If you are concerned about old age, the government has a number of schemes in which you can invest a small amount every month and get pension in old age. Lakhs of people have joined the schemes across the country. In fact, the government has many guarantee pension schemes. You can get a certain amount as pension every month after the age of 60. Today we are going to tell you about four such schemes.
Below we have mentioned various schemes introduced by Modi Government for unorganized sector.
Atal Pension Yojana
Atal Pension Yojana (APY) is the most popular pension scheme of the government. If you are not in a government job, you can join the scheme. The central government’s scheme gives investors a guaranteed monthly pension ranging from Rs 1,000 to Rs 5,000 after retirement. You can open an atal pension account at the post office and bank.
Only people aged 18 to 40 years can apply to atal pension yojana, i.e., those who are more than 40 years of age cannot join the scheme. If the 18-year-old joins atal pension yojana, he will have to invest Rs 210 per month for rs 5,000 pension. If the investor is 20 years of age, he needs a monthly pension of Rs 1000 after the age of 60, he will have to make a monthly investment of Rs 50 for 40 years. With aging, the account holders who start the scheme have to pay more investment amount.
PM Kisan Mandhan Yojana
The Central government has launched the Kisan Mandhan Yojana as a pension scheme for farmers. The farmers who register under the scheme are given a pension of at least Rs. 3000 after the age of 60. If someone joins the ‘Kisan Mandhan Yojana’ at the age of 18, they will have to deposit Rs 55 per month. While the 30-year-old will have to pay Rs 110 per month and if he is 40 years old, then Rs 200 per month. The same farmers can apply for the scheme, which has cultivable land up to a maximum of 2 hectares.
How to open account in Kisan Mandhan Yojana
To avail the benefit of PM Kisan Mandhan Yojana, the farmer will have to go to the Common Service Centre (CSC) and register himself. Aadhaar card and measles-khataui have to be copied for registration. The scheme requires the applicant farmer to contribute between Rs 55 to Rs 200 per month up to the age of 60 years. This pension fund is managed by Life Insurance Corporation of India (LIC). The government also deposits the farmer’s account as much as the farmer pays the premium in the PM Kisan Mandhan.
PM Shram Yogi Mandhan Yojana
The Central government’s ‘Pradhan Mantri Shram Yogi Mandhan Yojana’ is for those working in the unorganised sector. The scheme has been launched to provide economic security in old age. People associated with this scheme get monthly pension of Rs 3000 after the age of 60 years. The scheme can connect any Indian citizen between 18 years and 40 years of age. The monthly income for joining the scheme does not exceed Rs 15,000.
Who can become part of the scheme?
The scheme has been launched especially for Med, Shoemaker, Tailor, Rickshaw Puller, Dhobi and Mazdar. If the investor is 18 years of age, he will have to deposit Rs 55 per month, 30-year-old Rs 110 per month and Rs 200 per month for 40 years. If the beneficiary dies before getting the pension, 50 per cent of the pension will be paid to his spouse.
PM Small Business Mandhan Yojana
For small businesses, the government has launched the Pradhan Mantri Small Business Mandhan Yojana. The scheme also offers a monthly pension of Rs 3000 after completion of 60 years of age. If someone joins the scheme at the age of 18, he will have to deposit Rs 55 per month. Similarly, the 30-year-old will have to pay Rs 110 and 40-year-old Rs 200. This amount has to be deposited by the age of 60 years. The more premium is deposited, the more the government will deposit in the name of the member.
Get your registration done at service centres today
PM Narendra Modi launched the scheme on September, 2019. It is primarily a pension scheme for small businesses. If you want to join the scheme, you can register at 3.25 lakh common service centres spread across the country. Income tax payers will not get the benefit. Businesses above 40 years of age cannot participate.