Personal Finance Explainer: What To Do To Get Rs 5,000 As Pension Per Month

Any citizen who is aged between 18 and 40 years can subscribe to Atal Pension Yojana. It is mandatory for the individual to have a KYC-compliant savings bank account or post office savings bank account.

The pension provides significant financial support during the retirement period and helps meet expenses in old age. Making small contributions to social security schemes like the government's Atal Pension Yojana (APY) can provide you with a steady income once you are longer working. A pensioner can earn up to Rs 5,000 per month by subscribing to the Atal Pension Yojana (APY). 

Who can subscribe to Atal Pension Yojana?

Any citizen who is aged between 18 and 40 years can subscribe to APY. It is mandatory for the individual to have a KYC-compliant savings bank account or post office savings bank account. From October 2022, the government made income taxpayers ineligible for the Atal Pension Yojana. It means that if you have or have been paying income tax, then you can join the scheme. 

Contribution and pension