Pension Scheme: More than 5 crore people have registered in Atal Pension Yojana, know the benefits of pension

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Atal Pension Yojana was launched by the Narendra Modi government in 2015. So far more than 5 crore people have signed up for this scheme, only in 2022 1.25 crore new registrations have taken place. In 2021, 92 lakh people have registered. The scheme is overseen by the Pension Fund Regulatory and Development Authority (PFRDA).

There are 29 banks where Atal Pension Yojana can be opened, which include many important public sector banks like State Bank of India, Indian Bank and Bank of India. According to PFRDA data, there has been an increase in the number of women enrolling in the Atal Pension Yojana, with their percentage increasing from 38 per cent in 2021 to 45 per cent in 2022.

Any person between the age of 18 to 40 years who does not pay tax can invest in this scheme. Bank or post office can register you Atal Pension Yojana account, and the amount of monthly pension you will get is based on the investment made by you. The monthly investment amount varies according to the range of the pension, which ranges from Rs 1,000 to Rs 5,000.

To be eligible for pension, participants should invest in the scheme for at least 20 years. For example, if one invests Rs 5,000 for pension at the age of 18, he/she needs to set aside only Rs 210 every month.

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