The magic of the Atal Pension Yojana (Atal Pension Yojana) is speaking to the heads of the people. That is why even during the Corona period, the number of its account holders has increased by more than 30 per cent. Prime Minister Narendra Modi also launched this scheme to provide a fixed amount of pension every month to the workers of the unorganized sector.
How many people opened the account?
According to information received from Pension Fund Regulatory and Development Authority (PFRDA), the pension sector regulator, by February 2021, 272.69 crore, meaning two crore 72 lakh 69 thousand people had opened accounts under the Atal Pension Yojana. The number of account holders of the scheme was 207.41 lakh on the last day of February last year. Meaning that it saw a sharp increase of 31.48 per cent in a period of one year. It is notable that in March last year, the lockdown was caused by Corona. Since then, the economy has slowed down. Despite this, there has been a sharp increase in the number of account openers in the Atal Pension Scheme.
What is Atal Pension Yojana
Atal Pension Yojana was launched by Prime Minister Narendra Modi (PM Modi) on 1 June 2015. Under this scheme, after the age of 60 years, the amount of Rs. 1,000 to 5,000 rupees will be given as pension to the beneficiaries. Under Atal Pension Yojana, the amount of pension is fixed according to the age and investment made by the beneficiaries. In Atal Pension Yojana 2021, not only can you be entitled to more pension every month by depositing less amount, but in case of untimely death your family can also benefit from it.
Premium has to be paid every month
Under this scheme, the applicant who has to open an account has to submit the premium every month. If he continues to collect premiums every month, after the completion of 60 years of age, he will be provided financial assistance in the form of monthly pension in the form of monthly pension by the government. The premium amount is automatically deducted from the applicant’s bank account.
At what age can an account be opened?
Beneficiaries must be between 18 and 40 years of age to apply to Atal Pension Yojana. If a person wants to join this scheme at the age of 18, then they have to pay a premium of Rs 210 every month. If a person is 40 years old, then they have to pay a premium of Rs 297 to Rs 1,454 every month. The premium amount is decided based on the age of the beneficiary and how much pension they want after 60 years.
See the details of premium here
For the convenience of the beneficiaries of Atal Pension Yojana, the government has launched the Atal Pension Yojana mobile application. Through this mobile application, now the beneficiaries of the Atal Pension Yojana can check the latest five contributions for free. Along with this, transaction details and e-PRAN can also be downloaded. The beneficiaries can also visit the official website of Atal Pension Yojana to check the details of their transactions. They will have to log in by visiting this website. For which they will have to give details of their PRAN and savings bank account. If there is no PRAN number then the beneficiary can also login to his account through his name, account and date of birth.
Also get rebate in income tax
If you are contributing to the Atal Pension Yojana, then you can also take advantage of this in income tax. Because, under this scheme there is a provision of tax benefit under Section 80CCD (1) of the Income Tax Act 1961. For this, you have to submit the premium submission certificate to the Income Tax Department. In this way, you can get pension in old age by opening an account under Atal Pension Yojana, now income tax will also be exempted.
How to open an account?
To join the Atal Pension Yojana 2021, it is mandatory for the beneficiaries to have a savings account in a bank. Not only this, the bank account of the applicant should also be linked to his Aadhaar number. Those who are income tax payers, do government jobs or are associated with an organized sector pension scheme like PF or ESI, then they cannot avail this scheme. Remaining persons can open the account of Atal Pension Yojana by visiting any government bank of the country.
