You can also arrange pension for yourself by taking advantage of Atal Pension Yojana and POMIS Scheme

 

After the government discontinues the pension facility of employees, people are worried about their retirement, how they will be able to arrange monthly income for themselves in old age. But the government is still providing many such options to the people by which you can save your old age from financial problems. Atal Pension Yojana Scheme of Central Government and Post Office Monthly Income will be right for you. Today we are telling you about both these schemes.

 

Atal Pension Yojana (APY Pension Scheme)

 

What is this APY scheme? Under this, a pension of 1000 to 5000 rupees is received every month when 60 years old. A person from 18 years to 40 years can invest in it. If a person takes this scheme, he will have to invest at least 20 years. To join the Atal Pension Yojana Plan, it is necessary to have a savings bank account, Aadhaar and active mobile number.

 

How will your contribution be determined? How much the amount will be deducted will depend on how much pension you want after retirement. For taking a pension from 1 to 5 thousand rupees per month, the subscriber will have to pay from 42 to 210 rupees per month. This will happen when the scheme is taken at the age of 18 years. On the other hand, if a subscriber takes the scheme at the age of 40, then he will have to make monthly contributions ranging from Rs 291 to Rs 1454 per month. The more contributions a subscriber receives, the more pension he will receive after retirement.  In this, you will be able to claim a tax benefit of Atal Pension yojana income tax benefit up to Rs 1.5 lakh under section 80C of Income-tax Act.

 

How to give a contribution? Under this Atal pension, investors can invest in monthly, quarterly or half-yearly period ie 6 months. The contribution will be auto-debited. That is, the fixed amount will be automatically deducted from your account and deposited in your pension account.

 

How can Atal Pension Yojana apply? You can take advantage of these schemes by going to any bank. If you have an account with SBI Bank, you can avail the Atal scheme from net banking.

 

Post Office Fixed Deposit monthly Income Scheme

 

What is this POMIS Scheme? This is a kind of pension scheme, in which you can arrange monthly income for yourself by depositing this lump sum money. Its special thing is that after the completion of the scheme you will get all your money back. It is also called Postal MIS.

 

How much can you invest? Under Post Office Income Scheme, accounts can be opened with a minimum of 1000 rupees. On the other hand, if you talk about the maximum, if your account is single, then you can deposit up to Rs 4.5 lakh. On the other hand, if you have a joint account, a maximum of 9 lakh rupees can be deposited in it. Maturity period is 5 years. After every 5 years, the scheme can be carried forward as long as desired through the same account.

 

6.6 per cent interest is being given under the post office monthly income scheme interest rate. If you invest Rs 4.5 lakh under this scheme, you will get interest of Rs 29700 per year at the rate of 6.6 POMIS interest rate per year. At the same time, if you invest 9 lakhs under a joint account, then you will get 59,400 years of interest. If it is shared equally over 12 months, it will get a return of Rs 4,950 every month. If you do not withdraw the returns, then you also get interest in it.

 

How to invest in it? You can contact your nearest post office to open a post office monthly income account. Here you have to fill a form for the monthly income scheme. After this, your account will be opened.

 

Where to invest? If you are under 40 years of age, then it would be right for you to invest in the Atal Pension Yojana. In this, you do not have to deposit money together, by depositing monthly money in it, you make a pension for yourself. On the other hand, if you are more than 40 years old, then you cannot take the benefit of the Atal Pension Yojana, in such a monthly income scheme, can become the support of your old age. Apart from this, you can also take advantage of both schemes if you want. With this, you will get about 10 thousand rupees every month.