Atal Pension Yojana: Is the facility of premature exit available in APY? What happens to your deposited amount if you are not able to continue investing for a long time after starting it? Know about it here.
To secure old age, a scheme is run by the Government of India, Atal Pension Yojana. It is also known as APY. Through Atal Pension Yojana, a pension of up to Rs 5000 can be taken every month in old age. Any person between the age of 18 years to 40 years who is not a taxpayer can invest in it. The investment amount varies according to age.
To avail the benefit of APY, it is necessary to invest in this scheme for at least 20 years. But suppose you started investing in this scheme and you were not able to continue the investment for a long time. Now, will the amount that has been deposited for a few years be refunded or not? Is the facility of premature exit available in APY? This question often arises in people’s minds. Know about it here-
Is there a facility of pre-mature exit in APY?
If you start investing in Atal Pension Yojana, but are not able to continue it for a long time and want to stop it midway i.e. want to do pre-mature exit, then you also get this option in this scheme. . But in case of Premature Exit, only the amount deposited by you in your account is returned to you. You do not get the money deposited by the government.
How many installments does the account close after not paying?
If for some reason you have not been able to pay your installment, but you do not want to make a premature exit but want to continue the account, then there is no need to worry. Even if you are not able to pay some of the installments in between, your account is not closed immediately. You can continue the installment later by paying penalty.
But if you do not deposit any amount for 6 consecutive months, then in this situation your account is sealed. If you do not deposit the amount for a year, then the account is deactivated and if you do not deposit the contribution for two years, your account is closed by the government.
