Atal Pension Yojana : Married Couple can earn 10k monthly (Benefits & Details)

As people become more inclined to secure their future financially, retirement planning has become an integral part of their lives. While there are many schemes and plans available that an individual can choose from, they can also plan their retirement together if they so desire.

One such scheme that couples can opt for is Atal Pension Yojana (APY), which offers good return on investment along with safety. Under the scheme, a husband and wife can open 2 separate accounts and get a total monthly pension of around Rs 10,000.

An advantage of this scheme is that a tax-paying couple can apply for tax benefits on their deposits in the scheme.

Eligibility for Atal Pension Yojana:

This scheme was flagged off in 2015 with an aim to benefit people engaged in unorganized sectors to secure their future. However, now any Indian citizen between 18 to 40 can invest his money in this scheme.

If a person has an account with a bank or post office, he can easily choose Atal Pension Yojana as his investment option.

Investors will be eligible to get pension after 60 years of age.

Aadhar number and mobile number are necessary to invest in the scheme.

Benefits of Atal Pension Yojana:

Depending on the investment made by an individual, they will receive Rs 1,000 or Rs 2,000 or Rs 3,000 or Rs 4,000 or a maximum of Rs 5,000.

If a pension seeker wants to get a monthly pension of Rs 5,000, then he has to deposit Rs 210 per month from the age of 18 years.

How to earn Rs 10,000 monthly pension?

To do this, couples below the age of 30 years can start 2 separate Atal Pension Yojana accounts. They have to deposit Rs 577 in their respective accounts to earn the desired pension of Rs 10,000 per month after the age of 60 years.

Apply here : Atal Pension Yojana

Tax Benefits on the Scheme:

Investing in Atal Pension Yojana can help investors save tax. They can get tax benefits up to Rs 1.5 lakh under Income Tax Act 80C.