Atal Pension Yojana: Stop worrying about retirement! The Modi government has extended the deadline for the Atal Pension Yojana (APY) until 2031. Now, with a small savings of just ₹210, you can receive a fixed monthly pension of ₹5,000 in old age. Take advantage of this excellent government guarantee for a secure future.

Atal Pension Yojana : If you're also concerned about your old age, the government has made a significant decision for you. In a cabinet meeting held on January 21st, the Atal Pension Yojana (APY) deadline was extended to the financial year 2030-31. This means you can now be a part of this scheme for even longer.

What is special about Atal Pension Yojana?

The biggest benefit of this scheme is that after the age of 60, you receive a fixed monthly pension of between ₹1,000 and ₹5,000. This scheme was launched in 2015 for those who work as laborers or do odd jobs and have no future support.

Who can participate in this?

• Your age should not be less than 18 years and not more than 40 years.
• You will have to invest money in this scheme for at least 20 years.
• You can deposit money once in a month, three months or six months as per your convenience.

How much will I have to invest?

The amount you must deposit each month under the Atal Pension Yojana depends on your age and the pension you choose. If you join at 18, you'll need to pay just ₹42 per month for a ₹1,000 pension and ₹210 per month for a ₹5,000 pension. If you're 40, you'll need to deposit ₹291 per month for a ₹1,000 pension and ₹1,454 per month for a ₹5,000 pension. The younger you start the scheme, the lower your monthly installments.

Eliminate the hassle of going to the bank

Depositing money into this scheme is very easy. Once you fill out the form at the bank, the specified amount is automatically debited from your account (auto-debit). All you need to do is maintain a balance in your account.

What happens if the investor dies?

The government has taken full care of the safety of the family:

• If the account holder dies, his/her spouse will continue to receive the same pension.
• If both of you die, the entire fund accumulated till the age of 60 will be handed over to your heir (nominee).
• If death occurs before the age of 60, the spouse can either continue the account or withdraw the entire deposited amount at once.

 PC:Prabhat Khabar