Atal Pension Yojana chart | Atal Pension Yojana Benefit and Details
Last updated on March 9th, 2020 at 11:40 am
Atal Pension Yojana is a Social Security Scheme initiated by the Central Government of India, to ensure the financial security of the old age especially in the unorganized working class like Maids, Drivers, Gardeners etc
This scheme encourages the workers in the unorganized sectors to save a fixed amount monthly, to ensure that they will get a regular monthly pension, depends on the scheme they have joined, after 60 Years.
What are the Eligibility criteria for joining Atal Pension Yojana
You can Join the Atal Pension Yojana, if you meet below eligibility criteria:
- You are an India Citizen with a Valid Bank Account.
- Your age is in between 18 to 40
- You have the Aadhar as a KYC document (If you do not have Aadhar, when you join the scheme, you must submit it later)
Atal Pension Yojana monthly contribution
Any Indian Citizen whose age is above 18 years and below 40 can join the scheme by opening the APY account in any bank or Post Office.
The contribution of API will be deducted monthly, quarterly or semi- annually from your savings account (depends on the period you have selected for the payment) and the standing instruction you set in the bank or Post office, when you have joined the scheme.
Atal Pension Yojana chart
Find below the Atal Pension Yojana chart (Monthly Contribution amount). This may vary depends on your age.
|Age Of Entry||Monthly Pension Rs.1000||Monthly Pension Rs.2000||Monthly Pension Rs.3000||Monthly Pension Rs.4000||Monthly Pension Rs.5000|
What are the Charges for Atal Pension Yojana Default
If you have delayed any monthly contribution, Banks may collect additional amount from you, to retain your Atal Pension Yojana account. This amount may be Minimum Rs.1 to Rs.10 per Month.
If you have not payed your contribution for a period of 6 months, your account will be Frozen.
If your contribution failed for a continuous period of 12 Months, your account will be deactivated.
And After 24 Months, it will be closed.
So you must ensure that your bank account or Post office account, where the standing instruction is set for the auto payment of your APY contribution, has enough balances.
What are the Other benefits of Atal Pension Yojana
In case of the death of the subscriber, the husband/spouse of the subscriber will get the same amount of pension till his or her death.
After the death of both the subscriber and the spouse/husband, the nominee will get the pension corpus amount.
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