Now in this scheme both husband and wife will get assistance up to Rs.5000

Now in this scheme both husband and wife will get assistance up to Rs.5000

bharti job yojana mahiti August 24, 2024
 Atal Pension Yojana: Atal Pension Yojana 2024 Introduction : Financial security after retirement Atal Pension Yojana (APY), is an essential social security scheme launched by the Government of India on 9 May 2015. The scheme is specially designed to provide pension facility after old age to the unskilled, informal sector working class. Apart from this, those in the private sectors of the country who do not get the benefits of this type of pension can also claim to get pension through this scheme and can get a pension of 1000, 2000, 3000, 4000 to 5000 on completion of the age limit of 60 years. If he becomes a part of this Atal Pension Yojana 2024, he will get this pension amount considering the premium paid and his age. If he dies during this period, his spouse can also claim for this pension.

Atal Pension Yojana 2024 Scheme Objectives- Atal Pension Yojana

The main objective of Atal Pension Yojana is to benefit the citizens of the country, whose income is not fixed and who have not made any arrangements for their future financial security after retirement. One can claim pension through this scheme and get pension of 1000, 2000, 3000, 4000 to 5000 on completion of age limit of 60 years. If he becomes a part of this Atal Pension Yojana 2024, the premiums paid and his age are targeted to give him this pension.

Features of Atal Pension Yojana 2024 – Atal Pension Yojana 2024

  1. Pension Amount: After joining under APY and contributing up to a fixed age, a member gets a monthly pension of Rs. 1000, 2000, 3000, 4000, or 5000 can be received as pension. The amount depends on the member's choice and the contribution period.
  2. Age of applicant: Citizens aged 18 to 40 years can participate in this scheme.
  3. Contribution: Citizens' monthly contribution is determined based on the pension amount chosen to join the scheme and the age of joining the scheme.
  4. Government Assistance: 50% of the total contribution by the Government up to 5 years subject to certain conditions or a maximum of Rs. 1000 is given annually as assistance.

Main objective of Atal Pension Yojana?

  • The main objective of this scheme is to provide benefits of pension to the unorganized sector of the country. The scheme provides social security facility to the common people of such unorganized sector with minimum participation i.e. the beneficiary of this scheme does not have to depend on others in case of illness, accident or old age.
  • What is Atal Pension Yojana? : Atal Pension Yojana (APY) is a pension scheme for citizens of India with a particular focus on unorganized sector workers. Under this Atal Pension Yojana, customers will get a minimum contribution based on their contribution of Rs. 1000/-, 2000/-, 3000/-, 4000/- and 5,000/- guaranteed monthly pension will be given at the age of 60 years.
  • If the poor people of the country develop then the country will automatically progress and the biggest security of any person is his financial security and to provide this financial security the present government has implemented a new pension scheme.

Know the procedure to join the Atal Pension Yojana scheme

The process to join Atal Pension Yojana is simple and straightforward:
  1. First of all, the candidate must have a savings bank account.
  2. If Aadhaar card, it needs to be linked with bank account.
  3. The account holder can enroll in the scheme through ATM or internet banking.
  4. At the time of recruitment, the amount of contribution will be determined according to the age of the candidate and the pension amount selected.

What are the benefits of Atal Pension Yojana? (Benefit of Atal Pension Yojana)

  1. Future Security: This scheme provides future financial security to the citizens by providing fixed monthly pension after retirement.
  2. Government Assistance: Assistance from the government helps citizens contribute.
  3. Flexible Contribution: Citizens can choose their pension and contribution according to their income status.
  4. Under this Atal Pension Yojana, customers will get a minimum contribution based on their contribution of Rs. 1000/-, 2000/-, 3000/-, 4000/- and 5,000/- guaranteed monthly pension will be given at the age of 60 years.

Benefits of this Irrevocable Pension Scheme?

  • This scheme will provide security of income during old age.
  • Focus will be on unorganized sector workers/ laboring class or people living below poverty line.
  • Investment for voluntary retirement is the main objective of this scheme.
  • The implementation of this scheme is from 01-06-2015.
  • Eligibility to avail this scheme: Age limit is minimum age is 18 years and maximum age is 40 years.
  • The administration will be administered and administered by the Pension Fund Regulatory and Development Authority (PFRDA).
Atal Pension Yojana is an excellent and necessary scheme to provide financial security to the citizens for their old age. By joining this scheme, the citizens can get a certain pension facility for their future, which helps them lead a dignified life in their old age.

What should be the eligibility of the beneficiary taking the benefit of Atal Pension Yojana?

Who can become a member of APY?
  • Age:- 18 to 40 years
  • All beneficiary applicants should be Indian citizens.
  • Every person has to pay the amount fixed by the government for at least 20 years.
  • They should have / open a savings account in a bank.
  • Any bank holder who should not be a member of any such social security scheme.
  • For a monthly pension of Rs.1000/- to Rs.5000/-, the beneficiary will have to pay an age-based contribution of Rs.42/- to Rs.291/-.
  • The level of contribution will be related to the age of the individual.
  • A person who joins at a younger age will contribute less and higher for older age.
  • To encourage investment in this scheme, those who open a new account before 31-12-2015 will be credited by the Central Government to the holder at a maximum rate of Rs.1000/- per year or 50% of the total contribution in the account whichever is less. (From 2015-16 to 2019-20) Current Rashtriya Swalamban Yojana savers will be transferred to Aap Atal Pension Yojana.

What documents will be required to join Atal Pension Yojana?

  • Aadhaar Card of Applicant Beneficiary: Aadhaar card is required for identification and card verification.
  • Savings Bank Account in any Bank: Applicant must have an active Savings Bank Account in his name.
  • Mobile Number: Link the applicant's mobile number with the bank account and confirm the account through OTP.
  • Main Identity Proof: PAN Card, Voter ID, Driving License etc. can be provided for identification.
  • Income Proof: If the candidate wants to get contribution assistance from the government, he has to submit BPL card or other documents as proof of his economic status.
With these documents the candidate can easily enroll in Etal Pension Yojana.

How much pension will be received under APY?

Know how much pension you will get under Atal Pension Yojana.
  • Customers will be charged a minimum amount based on their contribution of Rs. 1000/-, 2000/-, 3000/-, 4000/- and 5,000/- guaranteed monthly pension will be given at the age of 60 years.
  • The minimum pension benefit under the Atal Pension Scheme is guaranteed by the government which means, if the actual return is less than the estimated contribution for the minimum assured pension, the reduced benefit will be provided by the government.
  • Also, if the actual return of pension contribution is more than the estimated return, the same will be credited to the customer's account.

Important links for applying and more information about Atal Pension Scheme

Here are some important links related to the Atal Pension Yojana (APY): Atal Pension Yojana on how to apply, eligibility criteria, benefits, and more.
Candidates can easily enroll in Atal Pension Yojana with above given documents to apply for Atal Pension Yojana. Thank you…

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