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.
Sir
Thanks for your communication, I want a reply on who are the eligible candidates under APY,
kindly give the complete guidelines who are eligible under this, For Ex:.-
(a) if any person who is at present is above the age of 18 years, is not having any taxable
income and is not filing any Income tax return is either eligible under this or not.
(b) Similarly any person who is at present is above the age of 18 years and is having taxable
income and he / she is filing Income tax return is either eligible under this or not.
(c) If any person who is at present not an income tax assesee but in future his income cross
the taxable limit, or viceversa whether he / she is eligible or not under the APY.
Kindly clarify the above for which I will be thankful to you.
Thanking you
As all of us are aware that APY has been introduce to provide social security . In this connection I like to say that the upper limit of pension amount is Rs 5000/- only, but the way price of any essential commodity / treatment cost every thing is going up do you feel that after 20-30 yrs actually it will help us in terms of providing financial support.
Here my submission is if Govt increase the upper cap to at least Rs 2500/- then actually the objective of the scheme may be fulfill.
In this scenario the subscriber also has a wide range of option to increase his contribution as his / her monthly income is going up…
It a request if Govt can think over it to increase the upper cap to at least Rs 25K per month it will help all of us a lot & actually provide some stability in terms of financial support in the retirement age .
what is the interest rate on the total money paid by a person if he is no more after paying the indicative monthly contribution for some years
Sir My name is shashi prakash and i enroll in atal pension yojna but i am not receive any document from your side, and every month from my saving account debit primium. i have my pran no. pls help me.
Good initiative 🙂
1. MY DOB IS 14-11-1975. aM I ELIGIBLE NOW FOR APY
2. IS AMOUNT INVESTED IS COUNTABLE IN TAX SAVING
This scheme is only for non Tax payers
Can I withdraw if can’t continue to pay after 3years
no
My previous month premium is postponed due to insufficient fund, but it has not been yet deducted although there has sufficient fund, so what can I do?
pronati maity contact your bank.