Atal Pension Yojana: The government has launched Atal Pension Yojana (APY) to encourage social security among the people associated with the unorganized sector. So that people associated with the unorganized sector continue to have a source of income in old age.
Atal Pension Yojana: The government has launched Atal Pension Yojana (APY) to encourage social security among the people associated with the unorganized sector. So that people associated with the unorganized sector continue to have a source of income in old age. The Pension Fund and Regulatory and Development Authority (PFRDA) has issued its master circular. In this, it will be easier to improve the online service and to onboard people i.e. to join the scheme. It will be easier than ever for APY subscribers and new users to join the scheme. This circular has been issued on 31 January 2024.
According to the PFRDA circular, the central record keeping agency Protean e-Governance (PCRA) has launched eAPY. In this the subscription process has been simplified. In this, digital enrollment through Aadhaar eKYC/XML/Virtual ID will become easier than before. This will save people’s time, effort, money etc. Also, through this, people will not have to go to the bank branch to avail the scheme.
How to apply online for Atal Pension Yojana?
New subscribers can apply for Atal Pension Yojana online through the service of PCRA. Through this you will also be able to check APY service online.
New users can register in three ways
eAPY service is available without any charge and there will be no extra cost for using the service.
1. Offline XML-Aadhaar based KYC
2. Online based eKYC
3. Virtual ID
You have to keep these in mind before applying online
1 The information given in eAPY registration matches your bank records.
2. There should be balance in the savings account to pay the first installment of Atal Pension Yojana.
3. Your name and date of birth given in Aadhaar should be correct.
You can also apply through internet banking
For example, one can apply for Atal Pension Scheme through ICICI Internet Banking Service.
Step 1 – First login to ICICIBank.com.
Step 2 – Click on Customer Service.
Step 3 – Click on Service Request.
Step 4 – Enroll in Atal Pension Yojana from your bank account section.
Step 5 – Fill in your information and submit. Your Atal Pension Yojana account will be opened in one working day.
What is Atal Pension Yojana?
The government has brought Atal Pension Yojana in the Budget 2015-16 keeping in view the security of income in old age. Through this scheme, the government is encouraging the common people, especially those associated with the unorganized sector, to save as much as possible. People associated with the unorganized sector also have to be protected from the risk of not having income after retirement. This scheme is being run by Pension Fund Regulatory and Development Authority (PFRDA).
Deposit just Rs 210 and get monthly pension of Rs 5000
By depositing just Rs 210 every month, you can get a maximum pension of Rs 5,000 every month after retirement i.e. after 60 years. The name of this government scheme is Atal Pension Yojana in which guaranteed pension is given every month. According to the current rules, if a maximum of Rs 5,000 is added for monthly pension at the age of 18 years, then you will have to pay Rs 210 every month. If you pay the same amount every three months, you will have to pay Rs 626 and if you pay every six months, you will have to pay Rs 1,239. To get a pension of Rs 1,000 per month, if you invest at the age of 18, you will have to pay Rs 42 per month.
Will get pension of Rs 5,000 every month
Under Atal Pension Yojana, customers get pension ranging from Rs 1,000 to Rs 5,000 every month. The Government of India guarantees the minimum pension benefit. The central government contributes 50 percent of the subscriber’s contribution or Rs 1,000 annually, whichever is less. Government contributions are paid to people who are not covered under any statutory social security scheme and are not taxpayers. Under the scheme, pension of Rs 1,000, 2000, 3,000, 4,000 and 5,000 is available. Investment also depends on the amount of pension. You get more benefits if you join at an early age.
