Atal Pension Yojana

Date : 01/06/2015 -
Atal_Pension_Yojna_Feature_Images

The Government of India has introduced a pension scheme called the Atal Pension Yojana (APY), with effect from 1st June 2015, pursuant to the announcement in the budget for 2015-16 on creating a universal social security system for all Indians, especially the poor, the underprivileged and the workers in the unorganized sector.
APY is being administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the overall
the administrative and institutional architecture of the National Pension System (NPS).

Features of APY: APY is a voluntary, periodic contribution based pension system, under which the subscriber would receive the following benefits:

  • Central Government guaranteed minimum pension amount: Each subscriber under APY shall
    receive a Central Government guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or
    Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.
  • Central Government guaranteed minimum pension amount to the spouse: After the subscriber’s
    demise, the spouse of the subscriber shall be entitled to receive the same pension amount as that of the
    subscriber until the death of the spouse.
  • Return of the pension wealth to the nominee of the subscriber: After the demise of both the
    subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as
    accumulated till age 60 of the subscriber.

Monthly, Quarterly and Half-yearly prescribed contributions under APY

For more details, you can visit the site – Jan-Dhan se Jan Surksha

Beneficiary:

APY is open to all citizens of India who have a savings bank account and age of joining between 18-40 years

Benefits:

Each subscriber under APY shall receive a Central Government guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.

How To Apply

Anyone willing to apply can download the form from below link and they can submit it to the concerned bank.

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