Atal Pension Yojana will get pension from 1000 to 5000 rupees.

 Atal Pension Yojana – APY – Atal Pension Yojana: Formerly known as Swavalamban Yojana (SY : Swavalamban Yojana) , is a government-sponsored pension scheme in India, mainly targeting the unorganized sector. It was mentioned in the 2015 budget speech by Finance Minister Arun Jaitley. It was launched by Prime Minister Narendra Modi in Kolkata on 9 May 2015

Under the Atal Pension Scheme, after the age of 60 years of the beneficiaries, an amount ranging from Rs 1000 to Rs 5000 will be given as pension. Under Atal Pension Yojana, the pension amount will be determined based on the age and investment of the beneficiaries. In Atal Pension Yojana 2024, you can be entitled to get more pension every month by depositing less amount, but you can also get the benefit for your family in case of untimely death. Read this article carefully till the end to get information about Atal Pension Yojana like amount chart, application process, eligibility, required documents etc.

The applicant applying under this scheme has to deposit the premium every month. After that, financial assistance will be provided in the form of monthly pension in old age. To apply in Atal Pension Yojana, the age of the beneficiaries should be between 18 to 40 years, only then they can avail the benefit of this scheme. If a beneficiary wants to join the scheme at the age of 18, he will have to pay a premium of Rs 210 per month and those who are 40 will have to pay a premium of Rs 297 to Rs 1,454.

So far more than 65 lakh citizens have subscribed under Atal Pension Yojana. Due to which the number of customers has increased to 3.68 crore. This information has been given by the Ministry of Finance. Due to which the assets under management have increased to 20000 crore rupees. 56% of the total customers are male and 44% are female. Every citizen of India in the age group of 18 to 40 years can take the membership of this scheme. The scheme provides a minimum guaranteed pension of ₹ 1000 to ₹ 5000 on reaching the age of 60 years. Apart from this, in case of death of the subscriber, the spouse is also guaranteed pension for life.

After the death of both husband and wife, the pension fund is paid to the nominee. The scheme was launched by Prime Minister Narendra Modi on 9 May 2015 to benefit the citizens of the unorganized sector. It has been informed by the Chairman of PFRDA that a target of achieving one crore nominations has been set during this financial year.

Benefits under Atal Pension Scheme

Atal Pension Yojana can be availed only by people of India.

Under the Atal Pension Yojana, a monthly pension ranging from Rs 1000 to Rs 5000 will be provided by the central government only after completing the age of 60 years. (Pension scheme after 60 years)

Under the Atal Pension Yojana, the pension amount will be paid based on the age and investment made by the beneficiaries.

Like the PF account, the government will also contribute from its own side to this pension scheme.

If you want a pension of Rs 1000 per month and your age is 18 years, you will have to deposit a premium of Rs 210 per month for 42 years.

At the same time, 40-year-olds will have to pay a premium of Rs 297 to Rs 1,454. Only then he can avail APY 2024.

Atal Pension Yojana was launched to provide pension to unorganized sector employees. Through Atal Pension Yojana, a pension of Rs.1000 to Rs.5000 per month is provided according to the applicant's investment on completion of 60 years of age. Tax benefits will also be provided to customers under this scheme. This information has been given by tweet by the Pension Fund Regulatory and Development Authority. The tweet stated that all income tax payers falling within the age group of 18 to 40 years can avail this scheme and also all those income tax payers under section 80CCD (1b) of Income Tax can avail this scheme. Contributions can also be received.

To avail the benefits of this scheme, it is mandatory for the customer to have a Savings Bank Account or Post Office Savings Account . Atal Pension Scheme has also been included in Section 7 of the Aadhaar Act. All citizens who wish to apply under this scheme will have to submit proof of their Aadhaar number or register under Aadhaar authentication.

Required Documents and Eligibility for Atal Pension Scheme

• Applicant must be an Indian citizen.
• Candidate's age should be between 18 to 40 years.
• The applicant should have a bank account and the bank account should be linked to the Aadhaar card.
• Aadhaar Card of the applicant
• mobile no
• Credentials
• Proof of permanent address
• Passport size photograph

Withdrawal of Atal Pension Scheme (Pension scheme after 60 years)

On completion of 60 years of age : After the age of 60 years, the applicant can withdraw from the Atal Pension Scheme. In this case, pension will be given to the applicant after withdrawal of pension.In case of death of the applicant : If the applicant dies, the pension amount will be given to the spouse of the applicant. And if both of them die then the pension will revert to their nominee.Withdrawal before the age of 60 : Withdrawal before the age of 60 is not allowed from Atal Pension Yojana. But in some exceptional circumstances it is allowed by the department. For example, if the beneficiary dies or in the event of terminal stoppage.National Pension System TrustAn ombudsman has been appointed by the Pension Fund Regulatory and Development Authority earlier in the year to redress the grievances of applicants of the National Pension System and Atal Pension Yojana. Any customer whose grievance is not resolved within 30 days from the date of registration or is not satisfied with the resolution provided may file a grievance with NPS Trust. NPS Trust will respond to the customer within 30 days from the date of receipt of the complaint and the complaint will be redressed at the earliest.

Status of non-contribution under Atal Pension Scheme

If the applicant does not contribute under Atal Pension Yojana, his account will be suspended after 6 months. If even after this the investor has not made any investment, after 12 months his account will be inactive and after 24 months his account will be closed. If the applicant fails to make the payment on time he will have to pay a penalty. This penalty ranges from ₹1 to ₹10 per month.

Atal Pension Yojana Important Link

• Atal Pension Yojana Application Form - Click here

• Atal Pension Yojana official website - Click here

How to Apply for Atal Pension Yojana 2024?

• A person who wants to apply under Pradhan Mantri Atal Pension Yojana should first open his savings account in any national bank.
• After that fill all the information like Aadhaar card, mobile number etc. asked in the application form for Pradhan Mantri Atal Pension Yojana.
• After filling the application form, submit it to the bank manager. After this, your bank account will be opened under Atal Pension Yojana after verification of all your letters.