The Atal Pension Yojana (APY) scheme, got launched on May 9, 2015, by PM Narendra Modi at Kolkata. The aim of the scheme is to addresses the old age income security of the working poor and is focused on encouraging and enabling them to join the National Pension System (NPS).
PM Narendra Modi, along with Atal Pension Yojana Scheme (APY), he will launch two insurance schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
To address the longevity risks among the workers in unorganised sector and to encourage the workers in unorganised sector to voluntarily save for their retirement, who constitute 88% of the total labour force of 47.29 crore as per the 66th Round of NSSO Survey of 2011-12, but do not have any formal pension provision, the Government had started the Swavalamban Scheme in 2010-11. However, coverage under Swavalamban Scheme is inadequate mainly due to lack of guaranteed pension benefits at the age of 60.
The Government announced the introduction of universal social security schemes in the Insurance and Pension sectors for all Indians, specially the poor and the under-privileged, in the Budget for the year 2015-16. Therefore, it has been announced that the Government will launch the Atal Pension Yojana Scheme (APY), which will provide a defined pension, depending on the contribution, and its period. The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA).
Under the APY, the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by any subscriber under APY would be 20 years or more. The benefit of fixed minimum pension would be guaranteed by the Government. The APY would be introduced from 1st June 2015.
If I opt for Rs 5000 per month pension plan, after attaining age 60, i will start getting 5000 per month, but I want to ask, till what time will i continue to get this amount, i.e. for how many months will i get this amount, till I am alive or what?
You will have to contribute till the age of 60. After that as per Atal Pension Yojana, you will start getting pension as per your contribution. This will remain as long your alive. Hope this answers your query.
can apply for atal pension yojana online through net banking?
To apply for atal pension yojana you must visit your local bank branch and fill the form. For more information you can call your bank customer care no.
sir meri age 19 hai or mai abhi job bhi nhi krta maine pansion yojana mai apply to kr diya but kya ise cancel kiya jaa sakta h agar koyi problam ho toh pls sir batayiye sir
Hi… My age is 35 and i am NRI…. can i join this scheme…also i am having account in State Bank of Travancore… i am from Kerala… Could you please advise me if i should contact my local bank as i have not got any reply from them as i filled the application form with the adhar card and send it to them.
Thanking you in advance.
Now NRIs can apply for atal pension yojana. Read here for more – http://atalpensionyojana.in/pfrda-roping-in-banks-to-tap-nris-for-national-pension-scheme/
Can the corpus amount under APY be withdrawn by the subscriber after attaining age of 60 years even before his death, whenever he requires it?
The Exit before age 60 would be permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease. For more call on this tool free number: 1800-180-111 / 1800-110-001
I am a beneficiary 0f employees provident fund but not a tax payer. If I join Atal pension Yojana ,As per govt order I will not get any govt contribution in my APY. Now my question is that is there any difference in monthly contribution or same as others(those who are not covered under any social securty scheme) . kindly intimate and oblige, thanks
I don’t think beneficiary of employees provident fund can apply for Atal Pension Yojana.
AS per the information from pfrda- even if you are an Income tax payer and have PF A/c and also joined the other TWO PM Schemes i.e PMJJBY &PMSBY still one can join APY. The only issue is you will not get the contribution from Govt.side. This is confirmed on toll free No.1800-110-708. You may also talk to them and get first hand information.
You are right on that account. No contribution from Govt.side, if they are connected with other scheme.
my age is 47 i have tp pay extra premium whatever for balance 13 year please can i join this scheme. reply me on mail please.
The age to join Atal Pension Yojana is between 18 to 40 years. For better accurate information on Atal Pension Yojana contact your local bank.
MY AGE 53 . CAN I JOIN
Yes, can apply for Atal Pension Yojana. The minimum age of joining Atal Pension Yojana (APY) is 18 years and maximum age is 40 years. Contact your Bank for more information on Atal Pension Yojana.
R/sir hamne pahale nps main pran card bana rakha hai janswablaman yojna ke tahet . par koi bank wala pension khate me jama karne ko taiyar nahi hai apy se to pahale pension yojna sahi hai apni age to 45yr hai
Age to Join Atal Pension Yojana is between 18-40. swavalamban yojana kay leye aggregator ko paisay jamma karanay hogay.