Senior Citizen Best Pension Scheme: The government established the Atal Pension Yojana to provide income to those who make a living through farming, hard labour, or small business. Anyone could sign up for this pension scheme until September 30, 2022, but the rules changed on October 1. This scheme is now only available to those who do not fall within the income tax bracket. People between the ages of 18 and 40 are eligible to participate.
Contributions determine your pension.
People over the age of 60 are eligible for a monthly pension ranging from Rs 1000 to Rs 5000 under the Atal Pension Yojana. The amount of your pension is determined by your contribution.
If you want to secure your old age and benefit from Rs 5000 under this scheme, learn here when you will have to pay how much monthly contribution, so that at the age of 60, you can receive Rs 5000 every month.
Contributions determine your pension.
People over the age of 60 are eligible for a monthly pension ranging from Rs 1000 to Rs 5000 under the Atal Pension Yojana. The amount of your pension is determined by your contribution.
If you want to secure your old age and benefit from Rs 5000 under this scheme, learn here when you will have to pay how much monthly contribution, so that at the age of 60, you can receive Rs 5000 every month.
Contribution needs a bank account
You can deposit your contribution in monthly, quarterly, or semi-annual increments under this scheme. If you choose Monthly, you must deposit an age-based contribution every month; if you choose Quarterly, you must pay Quarterly if you choose Half Yearly, and every three months if you choose Half Yearly. To be deposited six months from now.
It is necessary to have a bank account for this because your contribution to the scheme will be deducted from your bank account, and you will also receive your pension through the bank account. You can link your existing bank account to the Atal Pension Yojana if you already have one. You must continue to contribute to the Atal Pension Yojana until you reach the age of 60.
Contribution required for Rs 5000 pension
If you want to receive a monthly pension of Rs 5000 and open an account at the age of 18, you must deposit Rs 210 monthly, Rs 626 quarterly, and Rs 1239 semi-annually. When the contribution begins at the age of 19, Rs 228 must be paid monthly, Rs 679 quarterly, and Rs 1346 semi-annually.
At the age of 20, Rs 248, Rs 739, Rs 1464 on a monthly, quarterly, and semi-annual basis; at the age of 21, Rs 269, Rs 802, Rs 1588; and at the age of 22, Rs 292, Rs 870, Rs 1723. Rs 318, Rs 948, Rs 1877 at age 23, Rs 346, Rs 1031, Rs 2042 to be paid monthly, quarterly, and semi-annually beginning at the age of 24.
If you begin contributing to this scheme at the age of 25, you will have to pay Rs 376 monthly, Rs 1121 quarterly, and Rs 2219 semi-annually. 26 years Rs 409, Rs 1219, and Rs 2414, 27 years Rs 446, Rs 1329, Rs 2632, 28 years Rs 485, Rs 1445, Rs 2862, and 29 years Rs 529, Rs 1577, Rs 3122 on a monthly, quarterly, and half-yearly basis
When registering at the age of 30, the monthly contribution is Rs 577, the quarterly contribution is Rs 1720, and the half-yearly contribution is Rs 3405.
Similarly, Rs 630 at age 31, Rs 1878, Rs 3718, Rs 689 at age 32, Rs 2053, Rs 4066 at age 33, Rs 752 at age 33, Rs 2241, and Rs 4438 at age 34. However, Rs 824 must be paid monthly, Rs 2456 quarterly, and Rs 4863 semi-annually.
After 60 years of full contribution…
Rs 902, Rs 2688, Rs 5323 at the age of 35, and Rs 990, Rs 2950 at the age of 36, Rs 5843, Rs 1087 at the age of 37, Rs 3239, Rs 6415, Rs 1196 at the age of 38, Rs 3564, Rs 7058 if you register at the age of 39, and Rs 1318 monthly, Rs 3928 quarterly, and Rs 7778 annually until the age of 60. In this manner, after making full contributions for 60 years, you begin receiving this money in the form of a lifelong pension, just like the government.
