New Delhi: Every person with a job wants to ensure they have enough money for retirement. Whether you work for a company or the government, you can save for retirement through the Employee Provident Fund Organization. There's also a retirement plan for people who work independently.


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On May 9, 2015, the government introduced the Atal Pension Yojana for those in the independent sector. About 4 crore people have joined this program so far. (Also Read: In Pics: From Aziz Premji To Sajjan Jindal, Where Are Next Gen Of These Biz Tycoons Are Studying, Or Have Studied From; Check Here)


The government manages retirement savings through the National Pension Scheme (NPS) to ensure people get money back when they retire. (Also Read: From Humble Beginnings To Fleet Of 400 Cars: The Inspiring Journey Of Ramesh Babu, The 'Billionaire Barber')


What Is Atal Pension Yojana (APS)?


Atal Pension Yojana is a government program created to ensure financial security for people in their old age. It's mainly for those who work in the unorganized sector. The program uses the National Pension System (NPS) to manage contributions and savings.


How Is It Helpful?


If you join Atal Pension Yojana, the government guarantees a monthly payment between Rs 1,000 and Rs 5,000. The government also contributes 50 percent of your yearly contribution or Rs 1,000 per year, whichever is less.


This is especially helpful for those who don't pay income taxes and are not covered by other social security schemes.


Who Can Join And Till What Age?


Any Indian between 18 and 40 years old can join Atal Pension Yojana.


How to Get Rs 5,000 Monthly Pension?

The sooner you start investing, the better. If you join at 18, you only need to contribute Rs 210 per month to get a guaranteed Rs 5,000 monthly pension when you retire.