PM Atal Pension Yojana 2022: Atal Pension Yojana will get 5 thousand per month pension – Atal Pension Yojana is a government pension scheme for the unorganized sectors of India. This scheme (PM Atal Pension Yojana Apply Online Form) was launched by the Prime Minister of India in the year 2015.
The Pension Fund Regulatory and Development Authority (PFRDA) is the government body that manages APY under the National Pension Scheme architecture. The objective of providing this Atal Pension Yojana is to ensure that no one in India has to worry about illness, accident, old age ailments while giving a sense of security.
PM Atal Pension Yojana: Atal Pension Yojana will get 5 thousand per month pension
under APY, depending on the contribution made by the subscribers, at the age of 60 years, 1,000 / – or 2,000 / – or 3,000 / – or 4,000 or 5,000 / – per Monthly guaranteed minimum pension will be given. In the below sections we have provided you the necessary information about the Atal Pension Yojana 2021.
APY Yojana 2021 Benefits
Under the APY scheme, pension is guaranteed by the Government of India. The applicant of Atal Pension Yojana gets a guaranteed pension of 1000/- to 5000/- per month. The tax benefits under this APY scheme are the same as those applicable under NPS (National Pension System). APY scheme is not only beneficial for the applicant but also for his/her spouse.
In case of death of the applicant, the spouse will be entitled to pension. In case of death of both the applicant and the spouse, the nominee will be entitled to get the same pension. The Pradhan Mantri Atal Pension Yojana scheme is also beneficial as the government co-contributes Rs 1000/- per year or 50% of the total contribution, whichever is less.
The APY account can be withdrawn in the following situations.
On attaining 60 years of age:- On attainment of 60 years, if the investment returns APY, the subscriber shall submit a request to the concerned bank for obtaining a guaranteed minimum monthly pension or higher monthly pension. (APY) embedded in the Guaranteed Return. Equated monthly pension is payable to the spouse (default nominee) on the death of the subscriber. The nominee will be eligible for the refund of pension amount accumulated till the age of 60 years of the subscriber on the death of both the subscriber and his wife.
APY In case of death of subscriber after 60 years of age due to any reason:- In case of death of subscriber, equal pension will be available on death of spouse and both (subscriber and spouse). The accumulated pension amount up to the age of 60 years of the subscriber will be returned to the nominee.
Leave before 60 years of age
If a subscriber, who has availed Government co-contribution under APY (Pradhan Mantri Atal Pension Yojana), exits APY voluntarily at a future date, he/she will be required to contribute only to the APY by him/her. The amount made will have to be paid. Contribution will be refunded along with net. Actual earned income earned on their contributions (after deducting account maintenance charges). Government co-contribution and accrued income earned on Government co-contribution will not be refunded to such subscribers.
Death of the subscriber before the age of 60 years
Atal Pension Yojana In case of death of the subscriber before the age of 60 years, the subscriber’s spouse will have the option to continue contributing to the subscriber’s APY account, which will be in the name of the spouse. can be kept on. , for the remaining vesting period, until the original subscriber attains the age of 60 years. The spouse of the subscriber shall be entitled to receive the same pension amount as the subscriber till the death of the spouse. Or, the entire accumulated amount under APY will be returned to the spouse/nominee.
Other important facts about PM Atal Pension Yojana
It is mandatory to give the details of the nominee in the APY account. If the applicant is married, then his/her wife/husband will be the default nominee. Unmarried applicant can nominate any other person as nominee and they have to give details of spouse after marriage. Aadhar details of spouse and nominees can be provided. Candidate can open only one APY account (Atal Pension Yojana Account) and it is unique. Multiple accounts are not allowed.
How to open PM Atal Pension Yojana 2021 Account?
Contact the bank branch/post office where a person has a savings bank account or open a savings account if the customer does not have a savings account. Provide Bank Account Number / Post Office Savings Bank Account Number and fill Atal Pension Yojana Registration Form with the help of bank staff. Provide Aadhar/Mobile Number. This is not mandatory, but may be provided to facilitate communication regarding the contribution. Ensure to maintain required balance in savings bank account/post office savings bank account for transfer of monthly/quarterly/half yearly contribution.
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