INSUBCONTINENT EXCLUSIVE:
government-run pension scheme focused on individuals working in the unorganised sector
Regulator PFRDA or Pension Fund Regulatory and Development Authority, which administers the Atal pension scheme, allows persons between 18
and 40 years of age to invest their money in the plan to earn a fixed income after attaining the age of 60 years, according to its website
The contribution required to earn a fixed pension of Rs 1,000-5,000 per month on maturity ranges from Rs 42 to Rs 1,454 per month, depending
For example, an investor who enters the scheme at age 18 is required to make a contribution of Rs 126 per month whereas one at age 40 needs
to contribute Rs 873 per month to earn a pension of Rs 3,000 per month on turning 60, according to the PFRDA website.Here's the amount of
contributionIndicative monthly contribution (in rupees)Monthly pension to subscriber and spouse (in rupees)Indicative return of corpus to
subscriber's nominee (in rupees)1842421,0001.7 lakh2040501,0001.7 lakh2535761,0001.7 lakh30301161,0001.7 lakh35251811,0001.7
npscra.nsdl.co.in)Opening an Atal Pension Yojana account requires the applicant to hold a savings account either with a bank or a post
detailed contribution chart of the investment required in Atal Pension Yojana for different age groups:(Using a chart, pension regulator
benefit The money paid as contribution to an Atal pension scheme account can be claimed for income tax deduction up to Rs 50,000 under
Section 80CCD (1B) of the Income Tax Act, over and above the Rs
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