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.
I am a private employee with one of the hospital,and they are already get EPF benefit. am I applicable for APY?
and can i change my nominee option any time in case any problem? plz reply me
s pramanik you are not eligible because you’re already getting pf benefit. For more you can contact customer care.
Can a wife of Govt. Employee apply on this scheme
Government employees cannot apply for atal pension yojana scheme. They are already getting pension benefit through provident fund.
I am govt servant since 2007, I am applicable of this scheme
Hello SANJAYA SKUMAR SUBUDHI,
You are not allowed to apply for atal pension yojana scheme beacuse you are already getting benefit through PF. Hope this answers your query.
I am kamal, Can my father subscribe the APY because his age is 59 years old. Please notify me.
Hello Kamal,
You father cannot apply for atal pension yojana because the age to apply for apy is between 18-40.
I have joined APY and i am not a tax payer as well as not covered through any pension scheme. But, suppose in future a person gets a government job and then he joins NPS by his department and also a tax payer now.what will happen in that case?
Also if a person gets married in future and he want to enroll spouse name as well as alter nominee details. Then how is it possible ?
Please clarify….
i have not get my APYPRAN No Till Now
if subcriber death before 60 year , then how will get benifit of APY
can I nominate my son/daughter as my wife/spause is default nominee.
THANKS FOR YOUR REPLY, MY APY ACCOUNT GOT ACTIVATED FOUR DAYS BACK, NEITHER THE BANK HAS CHANGED THE NOMINEE NOR DEDUCTED ANY PREMIUM YET. EVEN HEAD OFFICE OF THE BANK HAS TOLD ME TO CONTACT LOCAL BRANCH ONLY.