Anyone with a steady income wants to invest in a scheme or a financial instrument that helps them after their retirement and something that guarantees them good returns. If you are looking for something like that then you can invest in the Atal Pension Yojana.
For the unversed, the Atal Pension Yojana, formerly known as Swavalamban Yojana is a government-backed pension scheme that was launched by Prime Minister Narendra Modi on 9 May 2015 in Kolkata.
Any Indian that works in an unorganised sector like mining, manufacturing, construction, etc and in between the age of 18-40 years can avail the benefits of this scheme. The investors start receiving the benefits as soon as they retire or turn 60.
People above 60 receive a monthly pension until they die. In case, if the investor dies and is survived by a spouse, then they continue to receive the pension till their death. If the investor is not survived by anyone then the entire amount gets transferred to the nominee in the scheme.
Ways to get Rs 5,000 by just investing Rs 210 per month
Investors get an option under the Atal Pension Yojana of selecting how much pension they want to receive once they retire which can be a minimum of Rs 1,000 or a maximum of Rs 5,000 monthly.
If the investor wants to receive Rs 5,000 after retirement then they need to start investing at the age of 18 with Rs 210 per month in the Atal Pension Yojana. Just like that, investors of 20 or 25 will need to invest more than Rs 210 that is - Rs 248 and Rs 376 respectively. The amount increase with the age.
