Atal Pension Yojana: Save Rs 7 daily to get Rs 60,000 pension, check how to invest

New Delhi: In India, Central government-run agencies offer several safe investment options that provide impressive returns. One of the policies that ensure guaranteed returns on retirement is the Atal Pension Yojana, a scheme launched by the Central government to provide unorganised sector employees with an opportunity to secure their futures. 

Atal Pension Yojana was launched by Prime Minister Narendra Modi on 9 May 2015. So far, more than 3.68 crore subscribers have joined Atal Pension Yojana, investing a few hundred every month for a better retirement. 

According to Pension Fund Regulatory and Development Authority (PFRDA), the organisation that administers Atal Pension Yojana and several other pension schemes, more than 65 lakh subscribers have joined the scheme in the ongoing financial year. 

Atal Pension Yojana minimum age of entry 

The minimum age to start investing in Atal Pension Yojana is 18 years while the maximum age is capped at 40 years. Investors can opt for a minimum monthly pension of Rs 1000 to a maximum of Rs 5000. 

How to get a Rs 5000 monthly pension by investing just Rs 7 per day? 

Investors aged 18 years can start investing Rs 210 per month for 42 years to start receiving Rs 5000 monthly pension from the time they retire. The investment of Rs 210 per month translates to Rs 7 per day. In a year, the investor will receive a Rs 60,000 pension. 

However, an investor will need to pay the premium of Rs 210 per month without any fail to start receiving a Rs 5000 monthly pension once the individual turns 60. 

Steps to invest in the Atal Pension Yojana: 

Step 1: Go to the Atal Pension Yojana’s official website- https://enps.nsdl.com/eNPS/NationalPensionSystem.html website.

Step 3: Enter personal and Aadhaar card details.  

Step 4: Verify the information with OTP verification. The OTP will arrive on the mobile number linked to the Aadhaar Card.

Step 5: Enter bank account details - account number and IFSC code. 

Step 6: The account will be activated after the process is completed. 

Step 7: Enter nominee details and select the premium payment option. Also Read: Budget 2022: Healthcare likely to receive top priority - Assocham survey

Step 8: E-sign the form, and your Atal Pension Yojana registration will be completed. Also Read: Finance Ministry will release Rs 47,541 crore advance installment of tax devolution to states