PM Atal Pension Yojana Detail – APY Online Application Form
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Pradhan Mantri Atal Pension Scheme
Life never remain same. It keeps changing with the time. After all, change is the law of nature. We all do work for some years and get retire with lot of responsibilities waiting for us. Retirement means no work & no income. What helps a retiree person can ask for a pension? Yes, a pension is only a protection which a retiree person gets a lump sum amount, which gets deducted from his salary.
In recent years, you must be heard of Atal Pension Yojana, in order to encourage pension schemes & to provide some help to the unorganized section of people, the government of India launched this scheme in the year 2015. Pension Scheme called Atal Pension Yojana. This pension scheme especially focuses on those individuals who are from the weaker section of society & will get benefit from this scheme.
Get Atal Pension Yojana Benefit
Atal Pension Yojana admin by Pension Fund Regulatory and Development Authority (PFRDA) under National Pension System (NPA). Individuals who are self-employed or working in a private firm can also opt for Atal Pension Yojana. This scheme ensures that people from weaker segment will get fixed amount in their old age when they are not supposed to have any other income source. Let’s go through some features of Atal Pension Yojana:
Main Features Of Atal Pension Yojana
- Every individual will get fixed amount range from ₹1000 to ₹5000 after the retirement age of 60.
- In the case of death of a pension subscriber, his/her spouse will get the same amount, and after the spouse death, his/her nominee will get whole accumulate pension amount after the death of spouse & actual pension subscriber.
- Each pension scheme amount varies from the contribution paid by pension subscriber.
- It is suggested any individual who wants to get maximum pension From Atal Pension Scheme should join this scheme at the age of 18 years and make contribution till the age of 40 years.
- An individual can choose the maximum age of contribution to Atal Pension Scheme of 20 years.
Now the question arises if an individual starts from 18 years of age how much he has to contribute every month. Well, any individual wants to have ₹1000 pension every month, then his contribution should be of ₹42 every month. The government of India has planned this scheme entirely in favor of a weaker section of society, so that they get no difficulty in making a contribution to it. An individual can contribute by an auto-debit facility that is available on any bank account in India.
Contribution by Government:
Like any other pension scheme, Atal Pension Scheme also gets contribution by government itself. The government of India will contribute a sum for the period of 5 years that is from the year 2015 to 2020. Only that pension subscriber will get benefit who has taken this scheme between June 1, 2015 and December 31, 2015.
Only those candidates who are not tax payers & don’t come under any Statutory Social Security Schemes. Account holders will also get alerted about their every contribution & another account related information via SMS. Modifications can also be done easily by pension subscriber at any time.