Atal Pension Yojana - review pleases

Atal Pension Yojana - review pleases

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Deal Subedar
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I read about this on net and feel it can be used for safe retirement corpus alongwith other investment funds.

any dimer with more knowledge please shed more light on it.

http://www.atalpensionyojana.co.in/apy-eligib...y/

7 Comments  |  
3 Dimers
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Deal Cadet
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still_guessing wrote:

I read about this on net and feel it can be used for safe retirement corpus alongwith other investment funds.

any dimer with more knowledge please shed more light on it.

http://www.atalpensionyojana.co.in/apy-eligib...y/

I think not much useful. If you are of age 18, You have to contribute 210 rs for Rs 5,000 pension ( which will be penny after 42 years). even if you do investment at 8%, it will grow to around 8 lakh after 42 yrs. and it would take nearly 14 years to recover only base amount (8 lakh).

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Deal Subedar
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Rahil42 wrote:

I think not much useful. If you are of age 18, You have to contribute 210 rs for Rs 5,000 pension ( which will be penny after 42 years). even if you do investment at 8%, it will grow to around 8 lakh after 42 yrs. and it would take nearly 14 years to recover only base amount (8 lakh).

…But bro isn’t government going to to contribute 50% also..then even 6% would be attractive…or i am getting it all wrong?….

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Deal Cadet
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still_guessing wrote:

…But bro isn’t government going to to contribute 50% also..then even 6% would be attractive…or i am getting it all wrong?….

Govt contribution is capped to 1000 per annum for 5 years thats too if you are not a tax payee nor a subscriber of any other social security scheme. Even if you qualify (which is unlikely), this scheme (govt contribution) no longer exist AFAIK

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Critic
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go for normal NPS instead of APY. will give you better return and also option to withdraw maximum amount on maturity.

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Deal Subedar
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panchabhut wrote:

go for normal NPS instead of APY. will give you better return and also option to withdraw maximum amount on maturity.

…thnx bro….plz send me a link to read more about it….

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Critic
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still_guessing wrote:

…thnx bro….plz send me a link to read more about it….

search for National Pension Scheme / NPS

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