Atal Pension Yojana: Atal Pension Yojana (APY) has become very popular in a short span of time.
Atal Pension Yojana: Atal Pension Yojana (APY) has become very popular in a short span of time. It can be estimated from this that in the current financial year 2021-22 till January 24, more than 71 lakh subscribers were added to it, compared to only 23.99 lakh people in the financial year 2016-17, about five years ago. According to the data released by the Pension Fund Regulatory and Development Authority (PFRDA), 71,06,743 subscribers were added under APY till January 21, 2022. This information has been given in the Rajya Sabha by the Union Minister of State for Finance, Dr. BK Karad. During the epidemic, the number of people joining APY increased rapidly. In the financial year 2020-21, more than 79 lakh subscribers were added to this scheme, while in the current financial year till January 24, more than 71 lakh subscribers were added to it.
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The scheme was launched in May 2015
- This scheme was launched on 9 May 2015 as a universal social security system for all Indians, including the poor, the lower sections of the society and the workers of the unorganized sectors.
- This scheme is operational from 1st June 2015 and is administered by PFRD.
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- Under this scheme, all Indian citizens in the age group of 18-40 years can invest who have a savings account in any bank or post office.
- There are five pension slabs under this scheme – one thousand rupees, two thousand rupees, three thousand rupees, four thousand rupees and five thousand rupees. When the subscriber turns 60, the government gives him pension according to the pension slab chosen.
- On the death of the subscriber, the pension amount is given to the nominee.
- Under this scheme, you have to invest at least 20 years.
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- The amount of investment depends on the age of the subscribers, that is, if you take part in the scheme at a young age, you can ensure a pension of up to five thousand rupees in a small amount. It can be understood in such a way that if you take part of the scheme at the age of 18, then by saving only seven rupees every day, you can ensure a pension of 5 thousand rupees on the age of 60, whereas at the age of 40, under the APY At least Rs 145.40 will have to be saved every day and if you become part of the scheme at the age of 18, you will have to contribute Rs 105840 (Rs 210 per month) in 42 years while joining the scheme at the age of 40 years will have to contribute Rs 348960 (1454) Monthly contribution of Rs.
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