Atal Pension Yojana

Atal Pension Yojana scheme is being focused on the unorganized worker of the citizen of India for their retired this scheme is to encourage the worker to save the plutocrat till their retirement. An unorganized sector means the worker is not registered or not fixed term of job like farming, rickshaw pulling, fisherman, etc. Under this scheme, there is a guarantee minimum pension is up to 5000 per month will give till the age of 60 years, depending upon the subscriber how much they contributed. All bank holders can join a pension scheme.

2022-06-29 10:46:35 - Jay Morya

Eligibility for pension scheme:-

Atal pension scheme applies to all Indian citizens under 18 to 40 years.
The bank account is linked with a registered mobile number of an Aadhaar card
Should contribute a minimum of 20 years
The exit age is 60 years

The benefit of the Atal pension yojana:-

The government will contribute 50% or 1000 RS, whichever is lower than your amount in the scheme.
Tax benefit under section 80CCD
Risk-free
The scheme is regularised by the pension fund regulatory and development authority (PFRDA)

Document required for contributing to Atal pension yojana:-

Atal pension yojana scheme application form
Photo id identity:- Aadhaar card, pan card, driving license, or voter id any( one of them)
Saving account
Proof of address:- the electricity bill, ration card (any one of them)

The process to contribute to the Atal pension yojana:-

The step is given below:-

All nationalized banks provide the application form or download it from the bank site or download from the Official website pension fund regulatory and development authority (PFRDA)

The application is available in many languages.

Aadhaar photocopy is a must.
Proof of address of photocopy is a must.
Photocopy of saving bank account front page
All the documents must submit to the bank.

Withdrawal of Atal pension yojana:-

Exit in case of death:- in case of death of a subscriber, it will be settled to a spouse; it is the default nominee. If the spouse wants to continue to ATY scheme, she can take benefit, or he/she can close.

Premature exit before 60 years:-

There is two option:-

Voluntary exit:-

In this case subscriber, he or she wants to exit before 60 years. While withdrawing at the same time, the account maintenance charge and investment management of the APY scheme will be deducted. Amount contributed by the government will not be given, and the amount contributed by the subscriber in the APY scheme will be given.

In case of illness:-

Exit before 60 years accept only specific illness

the list is given below:-

Kidney failure
Cancer
Coma
Paralysis
total blind
Serious accidents etc.

An important point before contributing to the APY scheme

Subscribers can open only one account
The scheme is only for a citizen of India
It is mandatory to give a nominee detail if the subscriber is married spouse's name will be a default.
While account opening, subscribers want to submit the detail of their spouse or nominee.

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