Atal Pension Yojana was started on 1st June 2015 by the Prime Minister of our country, Shri Narendra Modi. Under this scheme, after the age of 60 years of the beneficiaries, an amount of Rs 1000 to Rs 5000 will be given as a pension. Under Atal Pension Yojana, the amount of pension will be fixed according to the investment made by the beneficiaries and age.
The Government of India has started a pension program after 60 years of age, when you no longer have the means of income, thinking about your income, which is named Atal Pension Yojana. The objective of Atal Pension Yojana is to give financial security to those retired people who were serving in the unorganized sector and who were not provided financial benefits or pension after retirement.
Here is the pension scheme is given by the government, which makes it worthy to get a monthly pension from 1000 to 5000, this facility means you will get this pension facility in India
Atal Pension Scheme-APY
The applicant applying under this scheme will have to pay a premium every month. Financial assistance will be provided in the form of a monthly pension in old age. To apply for Atal Pension Yojana, the age of the beneficiaries should be 18 to 40 years, then only they can take advantage of this scheme. If a beneficiary wants to join this scheme at the age of 18 years, then he will have to pay a premium of Rs 210 every month, and those who are 40 years old, then they will have to pay a premium of Rs 297 to Rs 1,454
On completion of 60 years of age: Atal Pension Yojana subscribers can withdraw after the completion of 60 years. In this situation, the pension will be provided to the subscriber after the withdrawal of the pension. In the event of death of the subscriber: In the case of the death of the subscriber, the pension amount will be provided to the spouse of the subscriber. And in case both of them die then the pension corpus will be returned to their nominee.
Withdrawals before 60 years of age: Withdrawals before 60 years of age from Atal Pension Yojana are not allowed, But it has been authorized by the division in some special circumstances. For example, in the event of the death of the beneficiary or in the event of a terminal withholding
Get Rs 10000 per month pension
As you all know, Atal Pension Yojana was started to provide pensions to the old citizens. Through this scheme, an amount of ₹ 1000 to ₹ 5000 is provided as a pension. This amount is provided on investments made by the beneficiaries. The citizens of the country will be able to get a fixed pension after the age of 60 years through this scheme. The maximum amount to get a pension under this scheme is ₹5000. An amount of up to ₹ 10000 can be obtained through this scheme by investing separately by both the husband and wife. This information is provided by the Pension Fund Regulatory and Development Authority
Tax Benefits Under Atal Pension Yojana
Atal Pension Yojana was launched to provide pensions to the employees of the unorganized sector. Through this scheme, a pension of ₹ 1000 to ₹ 5000 is provided per month on completion of 60 years according to the investment of the applicant. Under this scheme, tax benefits will also be provided to the customers.
Atal Pension Yojana transaction details
All of you know that Atal Pension Yojana was started for the citizens of the unorganized sectors. This is a retirement pension scheme. Now the Atal Pension Yojana mobile application has been launched by the government. Through this mobile application, now the beneficiaries of Atal Pension Yojana can check the recent five donations for free. With this, the transaction details and e-PRAN can also be downloaded. Beneficiaries can also visit the official website of Atal Pension Yojana to check their transaction details. They have to log in to this website. For which they have to give their PRAN and Savings Bank account details. If the PRAN number is not available then the beneficiary can log in through his/her name, account, and date of birth.
Purpose of Atal Pension Yojana
The main objective of this scheme is to secure the future by giving pensions to the workers of the unorganized sector and making them self-reliant. It is a social security scheme whose purpose is to provide social security to the beneficiaries who are included in the scheme. Empowering people through PM Atal Pension Yojana
Exit Before 60 Years
As you all know that Atal Pension Yojana is a type of pension which is provided after retirement. The benefit of this scheme can be availed by the account holder after the age of 60 years. For this, the holder will have to provide the payment of contribution till the age of 60. Under Atal Pension Yojana, the account holder cannot exit from the scheme before 60 years of age. But in certain circumstances, such as in case of illness or death, exit can be done from Atal Pension Yojana.
Eligibility for Atal Pension Yojana
The age limit of membership of the Prime Minister Atal Pension Yojana should be between 18 to 40 years. In this scheme, the amount is already determined by the subscriber in the retirement fund, which is deducted from the customer’s bank account from time to time, this amount is the choice of the subscriber.
Benefits of Atal Pension Yojana
- If a person who is a subscriber of Atal Pension Yojana dies, then the nominee will get that amount.
- This scheme will be available to the beneficiary after the age of 60 years.
- Beneficiaries will be able to reduce their taxable income by up to Rs 50,000 through Atal Pension Yojana.
- Once you invest in the pension scheme, then you cannot withdraw this amount before 60 years, if there is no extraordinary situation before you.
- You can apply for Atal Pension Yojana in both online and offline modes.