Pension Plan : Many people prepare for retirement late. In such a situation, one has to invest more in most pension plans. But we are going to tell you about such a scheme, in which even a 40 year old person can get a huge pension with less investment. The special thing is that this scheme is being run by the government. Many government and private banks are currently offering it.
About the scheme
The name of this government scheme is “Atal Pension Yojana”. Even an 18 year old person can invest in this. At the same time, a person of 40 years of age can also get a pension of up to Rs 3000 with a monthly investment of less than Rs 1000. In this, pension is fixed at Rs 1000, 2000, 3000 and 5000. More than Rs 5 thousand pension cannot be availed. Pension facility starts after the investor completes 60 years of age. In this, tax exemption is also available under section 80CCD (1) of the Income Tax Act. The maturity amount is also tax free.
Penalty for delay in payment
Investors also have to pay fine if there is delay in payment. There is a penalty of Rs 1 for monthly investment of Rs 100, Rs 2 for investment of Rs 100 to Rs 500, Rs 5 for investment of Rs 500-1000 and Rs 10 for investment above Rs 1000.
Here is the calculation
To get a monthly pension of Rs 1000, a 40 year old person has to invest Rs 291 for 20 years. For Rs 2000 pension you will have to invest Rs 582, for Rs 3000 pension you will have to invest Rs 873, for Rs 4000 pension you will have to invest Rs 1164 and for Rs 5000 pension you will have to invest Rs 1454.
Take advantage of the scheme like this
To avail the benefits of Atal Pension Yojana, application form, valid contact number and copy of Aadhar card will be required. You can apply for the scheme by visiting any nearest nationalized bank.
(Disclaimer: The purpose of this article is to share general information only. Newztezz.online does not recommend investing in any scheme/share market/plan.)
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