Atal Pension Scheme

Have any Pension Plan ?

No?  I feel sorry for you, Please be financially independent, At least have money to eat twice daily without depending on anybody. The stories we are hearing about old age persons is very disturbing, please do not take for granted that your children will feed you ( if they take care of you we will feel happy). But have some backup plans also. Save today for your future, small amount of money saved today will return you decent sum as pension every month when you turn 60.

We are talking about Atal Pension Yojana.

If you feel that you are financially fit for your old age, then look around you,
there may be your maid, servant, paper boy, vegetable vendor or others doing petty business. Please tell them about the Atal Pension Scheme, make them enroll to the scheme. They may reluctantly join now, but you will get their blessings when they start receiving the pension. Gift your loved ones the pension scheme. Your spouse, your son, your daughter. Saw the seeds now, the fruits and the shadow of the tree your loved ones will get.

You may think Rs.1000, 2000, 3000, 4000, 5000 you get at age of 60 will be peanuts. But remember peanuts can offer relief to your hunger but not "nothing". I have heard many intelligent people using weapon of inflation to discourage others from investing in the scheme. But use your brain, they are people with full stomach and have lot of money for their old age. But what about you ?

What you have to invest to get the desired pension according to your age is given below;

Indicative Contribution for Various Pension Options (in INR)

Entry Age	Years of Contribution	Monthly Pension INR 1000	Monthly Pension INR 2000	Monthly Pension INR 3000	Monthly Pension INR 4000	Monthly Pension INR 5000
18	42	42	84	126	168	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	423	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1,087
38	22	240	480	720	957	1,196
39	21	264	528	792	1,054	1,318
40	20	291	582	873	1,164	1,454

*Data from Atal Pension Yojna brochure

This scheme has started from 1st June 2015 and will closes on 31st December 2015.

Scheme is open to people of India as well as NRIs.

Scheme is open for people of age group from 18 to 40.

Payment to pension is to be made till you attain age of 60.

Once entered you have no option to come out of scheme except under special circumstances as defined under the scheme.

You have to have Savings Bank account in any scheduled bank to open the pension account. Just go to the branch where you have your account. Obtain the application for APY (Atal Pension Yojana)  fill it.  Give Date of Birth Proof, Aadhar card of self and nominee to open the APY account. The amount will be debited directly from your account every month.

Procedure is very simple for opening the account. Hence enroll early and reap the benefit of the scheme. Another benefit is goverment will pay Rs.1000 per year for first 5 years to your account.

Start investing now and be tension free at 60.