Under Atal Pension Yojana, the subscribers contribute every month, quarter or half-yearly through the Auto Debit Facility of their Saving Bank Account or PO Saving Account. Can be submitted
New Delhi. The disturbing news of economic slowdown, job loss and Salary Cut due to Coron Crisis (Covid-19 Crisis) is constantly coming. Meanwhile, good news related to Atal Pension Yojana has come out. Subscribers of the Atal Pension Scheme (APY Subscribers) can submit Pending Contributions by 30 September 2020 for April-August 2020. For this, no penalty will be charged from them.
One can deposit contribution by using auto debit facility
Subscribers of the Atal Pension Yojana, who have sufficient amount in their Saving Bank Account, will get their auto debit from the end of September without any penalty from their account. APY subscribers can deposit the contribution amount every month or quarter or half yearly by using auto debit facility in their saving bank account or post office saving bank account.
Atal Pension Yojana has become increasingly popular among the people in a very short time. Within 5 years of its launch, the number of its subscribers has been around 24 million. This pension scheme is a guaranteed pension scheme for the citizens of India. It was launched on 9 May 2015. The maximum of 52.55 percent of its subscribers are between 21 and 30 years old. The younger you get involved in this scheme, the more you will benefit. The Atal Pension Yojana is mainly for the unorganized sector employees.
There is a provision of pension from 1000 to 5000 rupees in the plan,
APY has a provision of pension of 1000 to 5000 rupees every month. People up to 18-40 years of age can join this scheme. However, only those who are outside the income tax slab can avail the benefit of the scheme. State Bank of India (SBI) and Private Bank are opening Atal Pension Yojana accounts, which are participating in the new APY nomination. APY is a Guaranteed Pension Scheme from the Government of India, which is run by PFRDA. The government guarantees the benefits related to pension received under it.
After the death of the subscriber, the wife and children will have
to invest for at least 20 years under the pension scheme. To take advantage of the Atal Pension Yojana, you must have an account with the bank, which should be linked to the Aadhaar card. After retiring from investing in APY, you can be entitled to get pension every month. The scheme provides for continuation of benefits to the family in case of untimely death of the subscriber. There is a provision for getting pension on the death of a person investing in the Atal Pension Yojana, on the death of his wife and also on the death of his wife.
The age of 30, with 52% of people as per the
Pension Fund Regulatory and Development Authority (PFRDA), according to the Pension Fund Regulatory and Development Authority (PFRDA), on 20 August 2020. Out of this, about 73.38 percent subscribers have opted for the Rs 1,000 pension plan and 16.93 percent have opted for the Rs 5,000 pension plan. Of the total subscribers, 43.52 per cent are female subscribers and 56.45 per cent are male subscribers. At the same time, 52.55 percent of the subscribers are aged between 21 and 30 years. It is clear that people under the age of 30 are preferring APY the most.
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