Atal Pension Scheme


Are you a married couple and planning for your retirement? If yes, then the Atal Pension Scheme (APY) is one such scheme which provides a decent return on investment.

Under the scheme, the husband and wife can earn about P10,000 per month by opening two separate accounts in the Atal Pension Scheme. Taxpayer couples can apply for tax benefits against their investment in the plan.

Who can invest in the Atal Pension Scheme?

The Atal Pension Scheme was initially launched in 2015. This project was started by the people to secure their future. But now the government allows any Indian citizen under the age of 18 to invest their money in the Atal Pension Scheme.

Citizens who meet the criteria can take advantage of the pension scheme. If you have an account in a bank or post office, you can easily invest in the Atal Pension Scheme. Investors start receiving pensions after 60 years.

Benefits of Atal Pension Scheme

Under the scheme, investors can get a monthly pension of Rs 1,000 or Rs 2000 or Rs 3000 or Rs 4000 or maximum of Rs 5,000 depending on the investment. Aadhaar number and mobile number are essential for investing in Atal Pension Scheme.

Investors can benefit greatly from how quickly they invest under this scheme. If a person joins the Atal Pension Scheme at age 18, then after the age of 60 years, he or she will have to deposit only Rs 210 per month for a monthly pension of Rs 5000 per month.

How to get a 10,000 pension?

Spouses under the age of 30 can open two separate Atal Pension Scheme accounts after 60 years for a total monthly pension of Rs 10,000. To make a profit, they have to invest Rs 577 in their accounts.

Similarly, if husband and wife are 35 years old, they have to deposit Rs 902 per month in APY accounts to get a pension of Rs 10,000 each.

Moreover, investments in the Atal Pension Scheme will help investors get tax benefits up to Rs 1.5 lakh under the Income Tax Act 80C.

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