Maintaining economic balance is very important in today’s era. For this you need to do careful financial planning. While investing, you should keep all the things related to the scheme in mind. Even you need to be aware of the changes in the rules and regulations that happen from time to time. Take a look at the changes made by the government in Atal Pension Yojana.
The rules of investment in Atal Pension Yojana are about to change. The new rules of Atal Pension Yojana are going to come into effect from October 1. Under the new change, the taxpayer cannot join this scheme from October 1, 2022. The Ministry of Finance has also issued a notification related to this.
According to the current rules, if you are an Indian citizen and your age is between 18-40 and you have a savings account with any bank or post office, then you can apply for APY. But what will happen to the old subscriber after the new rule is implemented?
Experts believe that if you have invested in Atal Pension Yojana, then the new rule will not have any effect on you. Even if you are already a taxpayer. Those who opened the account before October 1 will get the benefit of the scheme.
The scheme is regulated by the Pension Fund Regulatory and Development Authority. You can open an APY account in any bank for this scheme. Your money is deducted from that bank account through auto debit. Atal Pension Yojana (APY) will prove to be a good scheme for Indian workers in the unorganized sector. Under APY, a pension of Rs 1,000, 2,000, 3,000, 4,000 or Rs 5,000 is guaranteed.