Everyone dreams that when he retires from his job, he and his family should get the facility of pension every month, so that they do not have to face any kind of financial challenge in old age. To solve this problem, the country’s largest and most trusted government insurance company LIC (Life Insurance Corporation of India) has started a wonderful scheme, named New Jeevan Shanti Yojana. Under this scheme, a person has to deposit a lump sum amount and then you get the facility of pension for life.

What is LIC New Jeevan Shanti Plan?

LIC (Life Insurance Corporation of India) has launched the New Jeevan Shanti Scheme to make people’s lives easier, which is also known as Plan 758. With the help of this scheme, any person can invest a large amount at one go and get a pension of Rs 1,00,000 annually as per his need, which will make your life more convenient after retirement.

Under this scheme, if you deposit a large amount in this scheme all at once, then you have to decide yourself when to start taking pension through this scheme. Like after 1 year, 2 years or maximum 12 years. You have to wait for about 1 year to get pension through this scheme. This process of getting money is called Deferred Annuity Plan.

If you suddenly need money, you can take a loan from this scheme only after 3 months of investing money in this scheme. To deposit or invest money together in this scheme and avail the benefits of the scheme, the age of the person must be minimum 30 years and maximum 79 years. Suppose the policyholder dies suddenly, your money will still be completely safe, because the money deposited by you will be returned to your nominee along with interest.

How much investment is required for an annual pension of Rs 1,00,000?

If you want a pension of up to Rs 1,00,000 annually with the help of this scheme, then for this you will have to invest Rs 8 lakh together in this scheme and you will have to wait for 12 years i.e. lock-in period, so that you can easily get a pension of up to Rs 1,00,000. The more years you keep your money locked in this scheme, that is, the more years you do not take pension from this scheme, the more your money grows through interest.

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If you are looking for a safe investment for your life partner, so that they can get fixed income every month in future, then a scheme of the Central Government can be a good option for this. By adding name in this scheme, your life partner can get a guaranteed pension of Rs 1000 to Rs 5000 every month after retirement. The government is running this scheme under social security, so that people working in the unorganized sector get financial security in old age. In such a situation, let us now tell you about this scheme in which by adding the name of your life partner, you will get an income of Rs 5000 every month.

Atal Pension Yojana

You can add your life partner’s name in the Atal Pension Scheme run by the Central Government. Atal Pension Yojana was started in the year 2015. The objective of this scheme is to give a fixed pension every month after the age of 60 years to those who do not have any regular pension facility. This scheme is operated by the Pension Fund Regulatory and Development Authority. This scheme run by the Central Government is a guaranteed pension scheme, which means that with this scheme the government itself guarantees the fixed pension.

How much will have to be invested to earn Rs 5000?

Investment in Atal Pension Yojana depends on your age. According to this scheme, the younger you join the scheme, the less amount you will have to deposit every month. If you are 18 years old then you will have to deposit Rs 210 every month in this scheme. Whereas if someone’s age is 25 years, then he will have to pay Rs 376 every month in this scheme. At the age of 30 years, you will have to pay Rs 577 every month in this scheme and if your age is 40 years, then you will have to deposit approximately Rs 1454 every month in this scheme. In return for these investments, you start getting a pension of Rs 5000 per month after completing 60 years of age.

Who can invest in Atal Pension Yojana?

People between 18 to 40 years of age can join Atal Pension Yojana. Those who pay taxes cannot participate in this scheme. This scheme is especially for those who work in the unorganized sector or who do not have any kind of pension facility. Under this scheme, if an investor dies, the pension amount goes to his life partner. Whereas if both die, the entire investment is returned to the nominee.

How to add life partner’s name in Atal Pension Yojana?

offline application

• To add the name of life partner in Atal Pension Yojana, go to your bank or post office branch and fill the Atal Pension Yojana form.
• After this, fill the name of life partner and details of nominee in the form.
• Now submit the necessary documents like Aadhar card, address proof and bank account details.
• After this select the pension plan of your choice.
• After this process is completed, the bank will process your application and the fixed amount will be auto debited from your account every month.

online application

• To apply for this scheme online, first login to your bank’s net banking or mobile banking.
• After this go to Social Security Scheme or APY section.
• Now fill the form and select pension option and submit.
• In this way, after completing the application through online medium, the pension amount will be auto debited from your account every month.

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