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.
I have been allotted PRAN No. 500059026593 on 03.05.16. It was approved wef 04.05.16. I received E-Mail from Communications.cra@nsdl.co.in on 05.05.16 confirming my Subscriber Registration. My account was scheduled to be auto-debited on 05.05.16, but there is still no Debit from my Account. My Banker is clueless about this. Even Customer care could not help. Any suggestions please?
Are Nri’s eligible for atal pension yojana
i have joined atal pension yojna but till date i have not received any proof of joining of yojna????
is there any taxable amount after geting whole end sum?
hello sir: how much long time i will get benefit of it.like after dies can my family get any benefit??
sir mene account open karwa liya or 8-9 installment bhi jma ho gyi or har month installment mere account me se deduction ho rhi par aabhi tak bhi mera pran card bankar nhi aaya h. is card ke liye kha apply karna padega plzzzzzz help me.
I’ve attended 35 years. Now I want to start APY scheme. If I contribute ₹500 per month, then what will be my pension amount?
Features of APY : APY is a voluntary, periodic contribution based pension system, under which the subscriber
would receive the following benefits:
(i) Central Government guaranteed minimum pension amount : Each subscriber under APY shall
receive a Central Government guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or
Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.
(ii) Central Government guaranteed minimum pension amount to the spouse : After the subscriber’s
demise, the spouse of the subscriber shall be entitled to receive the same pension amount as that of the
subscriber until the death of the spouse.
(iii) Return of the pension wealth to the nominee of the subscriber : After the demise of both the
subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as
accumulated till age 60 of the subscriber.