Atal Pension Yojana is providing the pension surety to the beneficiaries after attaining 60 years. APY Scheme has been introduced by our Honorable Prime Minister Mr. Narendra Modi on 1st June 2015. Under the Atal Pension Yojana applicant will get Rs 1000, Rs 2000, Rs 3000 and Rs 4000 Monthly Pension. This Monthly Pension Amount under the APY Scheme will be decided on the basis of beneficiary contribution. If you want to apply for Atal Pension Yojana then First of all check Scheme Eligibility, Registration Process & Contribution Chart.
APY Scheme 2020 Details
Atal Pension Yojana is regulated under the Pension Fund Regulatory and Development Authority (PFRDA). APY is a Social Security Pension Scheme. Any Eligible Candidate may open Atal Pension Yojana Account in any Nationalized Bank of India. Prime Minister has started APY scheme in place of previous Swavalamban Yojana. Any Indian Citizen whose age is between 18 to 40 years may apply for APY Pension scheme.
Objective of Atal Pension Yojana
Modi Government wants to provide social security and better futures to the subscriber of Atal Pension Yojana. To fulfill this objective Central Government has started guaranteed Pension scheme for unrecognized sectors of India. All bank account holders under the eligible category may join APY Yojana with auto debit facility.
Features of PM Atal Pension Scheme
Under the scheme you have to deposit pension premium amount on monthly basis. If your age is 18 years at the time of joining Atal Pension Yojana then you have to Deposit Rs 42 to Rs 210. If your age is 40 years at the time of joining APY Scheme then you have to Deposit Rs. 291 and Rs. 1,454. (This Pension Contribution Varies According to the amount of pension).
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Brief Summary of APY Scheme
|Name Of Scheme||Atal Pension Yojana|
|Introduced by||PM Narendra Modi|
|Nodal Agency||Pension Fund Regulatory and Development Authority (PFRDA)|
|Introduction Date||Year 2015|
|Start Date to Apply||Available Now|
|Last Date to Apply||Not Yet Declared|
|Status of Scheme||Active|
|Objective||To Provide Social security|
|Mode of Application||Offline through Bank|
|Type of Scheme||Central Government Scheme|
Eligibility for Atal Pension Yojana
- Candidate should be a Indian Citizen
- Subscribers should have a saving bank account.
- Aadhaar Card
- Identity Proof
- Mobile Number
Age to Join APY
- Minimum age to join is 18 Years
- Maximum age to join is 40 years
Benefits of APY Scheme
- It is a social security Scheme.
- Subscriber of APY gets a guaranteed pension of Rs.1000/- to Rs.5000/- per month.
- Tax benefits under this scheme are same as applicable under National Pension Scheme.
- It is an auto debited scheme.
- 100 percent secure because regulated by central govt. body.
Read About PM Kisan Pension Yojana
APY Scheme Contribution Chart
|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/-|
Withdrawal of APY Pension
The Monthly Pension will be given to subscriber after the attaining 60 years. In case of death of subscriber pension would be given to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.
How to Apply for Atal Pension Yojana
- The Candidate who wishes to apply for Atal pension Auto debited Scheme first of all read all the rules and regulation.
- After that visit to any nationalized bank to subscribe APY Scheme.
- Then open a saving bank account
- Fill the apply application form.
- Attached all the required documents (aadhar card/ mobile number)
- Complete all the other formalities.
- Submit your application form to Bank Branch Manager.
Penalty Under APY Scheme
- First Rs. 1 per month for contribution up to Rs. 100 per month.
- Second Rs. 2 per month for contribution up to Rs. 101 to 500/- per month.
- Third Rs. 5 per month for contribution between Rs 501/- to 1000/- per month.
- Fourth Rs. 10 per month for contribution beyond Rs 1001/- per month.
If you are facing any problem related to APY Scheme then contact to Toll Free Number -1800-110-069.