atal pension yojana scheme details
In Atal Pension Yojana, on turning 60 years old, one gets a pension of one thousand to five thousand rupees every month. Any person between 18 years to 40 years can invest in this scheme. One has to invest in this scheme for at least 20 years.
Atal Pension Yojana was started by the government in the year 2015 to 2016. It has been started in view of regular income for the employed people after retirement. Any citizen of the country who is not a taxpayer can avail the benefits of this scheme. This rule was implemented in October 2022 last year. Before this, all people were eligible to invest in it.
Under this scheme, you can get a fixed pension by making small investments. To get a pension of Rs 500 per month, you will have to invest Rs 210 from your income every month in this scheme.
APY Yojana full form?
The full form of APY is (Atal Pension yojana). In Hindi it is called Atal Pension Yojana. This scheme has been started by Prime Minister Modi. This name has been taken from the former Prime Minister of India Atal Bihari Bajpai ji (there is no proof of this). At that time Congress and Bharatiya Janata Party had formed the government together.
APY Yojana Benefits ?
Atal Pension Yojana: Pension is the biggest support in old age. For this purpose, investing in Atal Pension Yojana is a profitable deal. You can avail the benefit of monthly pension ranging from Rs. 1000 to Rs. 5000 in old age by depositing a small amount every month as per your convenience. The age limit for investing in this is 18 to 40 years.
In order to provide the best option to the people for investment, the minimum pension under Atal Pension Yojana will be guaranteed by the Government in the sense that if the actual return on pension contribution falls short of the amount due during the period of contribution then such shortfall will be funded by the Government for those who joined the scheme between 1st June 2015 to 31st March 2016.
atal pension yojana eligibility criteria
Eligibility for registration in Atal Pension Yojana The entry age for Atal Pension Yojana APY is 18 to 40 years. Any Indian citizen who falls within this age limit is eligible for this. The maturity of the scheme occurs on completion of 60 years. You have to pay the premium amount till the age of 60 years. The premium amount of Atal Pension Yojana depends on the age of the person.
If the age is more then the premium amount is less and if the age is more then the premium also becomes more. This happens because the premium of every person is deducted till the age of 60 years. If the age of entry is 18 years then the premium will be deducted till 42 years and if the age of entry is 40 years then the premium will be deducted only till 20 years. This is the reason that its premium increases or decreases according to the age.
This scheme was started by the central government in 2015. You can enroll yourself for this scheme after completing 18 years of age. Under the scheme, you are given a pension of Rs. 1000, 2000, 3000, 4000 and 5000 after completing 60 years of age. The pension amount depends on the subscription taken by you.
atal pension yojana age limit
Joining Age and Contribution in Atal Pension Yojana The minimum age for joining APY is 18 years and maximum age is 40 years. The exit age and commencement of pension will be 60 years. Thus, the minimum period of contribution by a subscriber under APY will be 20 years or more.
The Government of India launched the Atal Pension Yojana in 2015. You can register for the Atal Pension Yojana through your bank account opened in any bank or post office. Once you become a member, you have to remain a member and keep depositing installments until you reach the age of 60 years.
After completing the age of 60 years, the government starts giving you pension installments. The more money you have deposited, the more pension you get every month.
how to get 1k, 2k,3k,4k,5k, per month
|
Age of entry |
Years of
contribution |
First Monthly
pension of Rs.1000/- |
Second Monthly
pension of Rs.2000/- |
Third Monthly
pension of Rs.3000/- |
Fourth Monthly
pension of Rs.4000/- |
Fifth Monthly
pension of Rs.5000/- |
|
18 |
42 |
42 |
84 |
126 |
168 |
210 |
|
19 |
41 |
46 |
92 |
138 |
183 |
224 |
|
20 |
40 |
50 |
100 |
150 |
198 |
248 |
|
21 |
39 |
54 |
108 |
162 |
215 |
269 |
|
22 |
38 |
59 |
117 |
177 |
234 |
292 |
|
23 |
37 |
64 |
127 |
192 |
254 |
318 |
|
24 |
36 |
70 |
139 |
208 |
277 |
346 |
|
25 |
35 |
76 |
151 |
226 |
301 |
376 |
|
26 |
34 |
82 |
164 |
246 |
327 |
409 |
|
27 |
33 |
90 |
178 |
268 |
356 |
446 |
|
28 |
32 |
97 |
194 |
292 |
388 |
485 |
|
29 |
31 |
106 |
212 |
318 |
423 |
529 |
|
30 |
30 |
116 |
231 |
347 |
462 |
577 |
|
31 |
29 |
126 |
252 |
379 |
504 |
630 |
|
32 |
28 |
138 |
276 |
414 |
551 |
689 |
|
33 |
27 |
151 |
302 |
453 |
602 |
752 |
|
34 |
26 |
165 |
330 |
495 |
659 |
824 |
|
35 |
25 |
181 |
362 |
543 |
722 |
902 |
|
36 |
24 |
198 |
396 |
594 |
792 |
990 |
|
37 |
23 |
218 |
436 |
654 |
870 |
1087 |
|
38 |
22 |
240 |
480 |
720 |
957 |
1196 |
|
39 |
21 |
264 |
528 |
792 |
1054 |
1318 |
|
40 |
20 |
291 |
582 |
873 |
1164 |
1454 |
Required Documents of APY Yojana?
If you are going to apply for Atal Pension, then you will need (Aadhar card, mobile number, identity card, permanent address proof, passport size photo, bank passbook etc.)
How to Apply in APY Yojana?
Atal Pension Yojana was started by Prime Minister Shri Narendra Modi. Under this scheme, pension assistance will be provided to the senior citizens of the country, for which the beneficiaries will have to complete the registration process.
- Fill and submit the APY registration form at your local bank branch.
- Provide your bank account number, Aadhaar number and mobile number.
- Your first contribution amount will be deducted from your linked bank account at the time of account opening.
- You can open the account by visiting this government official website
atal pension yojana how to close
If you want to exit from this scheme, there is a provision for this also, you can exit the scheme anytime before attaining the age of 60 years, for this you have to fill the APY Account Closure (Exit) form and submit it in the bank in which you have your account.
In this form, you can give the reason for withdrawal as per your wish. The bank will investigate your form in a few days and close your account, after which your refund will be credited to your savings account.
atal pension yojana me death benefits?
Through Atal Pension Yojana, beneficiaries can get pension up to ₹1000, ₹2000, ₹3000, ₹4000 and ₹5000 per month. This pension can be received after the age of 60 years if the subscriber dies.
So in this situation in case of death of subscriber before 60 years in Atal Pension Yojana, for the remaining period in APY account till the original subscriber attains the age of 60 years,
The option to continue the vested contributions in his or her own name will be available to the spouse. The spouse of the subscriber will be entitled to receive the same pension amount on death as was payable to the subscriber.