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.
Atal Pension Yojna is a good initiative and CM Yogi Adityanath ji will apply it soon.
Sir,
I filled the online APY registration form via SBI but due to technical error of SBI fathers name was taken automatically as my spouse name. The bank and APY help both are unable to correct and divert me towards each other. Kindly do the need ful corrections.
Thank you
Sir my name is G. praveen kumar i had joined Atal pension scheme in2015 aug till but not recive any govt subsidy who r the elgible for govt subsidy ?
How to change my bank account in Atal Pension Yojna
NRI s working abraod are eligible?
My age is 35 . if I passed away in 40 age , then my nominee can withdraw my total deposit ?
Husbands wife dono kipension ho or husband ki death ho jaye to wife ko dono pension milegi kya please reply
How to check my balance & get statement of APY
I contribute 409 rs. Every month. Bt I Am not satisfied
What is pran no