Today is the 96th birth anniversary of former Prime Minister Atal Bihari Vajpayee, a pension scheme named after former Prime Minister Atal Bihari Vajpayee, which was launched by the Modi government in 2015. The Modi government launched the Atal Pension Scheme for low-income people in the name of Atal Bihari Vajpayee. This pension plan can be helpful for the elderly.
The Atal Pension Scheme is a very popular pension scheme among the people. Anyone who is not in a government job can avail this scheme. Apart from this those who are already availing schemes like EPF, EPS cannot be a part of Atal Pension Scheme. Under this scheme, a monthly pension of Rs.1000 to Rs.5000 is guaranteed after retirement. Those who want to avail benefits under this pension scheme can open Atal Pension Account through Post Office and Bank.
What should be the age ?
So, it is also necessary to follow some terms and conditions for the pension plan. Age is very important in this pension plan. Only those between the ages of 18 and 40 are eligible for the Atal Pension Scheme. Those under 18 or over 40 cannot join the scheme. Apart from this it is necessary to invest for at least 20 years to avail the benefits of this scheme. Pensions under this scheme start from the age of 60 years.
So in this scheme, according to age, different amount is deposited as investment. The more a person joins the Atal pension scheme, the more benefits he gets. If a person joins this pension scheme at the age of 18, he will have to invest Rs 210 per month and after retirement he will get a pension of Rs 5,000 per month. So, if one joins the scheme after the age of 18, the amount invested every month will also be a little higher according to his age.
What happens when death occurs ?
If the person involved in the scheme dies prematurely, then there is a provision to continue to benefit his family. If a person associated with the Atal Pension Scheme dies, there is a provision for his wife to receive a pension. On the other hand, if the wife dies, there is a provision for the children to get a pension in such a situation. Apart from this, only those who are outside the income tax slab will be able to avail the benefits of Atal Pension Scheme. To avail this scheme, a bank account is required and the bank account should be linked to the Aadhaar card.
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