Senior Citizen Special Scheme: Get Rs 5000 pension by depositing Rs 7 daily, know complete information about the scheme here

5/5 - (2 votes)
Senior Citizen Special Scheme

Senior Citizen Special Scheme: Get Rs 5000 pension by depositing Rs 7 daily, know complete information about the scheme here:As we journey through life, one of our most cherished dreams is to spend our golden years in comfort, free from financial worries. Retirement brings with it a phase of life where our bodies might not support us as they used to, and we might find ourselves dependent on others for our needs. This is where a well-planned pension scheme can come to our rescue. Among the various pension options available in India, the Atal Pension Yojana (APY) stands out as a government-backed scheme that offers guaranteed pensions to help you live your retirement years with financial security.

Understanding Atal Pension Yojana

Atal Pension Yojana is a pension scheme initiated by the government of India. The unique aspect of this scheme is that the government itself guarantees the pension, making it a reliable option for individuals seeking financial stability during their retirement. To participate in the APY, individuals can start by saving a small amount regularly, and depending on their investment, they can receive pensions ranging from Rs 1,000 to Rs 5,000.

Age Eligibility

To be eligible for Atal Pension Yojana, individuals must fall within the age group of 18 to 40 years. This means that if you are 40 years old and decide to invest in the scheme, you will start receiving your pension as soon as you turn 60.

How the Pension scheme Works

The pension amount you receive through APY depends on the monthly contributions you make and the age at which you start investing. Let’s break it down with an example:

If you start investing at the age of 18 and deposit just Rs 210 every month (which is a mere Rs 7 per day), you can secure a pension of Rs 5,000 per month after turning 60. On the other hand, if you prefer a pension of Rs 1,000, you would need to deposit only Rs 42 every month at the age of 18.

Senior Citizen Scheme

Benefits of Atal Pension Yojana

  1. Joint Benefits: Both spouses can join the scheme, allowing them to receive a combined pension of up to Rs 10,000 per month. Additionally, if the husband passes away before reaching 60, the wife will continue to receive the pension.
  2. Nominee Benefits: In the unfortunate event that both husband and wife pass away, the nominee will receive the entire accumulated amount.
  3. Tax Benefits: Investing in APY offers more than just pension security. You can also avail of tax benefits under Section 80C of Income Tax, allowing you to save up to Rs 1.5 lakh in taxes.
  4. Easy Eligibility: Any Indian citizen between the ages of 18 to 40 can invest in Atal Pension Yojana. All you need is a valid bank account linked to your Aadhar card and a mobile number.

Recent Changes

It’s important to note that the government made significant changes to the APY rules in 2022. As of October 1, 2022, individuals paying income tax are no longer eligible for the scheme. This change aims to ensure that the benefits of APY are directed towards those who need them the most.


Atal Pension Yojana is a beacon of hope for millions of Indians who wish to secure their financial future during their retirement years. With its government-backed guarantee, tax benefits, and flexible investment options, APY has emerged as a popular choice among individuals looking to ensure financial stability during their golden years. By making a small investment today, you can enjoy a financially prosperous retirement without depending on anyone else. Don’t wait; start securing your future with Atal Pension Yojana today!

Leave a Comment