Atal Pension Yojana Benefits
The Atal Pension Yojana (APY) Scheme got the approval from the Government of India.
Atal Pension Yojana (APY) fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.
Eligibility for Atal Pension Yojana (APY):
Atal Pension Yojana (APY) is open to all bank account holders. The Central Government would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from Financial Year 2015-16 to 2019-20, who join the NPS between the period 1 st June, 2015 and 31st December, 2015 and who are not members of any statutory social security scheme and who are not income tax payers. However, the scheme will continue after this date but Government Co-contribution will not be available.
The Government co-contribution is payable to eligible PRANs by PFRDA after receiving the confirmation from Central Record Keeping Agency at such periodicity as may be decided by PFRDA.
Age of joining and contribution period: The minimum age of joining APY is 18 years and maximum age is 40 years. The age of exit and start of pension would be 60 years. Therefore, the minimum period of contribution by the subscriber under APY would be 20 years or more.
UNDER APY “SPOUSE CAN NOT BE NOMINEE”. HOWEVER IN THE BANK IN WHICH I OPTED FOR APY IS UNABLE TO CHANGE IT. THEY ARE ALSO SAYING “WE CAN NOT AUTO DEBIT THE AMOUNT OF PREMIUM FROM THE SAVING’S ACCOUNT” (WHICH IS NECESSARY FOR APY).. PLEASE HELP
Hello San,
You are right, SPOUSE CAN NOT BE NOMINEE. And by default, she is the nominee. Try calling their head bank branch or on the customer care number of apy.
Sir, After Registered APY, Then Which Type Of Paper I Will Recieved Any Bond Paper From Government For Pension.
We are not sure, if you will receive any bond paper of Atal Pension Yojana from the government.
Thanks for the prompt reply. In that case, what would be the maturity amount for my APY scheme and how does the monetary benefits vary from low-income segment folks?
I am a private employee with one of the IT firms, am I applicable for APY?
Atal Pension Yojana’s purpose is financial inclusion in India. Everyone is invited to be a part of apy. The main focus of Indian government is disadvantaged and low-income segments of society but if you are getting provident fund benefit from your IT firm, still you can join. The only difference is that you will not get any contribution from the government.
govt servant is applicable of this scheme.
Government servants can not apply for Atal Pension Yojana (apy) Scheme because they are already get PF benefit.
how can I monitar my atal penson yojana account onlin. I have my APY PRAN no. in my sms but can’t trace my status on line.
there is no way to monitor atal penson yojna online. Talk to your bank.
You can view at below given link
https://npslite-nsdl.com/CRAlite/EPranAPYOnloadAction.do
Good news to here but 1 question we make the payment 18yrs after some circumtance we’ll not pay what the next procedure?
Sreeshyla kumar kindly read here http://atalpensionyojana.in/penalty-charges/ to know more.
CAN WE FILE ONLINE FORM
You can not apply online. For atal pension yojna you will have to visit your bank branch, where you have bank account. There you will have to fill the form.