It’s very important to make investments for your retirement. National Pension System (NPS) and Atal Pension Yojana (APY) are the two pension plans most people invest in to save for retirement. Both APY and NPS are deferred pension plans, meaning you are required to keep saving for a particular period before you get a regular pension. One question that comes to people’s minds when investing is: “Can I open both NPS and Atal Pension Yojana?” If you also have this query, then read below to find out the answer:
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Can I Open Both NPS and APY
If you’re wondering whether you can invest in both NPS and APY, then the answer to this question is yes. A person can enrol under both the National Pension System and the Atal Pension Yojana at the same time. However, you’re required to fulfil the eligibility criteria of both schemes for that.
I hope now you know the answer to your query on “can I have both NPS and APY”
Let me share some differences between APY and NPS, so you can decide whether you should invest in both schemes or not.
Difference Between NPS and APY
Features |
APY |
NPS |
The age of joining |
Minimum entry age: 18 years Maximum entry age: 40 years. |
Minimum entry age: 18 years Maximum entry age: 55 years. |
Who can take the plan |
Only a resident of India can invest in this scheme |
Both the citizens of India as well as NRIs can invest in the scheme. |
Pension particulars |
It offers you a guaranteed pension after retirement. |
It does not guarantee a pension post-retirement. |
Tax Benefit |
It does not offer the applicant any tax benefits |
It offers a tax rebate of up to Rs. 2 lakhs. |
Investments |
It doesn’t offer you the option of selecting the investment of your choice. |
It offers you options in which you can choose to invest your money. |
This is all on “can we have both NPS and APY”
Read more:
How to calculate Atal Pension Yojana?
How to apply Atal Pension Yojana?
Atal Pension Yojana customer care number
This is all on “can I open both NPS and Atal Pension Yojana”
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can I open both NPS and ATAL Pension Yojana?
Suman
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2022-08-09T16:21:03+00:00 2023-07-27T13:54:22+00:00Comment
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