Atal Pension Yojana pdf

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Pdf NameAtal Pension Yojana pdf
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Atal Pension Yojana pdf

To create a universal social security system, the Atal Pension Yojana was launched for the poor, the underprivileged and the workers in the unorganized sector. The scheme was started on 9 September 2015. APY is managed by Pension Fund Regulatory.

Under the pension scheme focused on unorganized sector workers, the amount for pension will be determined based on what was the subscriber’s contribution. This amount can be 1,000, 2,000, 3000, 4000, or even 5000 on this basis, the age of the resident customer must be 60 years. This fixed amount will be credited to the customer’s bank account every month.

Eligibility:

Any citizen of India must be between 18 to 40 years of age to join the APY scheme. That citizen should have an account in the savings bank. If your Aadhaar and mobile number are linked with your bank account, So it will be convenient to receive updates from time to time. Although it is not necessary to do this, it is good.

Pension of the subscriber at the age of 60 years, after his death, the accumulated pension amount will be given to his spouse or nominee of the subscriber.

If the customer has died before the age of 60 years, then in this situation, the spouse of that customer will get full permission to contribute to the bank account. But this will happen only till the original subscriber of the account completes the age of 60 years.

Pension is guaranteed by the government if you earn less than the prescribed amount in investment and are eligible to be provided a minimum pension. The central government will prepare a fund for this. If the return on investment is higher, the increased pension benefit will be given back to the subscribers. There is no fixed time for the contribution to the scheme, the subscriber can do so if he/she wants to contribute monthly also he/she can continue to contribute in APY on a quarterly/half-yearly basis. The subscriber/subscriber can also exit the scheme subject to certain terms and conditions.

pension needs A pension becomes a support for unemployed people for their livelihood and provides them with a monthly income. As a person ages, his potential earning income decreases, so in these situations, pension plays a very important role. With time, the problems of living are increasing, and the cost of living is continuously increasing. This pension has become the support of the old man. Ensures a respectable living with a fixed monthly income in old age

Benefits of Atal Pension Yojana:

▪️Benefits on completion of 60 years of age: On exit from the scheme after attaining the age of 60 years, the subscriber will get the following benefits: Under the Atal Pension Yojana (APY) each account subscriber will be given a guaranteed minimum pension of Rs. This amount can be from 1000 per month to 5000 per month, it will be decided based on the contribution of the customer. An amount of Rs 5000 per month will be provided to the customer whose age is 60 years or more.

▪️Guarantee of minimum pension amount to the spouse of the subscriber after death: In case of death of the original subscriber, the pension amount payable to the subscriber will be given to his/her spouse. They will also be given the minimum pension amount till death like the mill customer.

▪️Nominee to receive pension amount: In case of death of both the original subscriber and his/her spouse, the subscriber’s nominee will be given a pension amount up to 60 years of the subscriber.

▪️The minimum amount of contribution as per section 80CCD(1) is eligible for a tax benefit in the pension system, Atal Pension Yojana. Voluntary Emergency Evacuation: If the original subscriber decides to withdraw before attaining the age of 60 years, the subscriber will be given the actual income earned based on his contributions, after deducting bank charges, subject to certain terms and conditions.

▪️The subscribers who joined the Atal Pension Yojana on March 31, 2016, if they decide to withdraw before attaining the age of 60 years, then those subscribers will not get the income earned from the government co-contribution. However, when these subscribers joined the scheme, they received government co-contribution.

Options for “death before attaining the age of 60 years”:


▪️In case of the death of the original subscriber, the pension amount payable to the subscriber will be given to his/her spouse. They will also be given the minimum pension amount till death like the mill customer.

▪️In case of the death of both the original subscriber and his/her spouse, the subscriber’s nominee will be given a pension amount of up to 60 years of the subscriber.

▪️If the age of the original subscriber is not 60 years, till the death of the spouse of the original subscriber, the pension amount will be the same as that of the original subscriber. This amount will be additionally added to the account of the original subscriber’s spouse in his/her name

▪️According to the rules of Atal Pension Yojana, the entire Sanchi amount of the deceased subscriber will be given to his or her husband or wife, in the absence of the husband or wife, the entire amount will be given to the nominee.

Atal Pension Yojana account can also be opened online by a person having a bank account using the net banking facility of the bank. The applicant can open his/her account by logging in to his/her account and searching “Atal Pension Yojana” in the dashboard setting. For this, the applicant must fill out a form, in which the nominated details will be filled. Then submit that filled form, allowing premium auto debit to that applicant. This way, you can also take advantage of it by joining the Atal Pension Yojana.

▪️FAQ▪️

What is the amount given in Atal Pension Yojana?

Under the pension scheme focused on unorganized sector workers, the amount for pension will be determined based on what was the subscriber’s contribution. This amount can be 1,000, 2,000, 3000, 4000, or even 5000 on this basis, the age of the resident customer must be 60 years. This fixed amount will be credited to the customer’s bank account every month.

What happens to the entire accumulated amount after the death of the subscriber in Atal Pension Yojana?

▪️In case of the death of the original subscriber, the pension amount payable to the subscriber will be given to his/her spouse. They will also be given the minimum pension amount till death like the mill customer.

▪️In case of the death of both the original subscriber and his/her spouse, the subscriber’s nominee will be given a pension amount up to 60 years of the subscriber.

Does the default nominee have to be blood-related?

In the case of the unmarried subscriber, he can choose any other person as his nominee, but in the case of marriage, the subscriber will have to show the complete details of his marriage in the scheme account. spouse or Aadhaar details of the enrolled person can be given.

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