APY Vs NPS: If you are not eligible for Atal Pension Yojana then do not worry, pension will be available in this scheme also...


Atal Pension Yojana Vs National Pension System: To ensure that people continue their income even in old age, the government has launched Atal Pension Yojana. In this scheme, a pension benefit of Rs 5,000 is available every month.


Taxpayers cannot apply for this scheme. Now the question is, what other options do senior citizens have for pension?

Come, today we will tell you that if you are also not eligible to apply for the Atal Pension Scheme, then in which government scheme you can avail the benefit of a pension?

You can invest in National Pension System
The government started the National Pension System in the year 2004. This scheme has been started for the private sector from the year 2009. Those who cannot apply for Atal Pension Yojana can apply for NPS.

NPS is the responsibility of PFRDA. This is a market-linked scheme. In this scheme, the benefit of both retirement fund and pension is available.

How to apply
     To open an NPS account, you will have to search PoP-Point of Presence on Google.
     After this you can go to the nearest PoP and collect the form.
     Now fill out the form and also attach the KYC document and submit it.
     As soon as you start investing in the scheme, you will get a PRAN – Permanent Retirement Account Number.
     You can easily operate an NPS account through a PRAN number.
     Let us tell you that to register in the scheme, registration fees have to be paid.


There are two types of NPS accounts
There are two types of NPS accounts – Tier 1 and Tier 2. Tier 1 is a Retirement Account, while Tier 2 is a Voluntary Account. Tier 1 account requires a minimum investment of Rs 500 and Tier 2 account requires a minimum investment of Rs 1,000.

At the time of retirement, the investor gets 60 percent of the amount from the NPS account, while the remaining 40 percent amount is received as a pension. There is no limit on investment in NPS

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