Worrying does not empty tomorrow of its troubles, it empties today of its strength
— Corrie Ten Boom
As humans the biggest worry we have is regarding our future and what is going to happen with us. But it doesn’t do much good to live in anxiety. Rather than speculating on what might be, it would be wise to take action to shield yourself from any rocky roads ahead. A pension is an account that allows you to save up for your retirement. Pension schemes are like an ice pack; stored in your refrigerator to use in case of a headache or so. Similarly, the pension you save can be withdrawn in case of an emergency, or it can be taken after retirement to serve your needs.
A few years back I remember watching the news on the Annual Budget speech given by the Finance Minister Arun Jaitley. The highlight of that year’s speech was the new pension scheme called “Swavalamban Yojana”, known today as Atal Pension Yojana. What’s special about this scheme launched by Prime Minister Modi on May 2015, is to have a pension scheme for the unorganised sector in India. The grey economy seems to grow bigger and bigger each year in India. This scheme makes sure that this sector realizes the importance of pension and increases the percentage of Indians opting the same.
