The Atal Pension Yojana is one of the schemes to secure the future of every working citizen of India. The people working in an unorganized sector in India fail to invest for the future. The current Indian citizen lacks the sense of security who works in these sectors and hence the government of India is moving towards securing the future of these citizens. The latest pension scheme of APY is moving towards securing the future of this citizen. Under this scheme people can invest a monthly amount depending on the age they wish to join this scheme. The contribution made every month will later result into pension payment after the age of 60. The citizen of India can join this scheme only if they lie in a certain age group.
Following are the details of the age group which people can join with the details of the age group the people can join this Atal Pension Yojana scheme.
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The people willing to join the scheme must be of 18 to 40 years. The minimum age that one needs to be to join this scheme should be 18 years while the maximum age is 40 years.
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If the citizen is of 18 years then the years of contribution required by the citizen is 42 years while the return will be depending on the amount contributed.
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The citizen of age group 20 will need to contribute for 40 years and the return will depend upon the amount invested.
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The citizen of age group 25 will be required to invest for 35 years and the minimum investment per month is Rs 151.
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The age group of 30 years will be required to invest 30 years and the minimum investment is Rs 231.
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The age group of 35 years will require to invest for 25 years will have the minimum investment is Rs 362 monthly.
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The age group of 40 years will require investing 20 years and will have to invest Rs 582.
The minimum amount is based for return of Rs 1000 and as the contribution increases the return after the age of 60 years will increase and will range till Rs 5000.