Rs 6924.

Investment during the 30th year- Rs 2,07,720.

Pension after 60 years- Rs 5000 per month. The nominee will get- Rs 8.5lakh

39 years of age

Monthly investment- Rs 1,318, Yearly investment- Rs 1,5816.

Investment during the 21styear- Rs 3,32,136.

Pension after 60 years- Rs 8.5 lakh

If there is a sudden death of a person benefitting from the APY scheme, the family can continue the scheme and avail of the benefits. During the lockdown, the number of beneficiaries from this scheme has increased. According to PFRDA, the rise has been noticed by 23% during the financial year of 31 March 2021 and has reached 4.24 crores. Under the APY scheme, there is a rise of 33%, out of which 77 lakhs are new beneficiaries.

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