APY Pension Yojana: Rs 5000 monthly pension will be available from daily savings of Rs 7, see information here

APY Pension Yojana will receive Rs 5000 monthly pension from daily savings of Rs 7, see information here Atal Pension Yojana (APY) has become very popular in a short time. Its growing popularity can be measured by the fact that its subscriber base has grown by 33 percent during the last financial year. The number of subscribers joining Atal Pension Yojana has exceeded 28 million at the financial year ended 31 March 2021. The Pension Fund Regulatory and Development Authority of India (PFRDA) has provided this information.

APY Pension Yojana

According to the PFRDA, the number of account holders of large systems such as NPS and API increased by 23 percent to 4.24 crore during the financial year ended March 31, 2021. The number of Atal Pension Yojana account holders increased by about 33 percent and more than 77 lakh new subscribers were added . As of March 31, 2021, the number of account holders of APY was more than 28 million. Total assets under management (AUM) grew by 38 percent to Rs 5.78 lakh crore during the financial year 2020-21.

What is Atal Pension Yojana?APY Pension Yojana,

APY is a guaranteed pension system from the Government of India, operated by the PFRDA. This is mainly for employees in the unorganized sector. The Government of India guarantees the benefits related to the pension received under it. To benefit from this pension system, your age should be at least 18 years old and at most 40 years old. According to this system, investments must be made for at least 20 years. To take advantage of Atal Pension Yojana, it is necessary to have an account in your bank linked to Aadhar cards. Under Atal Pension Yojana, you can be entitled to a pension by depositing less money each month.

Maxpension 5000 Rs

Atal Pension Yojana provides pension from 1000 to 5000 Rs every month. Explain that people between the ages of 18 and 40 can join this system (APY). The contribution to the plan is also different for people of different ages. For example, if you are 18 years old, you must contribute 210 Rs a month for a pension of Rs 5000. That is, a daily saving of only 7 Rs and if you are 30 years old, the monthly contribution is 577 Rs, while if you is 39 years old, the monthly allowance is 1318 Rs. Only those people who are outside the income tax plan can benefit from this system.

Atal Pension Yojana (APY) accounts are opened by the State Bank of India (SBI) and private banks participating in new APY registration.

Benefits of joining the system early

age 18 years

  • Contribution per month: 210 Rs
  • Annual contribution: 2520 Rs
  • Contribution of 42 years: 105 840 Rs
  • Pension after 60 years: 5000 Rs per month

age 30 years

  • Contribution per month: 577 Rs
  • Annual contribution: 6924 Rs
  • Contribution for 30 years: 207720 Rs
  • Pension after 60 years: 5000 Rs per month

age 39 years

  • Contribution per month: 1318 Rs
  • Annual contribution: Rs 15,816
  • Contribution for 21 years: 332 136 Rs
  • Pension after 60 years: 5000 Rs per month

It is clear that after joining 18 years, 30 years and 39 years, your total contribution will be 105840 Rs, 207720 Rs and 332136 Rs. You are then entitled to a pension of 5000 Rs after the age of 60. But compared to the age of 18, a 39-year-old person has to deposit 3 times and a 30-year-old person has to deposit almost 2 times.

Benefits of APY

You can be entitled to a pension every month after you retire by investing in Atal Pension Yojana. The biggest feature of the APY plan is that there is a provision to continue the benefits to your family in the event of your premature death. Upon the death of the person investing in Atal Pension Yojana (APY), there is a provision for receiving a pension for the children in the event of the death of his wife and wife.

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