Pension scheme for married couple: Get Rs 10,000 monthly on retirement, tax benefits; check how

Atal Pension Yojana (APY) can provide decent returns along with safety on investments.

New Delhi: Are you a married couple and planning for your retirement? If yes, then Atal Pension Yojana (APY) is one such scheme that can provide decent returns along with safety on investments. 

Under the scheme, a husband and wife can earn a pension of about Rs 10,000 per month by opening two separate accounts in Atal Pension Yojana. A tax-paying couple can also apply for tax benefits against their investments in the scheme. 

Who can invest in Atal Pension Yojana? 

Atal Pension Yojana was initially launched in the year 2015 to encourage people to engage in unorganised sectors to secure their future. But now, the government allows any Indian Citizens aged between 18 to 40 to put their money in the Atal Pension Yojana. 

Citizens fulfilling the criteria can take advantage of the pension scheme. If you have an account in a bank or post office, you can easily invest in Atal Pension Yojana. Investors start receiving the pension after 60 years. 

Atal Pension Yojana benefits 

Under the scheme, investors can get a monthly pension of either Rs 1,000 or Rs 2000 or Rs 3000 or Rs 4000 or a maximum of Rs 5,000, depending on the investments. Aadhar number and a mobile number is a must for investing in Atal Pension Yojana.

The sooner the investor invests under this scheme, the more benefit he or she can enjoy. If a person joins Atal Pension Yojana at the age of 18, then after the age of 60, he or she will have to deposit just Rs 210 per month for a monthly pension of Rs 5000 every month. 

How to get a pension of Rs 10,000? 

Spouses below 30 years can open two separate Atal Pension Yojana accounts to get a total monthly pension of Rs 10,000 after 60 years. They will need to invest Rs 577 each in their respective accounts to reap the benefits. 

Similarly, if the husband and wife are aged 35 years, they will have to deposit Rs 902 every month each in the APY accounts to get a joined pension of Rs 10,000 every month. Also Read: Indian Railways cancels 14 trains from Mumbai, Pune: Check list before travel date

Moreover, investments in Atal Pension Yojana can get also help investors avail of tax benefits of up to Rs 1.5 lakh under the Income Tax Act 80C. Also Read: BlackBerry phones to die on January 4; here’s how the brand came to an end