Sarkari Yojana Atal Pension Scheme: Atal Pension Scheme is a pension scheme for the poor and unorganized sector workers. Under the scheme, pension is available for life after 60 years. In Atal Pension, maximum pension of Rs 5,000 per month and Rs 60,000 per year is available
Sarkari Yojana Atal Pension Scheme: Atal Pension Yojana is a pension scheme for the poor and unorganized sector workers. Under the scheme, pension is available for life after 60 years. Atal Pension provides a maximum pension of Rs 5,000 per month and Rs 60,000 annually. Atal Pension Yojana (APY) is a flagship scheme of the central government of Prime Minister Narendra Modi, which aims to bring a social security system for all citizens of India, especially the poor, deprived and unorganized sector workers. The scheme was launched on 9 May 2015. It is being run by the Pension Fund Regulatory and Development Authority (PFRDA). Atal Pension Yojana is a great help for the poor and unorganized sector workers. This scheme provides pension security for life and provides financial stability to the family.
According to the Ministry of Finance, more than 56 lakh new account holders have been enrolled so far in the financial year 2024-25. The total enrollment under the scheme has crossed the seven crore mark. This scheme in its tenth year has achieved great success in bringing the most vulnerable sections of the society under the ambit of pension coverage.
Benefits of Atal Pension Yojana
Under this scheme, beneficiaries get a minimum guaranteed pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000 or ₹5,000 every month after the age of 60. The amount of pension depends on your contribution. For example, if someone starts depositing money for a monthly pension of ₹1,000 at the age of 18, then he will have to pay only Rs 42 per month. At the same time, for a monthly pension of ₹5,000 at the age of 40, a maximum monthly contribution of ₹1,454 will have to be made. The specialty of this scheme is that it provides ‘complete security cover’. If the beneficiary dies, then his spouse gets the same pension. After the spouse, the nominee gets back the entire money deposited till the age of 60.
Eligibility
- This scheme is open to all Indian citizens aged between 18 to 40 years.
- The applicant must have a bank account.
- Income tax payers are not eligible for this scheme.
- The contribution amount varies according to the pension amount.
How to apply?
- Offline Method
- Go to your bank where you have a savings account.
- Take the registration form from the bank or download it from their website.
- Fill the form with the correct information and choose the pension option.
- Submit your Aadhaar card and other required documents along with the form.
- Once the application is accepted, you will receive a message on your registered mobile number.
Online Process
- Go to your bank portal or mobile banking app.
- Login with login ID and password.
- Search for ‘Social Security Scheme’ or ‘Atal Pension Yojana’.
- Fill the application form and provide all the required details.
- Give consent for auto-debit for monthly contribution.
- Verify the details before submitting the form and then submit it.
