New Atal Pension Yojana Scheme Get Up To Rs. 5000

What is Atal Pension Yojana Scheme ?

The Indian government is introduced Atal Pension Yojana Scheme for concerned about the elderly population. The focus has been on ensuring the financial security of working-class individuals, especially the economically disadvantaged. Encouragement is being provided to them for saving towards their retirement and becoming self-reliant.

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Efforts are directed at addressing the long-term risks among laborers, promoting the unorganized sector, and incentivizing workers. The unorganized sector is required to voluntarily save for their retirement.

Hence, the Indian government has announced a new scheme called the Atal Pension Yojana (APY) in the budget of 2015-16. APY is aimed at all citizens of the unorganized sector, and its operation is carried out through the Pension Fund regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and the National Pension System (NPS) architecture.

Atal Pension Yojana Scheme

The Atal Pension Yojana (APY) is a pension scheme aimed at the citizens of India, particularly those in the unorganized sector. Under APY, there is a guaranteed minimum pension, depending on the age of the individual. For a 60-year-old, pensions of Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000, or Rs. 5,000 per month can be availed.

The amount of the pension is determined based on the contributions made by the customers throughout the year. This scheme is designed to provide financial security to workers in the unorganized sector, ensuring a reliable pension amount for their post-retirement years.

Atal Pension Yojana Scheme Benefits

There is a guaranteed minimum monthly pension for customers, ranging from Rs. 1,000 to Rs. 5,000.
The assurance of a minimum pension is provided by the Indian government.
Additionally, the government will contribute 50% of the co-contribution or Rs. 1000 per year, whichever is lower. This government co-contribution is available for individuals not covered under any statutory social security schemes and with no income tax return.
The government will support each eligible subscriber in the scheme with a co-contribution for a period of five years, starting from June 1, 2015, to December 31, 2015. The benefit of the government’s five-year co-contribution will not exceed more than 5 years for all customers under APY, including those who benefit from voluntary exit. All individuals holding a bank account are eligible to join APY.

Atal Pension Yojana Calculator

The APY calculator is a tool that allows you to determine the actual interest earned on your investment in the pension scheme. The Atal Pension Yojana calculator can be used to figure out how much pension you want to receive and at what age you should apply for this scheme. Additionally, for your convenience, the calculator provides you with an immediate answer to how much interest you will have earned on your pension. The APY calculator can also help you avoid mistakes. As a result, this software is beneficial for both public and private sector employees.

The APY calculator can assist you in the following ways:

Estimating the final result instantly.
Determining the correct duration of investment.
Helping you understand whether the pension scheme aligns with your financial goals.
To calculate please click here

Atal Pension Yojana Scheme Online Apply

The process of opening an APY account is quite simple. Here’s a step-by-step guide:

Contact the Bank Branch/Post Office:

Get in touch with the bank branch or post office where you already have a savings bank account.
If you don’t have a savings account, consider opening one.
Provide Bank Account Details:

Furnish your bank account number or post office savings account number.
Seek assistance from the bank staff to fill out the APY registration form.
Submit Aadhar/Mobile Number (Optional but Recommended)

Provide your Aadhar or mobile number. While not mandatory, it can facilitate communication related to contributions. This step ensures ease of communication regarding your contributions.
Maintain Sufficient Balance: Ensure that your savings account or post office account maintains the required balance for the monthly/quarterly/half-yearly contributions.
By following these steps, you can smoothly initiate the process of opening an Atal Pension Yojana (APY) account.

Or visit site https://enps.nsdl.com/eNPS/ApySubRegistration.html for online registration

Atal pension yojana scheme eligibility

Any Indian citizen can enroll in the APY scheme, provided they meet the following eligibility criteria:
The applicant must have either a savings bank account or a post office savings account.
Potential applicants have the option to provide their Aadhar and mobile number during this process. Registering this information allows them to receive timely updates on their APY account. However, Aadhar enrollment is not mandatory for participation.

Atal Pension Yojana Scheme Age Limit

The age limit for the subscriber should be between 18 – 40 years.

Read more: New Sukanya Samriddhi Yojana

New Atal Pension Yojana Scheme Get up to Rs. 5000