Invest Rs 7 in the Atal Pension Scheme and get Rs 5000 every month, know the details!

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Everyone wants to invest their money in a way that ensures consistent returns every month. If you are looking for such a scheme, then here we are introducing you to one such pension scheme. In this scheme, you can deposit only Rs 7 daily and get a monthly pension of Rs 5000. Let us know in details.

This scheme is called Atal Pension Yojana run by the Central Government. This applies to individuals between 18 and 40 years of age. You can invest in this scheme by saving from your daily life and get a pension of Rs 1000 to 5000 per month from the government.

Invest for so many years:

In this scheme, you will have to invest continuously for 20 years. In simple words, if you invest at the age of 40, you will have to deposit money till the age of 60, after which you will start getting a monthly pension. Atal Pension Yojana not only guarantees you a pension but also provides tax benefits of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. However, income taxpayers cannot avail the benefits of this scheme.

The process to receive pension:

Now let us understand the calculation of this pension. If you are 18 years of age or older then you can deposit Rs 7 daily, which is Rs 210 per month. After reaching the age of 60 years you can get a monthly pension of Rs 5000. If you want a pension of Rs 1000 per month then you will have to deposit only Rs 42 per month and your pension will start as soon as you turn 60.

Benefits up to Rs 10,000:

Under this scheme, both husband and wife can avail pension of up to Rs 10,000. If the husband dies before the age of 60, the wife will get a pension. If both the spouses die, the nominee will get the entire amount back.