Senior Citizen Best Pension Scheme: You will get 5000 rupees every month

Senior Citizen Best Pension Scheme: The government started the Atal Pension Yojana so that those who earn their living by doing farming or hard labor or doing small business, also get income in old age. Till September 30, 2022, anyone could register themselves under this pension scheme, but from October 1, its rules have changed. Now only those people who do not come in the income tax slab can take advantage of this scheme. In this, people between the age of 18 years to 40 years can register.

Your pension depends on contributions

Under the Atal Pension Yojana, after the age of 60 years, people are given the benefit of a monthly pension ranging from Rs 1000 to Rs 5000. The amount of pension you will get depends on your contribution. If you also want to secure your old age and want to take advantage of Rs 5000 under this scheme, then know here at what age you will have to pay and how much monthly contribution, so that at the age of 60 you can get Rs 5000 every month.

Bank account required for contribution

Under this scheme, you get the facility to deposit the contribution in monthly, quarterly, and half-yearly terms. If you opt for Monthly, you will have to deposit an age-wise contribution every month, if you opt for Quarterly, you will have to pay Quarterly if you opt for Half Yearly, and every three months if you opt for Half Yearly To be deposited in six months.

For this, it is necessary to have a bank account because the money from your contribution to the scheme will be deducted from your bank account and you will also get a pension through the bank account. If you already have a bank account, you can get it linked to the Atal Pension Yojana. Once you subscribe to Atal Pension Yojana, you have to contribute continuously till the age of 60 years.

At what age and how much contribution for a pension of 5000

If you want to get a pension of Rs 5000 every month in old age and want to open an account at the age of 18, then you will have to deposit Rs 210 monthly, Rs 626 quarterly, and Rs 1239 half-yearly. On starting the contribution at the age of 19 years, Rs 228 will have to be paid monthly, Rs 679 quarterly, and Rs 1346 half-yearly.

At the age of 20 years Rs 248, Rs 739, Rs 1464 on a monthly, quarterly, and half-yearly basis, at the age of 21 years Rs 269, Rs 802, Rs 1588, at the age of 22 years Rs 292, Rs 870, Rs 1723. Rs 318, Rs 948, Rs 1877 at age 23, Rs 346, Rs 1031, and Rs 2042 to be paid on a monthly, quarterly, and half-yearly basis starting from 24 years respectively.

If you start contributing under this scheme at the age of 25, then you will have to pay Rs 376 monthly, Rs 1121 quarterly, and Rs 2219 on a half-yearly basis. 26 years Rs 409, Rs 1219 and Rs 2414, 27 years Rs 446, Rs 1329, Rs 2632, 28 years Rs 485, Rs 1445, Rs 2862, 29 years Rs 529, Rs 1577, Rs 3122 monthly. quarterly and half-yearly basis respectively.

On registering at the age of 30 years, one has to pay Rs 577 for a monthly contribution, Rs 1720 for quarterly, and Rs 3405 for a half-yearly option. Similarly, Rs 630 at the age of 31, Rs 1878, Rs 3718, Rs 689 at the age of 32, Rs 2053, Rs 4066 at the age of 33, Rs 752 at the age of 33, Rs 2241 and Rs 4438 at the age of 34. But Rs 824 will have to be paid monthly, Rs 2456 quarterly, and Rs 4863 on a half-yearly basis.

After giving full contribution for 60 years…

Rs 902, Rs 2688, Rs 5323 at age 35 and Rs 990, Rs 2950 at age 36, Rs 5843, Rs 1087 at age 37, Rs 3239, Rs 6415, Rs 1196 at age 38, Rs 3564, Rs 7058 and if you register at the age of 39, you will have to deposit Rs 1318 monthly, Rs 3928 quarterly and Rs 7778 annually till the age of 60 years. In this way, after making a full contribution for 60 years, 60 you start getting this money in the form of a lifelong pension like the government.