APY Pension Scheme: This Atal Pension Yojana (Atal Pension Yojana) was widely implemented by the government in the whole country! All states and union territories were included in this. A total of 5.25 crore shareholders have joined this scheme so far. Atal Pension Yojana (APY) account can be opened by any Indian citizen in the age group of 18 to 40 years. Under this pension scheme, the shareholders get a lifetime pension of Rs 1,000 to Rs 5,000 per month from the age of 60 on the basis of contribution amount.

APY Pension Scheme

APY Pension Scheme

In the Atal Pension Yojana (Atal Pension Yojana), on the death of the shareholder, his wife or husband gets the pension amount. On the death of both, till the age of 60 years, the deposited amount is returned to the nominee. The special thing is that those people do not get the benefit of this Atal Pension Yojana (APY)! Those who are taxpayers! They are provided a way to get pension through NPS! Talk on NPS in the next article!

APY Pension Scheme

This Atal Pension Yojana (Atal Pension Yojana) has been brought by the Government of India especially for the working and poor people. The government had brought this scheme for the old age income security of such people. This is a voluntary savings pension scheme to address longevity risk among workers in the unorg.zed sector and for their retirement. It is believed that a population of about 50 crores is working in the unorg.zed sector. This Atal Pension Yojana (APY) was brought with the intention of ensuring social security for such unorg.zed sector workers.

Atal Pension Scheme

In the budget for the year 2015-16, the government announced the introduction of universal, social security schemes in the areas of insurance and pension for all Indians, especially the poor and exploited sections. So it’s announced! That the government will start the Atal Pension Yojana! Which will provide pension on the basis of contribution and its duration!

Pension Yojana

Under Atal Pension Yojana (Atal Pension Yojana), the minimum period of contribution by the contributor will be 20 years or more! The benefit of fixed pension is guaranteed by the government. There is another provision in this Atal Pension Yojana (APY)! If someone makes a mistake in paying the money, then the way has also been suggested for him! There is a provision of penalty for default. Banks have to collect additional amount for delayed payments. Such an amount ranges from a minimum of Rs 1 per month to Rs 10 per month! Detailed information in this regard can be obtained from the concerned agency.

Atal Pension Yojana

Significantly, the pension amount is determined according to the contribution determined by the Atal Pension Yojana department. How much contribution will be needed to get a monthly pension of Rs 5000 in the Atal Pension Yojana (APY)! Let’s discuss about it! Will have to contribute to the scheme for a minimum of 20 years! After which you can get pension! Contribution calculation is based only on age and contribution amount.

Why Atal Pension Yojana is popular

The number of enrollments in Atal Pension Yojana (APY) has increased continuously since its inception. Compared to 2021-22, there has been an increase of 20 percent in 2022-23! The total AUM of the pension scheme is more than Rs 28,434 crore. And since the beginning, this Atal Pension Yojana (Atal Pension Yojana) has earned an investment of 8.92 percent!

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The post APY Pension Scheme: Good news, now pension of Rs 5000 will be available every month in Atal Pension Yojana, see here appeared first on SRB Post.