Atal Pension Yojana (APY) is a pension scheme introduced by Government of India, for citizens of India. This scheme is mainly intended to address the pension needs of the unorganised working sector.
Atal Pension Yojana (APY) – Key features.
- A guaranteed minimum pension of Rs. 1000, 2000, 3000, 4000, and 5000 per month will be given at the age of 60 years depending on the contributions made by the subscribers.
- Any Indian citizen who have a bank account and the age is between 18 and 40 years shall be eligible for this scheme.
- Beneficiaries of any other social security scheme shall not be eligible for this scheme. (List of other social security schemes mentioned here is given later in this post.)
- All the contributions are to be remitted in monthly mode through auto debit facility from savings bank account of the subscriber.
Read More: Atal Pension Yojana (APY) – Complete details
Atal Pension Yojana (APY) – Contribution and benefit calculator.
Atal Pension Yojana (APY) – Procedure for opening account
- Approach the bank branch/post office where individual’s savings bank account is held (open a savings account if the subscriber doesn’t have one.)
- Provide the Bank A/c number/ Post office savings bank account number and with the help of the Bank staff, fill up the APY registration form.
- Provide Aadhaar and Mobile Number. This is not mandatory, but may be provided to facilitate the communication regarding contribution.
- Ensure keeping the required balance in the savings bank account/ post office savings bank account for transfer of monthly / quarterly / half yearly contribution.
Read More: Atal Pension Yojana (APY) – Complete details