Atal Pension Yojana (APY) | Atal Pension Yojana Form-Benefits-Eligibility

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Atal Pension Yojana (APY) is a Pension scheme Launched By the govt. Of India For The advantage of people, especially Those working within the Unorganised Sector. The theme Was Launched In 2015 And Replaced The antecedently Launched Government theme, Swavalamban Yojana. The Underlining Objective Of This theme Is to produce Social And monetary Security To individuals In Their maturity By facultative Them to make Regular Savings during Their Productive Years.

Atal Pension Yojana Aims At Providing Minimum guaranteed Monthly Pension when The Age Of 60 Years in different Slabs Viz. Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000 And Rs. 5,000. excluding employees within the Unorganised Sector that The theme is very useful, staff From The personal Sector may Apply For APY To Avail Its various blessings. The Pension amount are going to be mounted counting on The Age Of The Subscriber and therefore the Contribution created By Him Or Her.

A Subscriber’s spouse Is Entitled to assert The Pension amount underneath The Atal Pension Yojana Upon His Or Her Death. The spousal equivalent Have 2 choices Before Them If A Subscriber Dies Before finishing The Age Of sixty Years – To Exit The theme And Claim the complete Pension quantity Or Continue With The scheme For The Remaining amount. just in case Of Death Of each The Subscriber and the spouse, The Accumulated Pension amount is Claimed By The nominee. In Accordance With The Investment Pattern Set By the govt.

The Collected quantity under APY Is Managed By The Pensions Funds regulatory authority Of India (PFRDA). The Central Government also Co-Contributes 500th Of the total Contribution Or Rs. 1,000 each year, Whichever Is Lower, to each Eligible Subscriber who Joined The theme Between Before 31st december 2015, For financial year 2015-16 To 2019-20. this is often Applicable If Subscribers don't seem to be income tax Payers Or a part of the other social security scheme.

Benefits of Atal Pension sahay Yojana(APY)

The Atal Pension Yojana Is an excellent Saving theme for people And Offers Ample advantages At A Time once A Person’s Income-Earning capability Is Low. The Savings created Through This theme permits individuals To touch upon Rising price Of Living And Lead A Dignified Life Even when Retirement. a number of the benefits Of APY area unit Given Below:

The Subscribers will Increase Their Premium As Per Their choice and may expect to very large Monthly Pension Amounts, travel Between Rs. 1,000 And Rs. 5,000, By creating important Contributions.

Regular Updates like standing Of Contribution area unit Provided To The Subscribers Via SMS Alerts And Physical statement.

The Account Is moveable and can Be coupled To bank account in order that The Subscriber will Operate It From anyplace within the Country.

APY Is an affordable theme And is accessible At Ultra-Low price And Investment is As Low As Rs. forty two Per Month, Provided The Age At Entry is 18 Years.

It Is Regulated By PFRDA With clear Investment Norms. the cash Contributions created By Subscribers Of APY area unit Maintained Safely.

At The Time Of Investment, people will Claim income tax advantage of Up To Rs. 1.5 lakh underneath The Section 80C Of The income tax Act Of 1961. Moreover, they'll also Avail Deductions Of Up To Rs. 50,000 under Section 80CCD (1B).

Atal Pension Sahay Yojana Eligibility(APY)

To Avail The Multiple benefits Of Atal Pension Yojana theme, people ought to Meet The Eligibility Criteria, As Mentioned Below:

The Subscribers Of The Atal Pension Yojana theme should Be A citizen Of india.

The Minimum Age Of an individual Applying For The theme is 18 Years And most Age Is 40 Years. If a personal Joins At The Age Of forty Years To Avail A Monthly Pension Of Rs. 1,000, He Or She Is needed To Contribute a higher quantity Than Those connection At 18 Years.

The Subscribers must create Regular Contributions For A Minimum Of 20 Years, depending on Their Age At Entry And Pension slab Chosen.

The Prospective applicants Of The APY scheme ought to Have a valid Mobile range And A bank account coupled To Their Aadhar range. this is often an important requirement throughout The Registration process And to urge Periodic Updates On The APY Account.


Under the APY, there is bonded minimum monthly pension for the subscribers ranging between Rs. 1000 and Rs. 5000 per month.

The benefit of minimum pension would be bonded by the GoI.

GoI will co-contribute 500th of the subscriber’s contribution or Rs. 1000 each year, whichever is lower. Government co-contribution is accessible for those that

are not coated by any Statutory social security Schemes and isn't income tax money dealer.

GoI can co-contribute to every eligible subscriber, for a period of five years UN agency joins the theme between the amount first june, 2015 to 31st december, 2015. The

benefit of 5 years of government Co-contribution underneath APY would not exceed five years for all subscribers including migrated Swavalamban beneficiaries.

All bank account holders could join APY.

Charges For Default Atal Pension Yojana(APY)

Banks are needed to collect additional quantity for delayed payments, such quantity can vary from minimum Re one per month to Rs 10/- per month as shown below:

Re. 1 per month for contribution upto Rs. a hundred per month.

Re. 2 per month for contribution upto Rs. 101 to 500/- per month.

Re 5 (Five) per month for contribution between Rs 501/- to 1000/- per monthly.

Rs 10  (Ten) per month for contribution beyond Rs 1001/- per monthly.

The fixed amount of interest/penalty can stay as a part of the pension corpus of the subscriber

Important information for subscriber:(APY)

Discontinuation of payments of contribution quantity shall result in following:

After six months account will be frozen.

After 12 months account are going to be deactivated.

After twenty four months account are going to be closed.

Subscriber ought to ensure that the checking account to be funded enough for motorcar debit of contribution quantity.

Exit : Atal Pension Yojana Sahay

On Attaining The Age Of 60 Years:(APY)

The Exit From Atal Pension Yojana Is permitted At The Age With 100% Annuitisation Of Pension Wealth. On Exit, Pension Would Be obtainable To The Subscriber.

In Case Of Death Of The Subscriber because of Any Cause:

In Case Of Death Of Subscriber Pension Would Be available To The spousal equivalent And On The Death Of each Of Them (Subscriber And Spouse), The Pension Corpus Would Be came back To His campaigner.

Exit Before The Age Of 60 Years:

Exit Before 60 Years of age isn't permissible but it's permissible solely In Exceptional Circumstances, I.E., within the Event Of The Death Of Beneficiary Or Terminal illness.

Atal Pension Yojana Contribution Chart

Subscribers will create monthly contributions as per below given chart. they're additionally entitled for creating contributions on quarterly and half-yearly basis.

Important Link

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