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The Atal Pension Yojana is for those who want a fixed pension in their old age. What is the maximum pension one can receive under this scheme? Learn about the rules here.

The Atal Pension Yojana is designed for individuals who want a regular pension in their old age but are not covered by any major government or private pension scheme. This scheme was specifically launched keeping in mind unorganized sector workers and low-income individuals.

The biggest question in the minds of those joining the Atal Pension Yojana is how much pension they can receive under this scheme. If you also have this question, then let us tell you that the maximum pension under the Atal Pension Yojana is fixed at Rs. 5000 per month.

This means that if a person contributes correctly for the entire period, they will receive a guaranteed pension of Rs. 5000 every month after the age of 60. The Atal Pension Yojana offers pension options of Rs. 1000, 2000, 3000, 4000, and 5000 per month.

Investors can choose any of these slabs according to their needs and capacity. The monthly or quarterly contribution is determined based on the chosen pension amount. To join this scheme, the age must be between 18 and 40 years.

The younger a person is when they join the scheme, the lower the monthly contribution they have to pay. The pension starts after the age of 60 and continues for life. If the account holder dies, the pension continues to be paid to the spouse.

If both die, the entire accumulated amount is returned to the nominee. In this way, this scheme is not just for the elderly, but acts as a safety net for the entire family. The Atal Pension Yojana is fully government-backed.

Therefore, it is not affected by market fluctuations. The pension that is fixed is what is received. The account can be opened through a bank or post office, and contributions are easily deducted automatically via auto-debit. For those who want to secure their future pension with minimal investment, the Atal Pension Yojana can be a good option.