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.
Is this Plan available for HDFC customers.I am holding a savings a/c with HDFC and aged 39 yrs.Am i eligible to buy this plan?
I got confused because under my HDFC Net banking under “Social security plans i could see only Pradhan mantri schemes (Accident & Life insurance) but not the APY.
Let me know please!
You can apply for Atal Pension Yojana as your age is less than 40 but it is not available online. Contact your local bank, there you will have to fill the form on the application. Your bank will help you out on that regard.
Online application is allowed?(SBI users)
Age 32, Non Taxable income. PMJJBY &PMSBY activated. Aadhaar Card available.
Hi, My question is after subscribing to Atal Pension Yojana, if i die before 60s in that case my beneficiary can continue this scheme? if not what happen if she/he don’t continue? what about the amount already paid?
In case if the Atal Pension Yojna holder dies before the age of 60 then the nominee registered at the time of opening account will get pension. Other wise the fund accumulated in the account can be withdrawn. For more information contact your bank.
I want pension after 50 yrs. in my wife name & at this time 26 yrs old. Dear sir please suggest me.
Atal Pension Yojna will start only after the age of 60. Not before that.
I have Voter Id, But my Adhar Card have not come yet.. Valid licence & Electricity bill in my mane..Moreover i have an savings account in SBI Siriti-Muchipara Branch.
Every time I went to the bank for joining APY, the bank manager turned me down by saying “without ADHAR card,you cant do it”. Moreover the service manager said that their branch will not do any APY scheme.
What I should do? now
Plz Help me..I want to do it as early as possible.
Manger is right on one par,t that without “ADHAR card” you can not avail for Atal Pension Yojana. Secondly, APY is available on all the branches on SBI. In case if you are facing problem then contact SBI customer care and share your problem.
Kya atal pension plan… Abhi sbi ki sabhi branches me nhi aaya hai??? Pls confirm.. Kyuki… Our branches is SBI MTPS 6608. Ye durlov pur, west bangal ki branch h.Sbi wale Mana ker rhe hai..ki yaha abhi scheme nhi ayi…
Please clear..this issue
Even today I visited the bank, I got the same reply.
Atal Pension yojana is available at all the branches of SBI. Call Customer Care to know more about Atal Pension Yojana.
Call on this number 1800-180-111 / 1800-110-001 and tell them about the problem.
I dont have an aadhaar card. can I join atal pension yojana
You must have aadhaar card if you want to apply for atal pension yojana.
What happen, if some mis-happening occurs to me after contributing few years say 5 years, will my nominee will have to continue this further for any benefit
And what happen in case If I pass away after getting pension for few time i.e. suppose at age of 60 years and 4 months, i pass away, what will happen then???