APY: This scheme is special for the elderly, Rs 5000 will come into the account every month!

pc: News Nation

If you are constantly worried about managing expenses after retirement, then this news will bring a smile to your face. The government's Atal Pension Yojana ensures a monthly payout of Rs 5,000 at important stages of life without requiring any major investment. You can participate in the scheme by contributing to significant benefits by saving just Rs 7 per day. Lakhs of individuals are already benefiting from Atal Pension Yojana, especially those in retirement.

Atal Pension Yojana was launched by the government in 2015 with a special focus on individuals facing financial challenges after retirement. Despite its launch several years ago, many people are unaware of the scheme and thus are not able to avail of its benefits. As the scheme, launched keeping in mind the well-being of low-income groups, has gained popularity, the Pension Fund Regulatory and Development Authority (PFRDA) has issued circulars to facilitate eligibility checking.

pc: Times Bull

A nominal investment of Rs 7 per day or Rs 210 per month is required to join the scheme. On reaching the age of 60 years, participants can get a monthly pension of Rs 5,000.

pc: Zee Business

Atal Pension Yojana not only provides benefits during one's lifetime but also ensures financial security for the family in the event of the death of the subscriber. The subscriber's spouse can continue to receive instalments and pension can be availed after 60 years. Additionally, in the unfortunate event of the death of the subscriber, the nominee, usually the spouse, can claim the lump sum amount. Additionally, the scheme allows joint participation of both spouses, giving them double benefits, i.e., such investors get a monthly profit of Rs 10,000.