In this post you can know Atal Pension scheme 2022 Apply online, अटल पेंशन योजना yojana registration, eligibility, features, benefits, How to Apply, application status.
अटल पेंशन योजना yojana | Atal Pension Scheme | APY Yojana Online apply | Atal Pension Yojana form, Registration, How to Apply.
Atal Pension Yojana online Apply, Registration: You are welcome on our website APY scheme as you know, we give all the updates related to government scheme on our website in a timely manner which is correct and accurate, we will give you information about Atal Pension Scheme. Atal Pension Scheme or अटल पेंशन योजना Yojana has been launched by the central government. Today we will tell you how you can take advantage of it, how to apply online for it, so read this post till the end.
अटल पेंशन योजना Yojana 2022 – Atal Pension Scheme Status Check at http://www.pfrda.org.in/
|APY Scheme short Details|
|Scheme Name||Atal Pension|
|Launch date||Original launch in 2010-11. Relaunched on 9 May 2015|
|Application Present Status||Active|
|Scheme Benefit||Pension Scheme|
|Date of Published||03/05/2022|
|Date of Updated||03/05/2022|
About Atal Pension Scheme Details
On May 9, 2022, the government of India’s flagship social security programme, the ‘Atal Pension Yojana’ (APY), will have completed five years of operation, with over 2.2 crore subscribers.
The full form of APY is Atal Pension Yojana, which is a government-sponsored scheme in which individuals can invest and earn a monthly pension after retirement. In the absence of the recipient, the benefits can be claimed by a partner, and in the absence of both, the corpus can be received in a lump sum by the applicant. The Atal Pension Scheme is designed to offer an income in the form of a pension to those who work in unorganised employment. Individuals in organised jobs who do not have recourse to some form of pension may, however, be beneficiaries of this pension yojana.
The Atal Pension Yojana, which replaced the previous Swavalmban Pension Yojana and is part of the National Pension Scheme, was introduced by the Indian government in 2015. Individuals who invested in the Swavalamban scheme before 2015 are eligible for the new pension scheme and will be moved to the APY scheme automatically. The APY scheme is governed by the Pension Funds Regulatory Authority of India. The Indian government contributed to the accounts that were established in 2015.
APY Scheme 2022 – Overview
|Name of Scheme||APY -Atal Pension|
|in Hindi||अटल पेंशन योजना योजना|
|Official Launched by||central government|
|Launched by||Arun Jaitley, Nirmala Sitharaman|
|Beneficiaries||A citizen of India|
|Major Benefit||Pension Scheme|
|Scheme Objective||Provide financial security to the individuals at the time of retirement.|
|Scheme under||central government|
Features and Benefits of the Atal Pension Yojana
The features and benefits of the Atal Pension Yojana scheme are described below.
- Flexible contribution: The monthly pension balance is determined by the contributions made under the APY scheme. Beneficiaries will feel compelled to make further contributions or develop the ability to do so in order to obtain a higher pension, or vice versa. The Funds Regulatory Authority of India recognises the need and permits the beneficiary to change the contribution sum once a year.
- Age restriction: As previously mentioned, people must be between the ages of 18 and 40 to be eligible for the pension scheme. The mandatory tenure of the scheme, i.e. 20 years, is the reason for the maximum age limit of 40 years.
- Withdrawal policies: After reaching the age of 60, beneficiaries will close the programme. Beneficiaries will close the scheme and begin collecting monthly pensions until they reach retirement age. This plan does not allow for early withdrawal. When the beneficiary passes away, the scheme is passed on to the spouse or, if there is no spouse, to the candidate.
- Regular source of income after retirement: Once an investor hits the age of 60, this scheme pays a monthly income. As a result, it gives those who do not have access to any other pension plan a sense of financial stability after retirement.
- Delay in donation and penalty: In the event of a contribution delay, the beneficiaries would be penalised.
Benefits of the Atal Pension Yojana include:
- The Atal Pension Yojana has sovereign backing since it is administered by the Pension Funds Regulatory Authority of India. It guarantees returns and eliminates the risks associated with investing.
- Easily transferable: This pension yojana helps a partner to take advantage of the scheme’s benefits after the beneficiary passes away. The partner has the option of receiving a daily monthly payment or a lump sum payment. The scheme would be passed to the candidate if there is no spouse.
- Tax advantages: The Atal Pension Scheme has a couple of tax advantages thanks to Section 80CCD of the Indian Income Tax Act of 1961. Section 80CCD, sub-section 1, provides for tax exemptions of up to 10% of a gross income of 1.50 lakh rupees. Section 80CCD, subsection 1B, provides an annual tax exemption of 50,000.
- The goal of providing tax benefits under the Atal Pension Yojana is to ensure that the beneficiaries’ monthly source of income is not disrupted by lowering their taxable income.
Objective of Atal Yojana
The following are the goals of the APY scheme:
- At the time of retirement, provide individuals with financial stability.
- Encourage the practise of saving from a young age.
- The programme is directed at the country’s unorganised market.
Monthly Contribution for Atal Pension Yojana
|Years Of Contribution||Monthly Pension – ₹ 1,000 | Indicative Return Of Corpus – ₹ 1.70 Lakh||Monthly Pension – ₹ 2,000 | Indicative Return Of Corpus – ₹ 3.40 Lakh||Monthly Pension – ₹ 3,000 | Indicative Return Of Corpus – ₹ 5.10 Lakh||Monthly Pension – ₹ 4,000 | Indicative Return Of Corpus – ₹ 6.80 Lakh||Monthly Pension – ₹ 5,000 | Indicative Return Of Corpus – ₹ 8.50 Lakh|
What You Should Know About APY
Here are a few main facts about the Atal Pension Yojana:-
- The government of India offers the APY scheme, which is a guaranteed pension scheme.
- An Indian citizen with a bank account can open a pension account.
- At the age of 60, the subscriber will earn a pension of $1,000, 2,000, 3,000, 4,000, and 5,000 dollars.
- Once a fiscal year, monthly contribution flexibility is available.
- Each age group has a different deposit number.
- The subscriber must keep the instalment balance in his or her savings account.
Documents required for Atal Pension Scheme?
- Ration card
- Aadhaar card
- PAN card / voter ID card / driving license / passport or bank passbook
Atal Pension Scheme Eligibility Criteria
Only the people mentioned below will be considered beneficiaries under the APY scheme.
- Citizenship of India
- 18 to 40-year-olds.
- Individuals with a working cell phone number.
- Individuals with a valid Aadhaar number and a valid bank account.
- Individuals that do not qualify for any other type of social assistance.
- Individuals who wish to invest in the Pension Yojana must commit to contributing for a minimum of 20 years and provide all necessary KYC information.
How to apply APY Scheme Online
- Pick up the Atal Pension Yojana scheme from your chosen bank or download the form from the bank’s website.
- Fill out the form completely and send it to the bank with photocopies of your Aadhaar passport.
- A confirmation message will be sent to the given mobile number once it has been accepted.
English, Bangla, Marathi, Tamil, Telegu, Gujrati, Odia, and Kannada are all present in the APY application form. You can collect the form in the language of your choice. The SMS service is also available for APY statements. You can choose to receive SMS alerts to the mobile number associated with your account. A periodic APY statement with account information and status will be sent to the number.
How to get the Atal Pension Yojana form and fill it out
The form for the Atal Pension Yojana can be obtained in one of the following ways:-
- Pay a visit to the participant bank’s nearest branch.
- Download the form from the participant bank’s official website.
- Obtain a form from the Pension Fund Regulatory and Development Authority (PFRDA) and open an account with them.
Procedure for Withdrawing from the Atal Pension Yojana
Individuals can only withdraw money from a bank branch if they meet the following criteria:-
- When he or she reaches the age of 60, the whole annuity sum may be removed.
- It can only be taken away by the age of 60 if you have a terminal illness or die. If an APY subscriber dies, the pension may be paid to his or her partner or a nominee.
Penalty Charges for the Atal Pension Yojana
The following are the penalty amounts for late contributions:-
|Monthly Contribution||Penalty For Delay|
|Up to ₹ 100||₹ 1|
|From ₹ 101 to ₹ 500||₹ 2|
|From ₹ 501 to ₹ 1,000||₹ 5|
|₹ 1,001 and more||₹ 10|
Other Pension Schemes
|Scheme Name||Entry Age|
|LIC Jeevan Akshay 6 Plan||30 years-85 years|
|Aditya Birla Sunlife Empower Pension Plan||25 years- 70 years|
|SBI Life Saral Pension Plan||18 years-65 years|
|HDFC Life Click2Retire||18 years-65 years|
|HDFC Life Assured Pension Plan||18 years-45 years|
|ICICI Pru- Easy Retirement||35 years-70 years|
|Reliance Smart- Pension||45 years-75 years|
|Bajaj Life Long Goal Pension Scheme||18 years-65 years|
|Bajaj Allianz Pension Guarantee||37 years-80 years|
|Max Life Forever Young Pension Plan||30 years-65 years|
Atal Pension Yojana Form
To enter the APY programme, you must fill out the application form. The form can be downloaded from the NSDL website or from the nearest bank branch that participates in this programme.
|Starting Date to Apply Online||Year 2015|
|Online application Form Last Date||NA|
|APY Brochure||Click Here|
|APY Subscriber Information Brochure in Hindi/English||Click Here|
|APY Scheme Details||Click Here|
|APY – Contribution Chart||Click Here|
|Atal Pension Yojana 2022||Official Website|
I. OPENING OF APY ACCOUNT
1. What is pension? Why do I need it?
A Pension provides a monthly income to the people during their unproductive years.
Need for Pension:
- Decreased income earning potential with age.
- The rise of nuclear Family
- Migration of earning members.
- Rise in cost of living.
- Increased longevity.
- Dignified life in the old age due to less financial dependence.
2. What is Atal Pension Yojana?
Atal Pension Yojana (APY), a pension scheme launched by Government of India is focused on the unorganized sector workers. Under the APY, minimum guaranteed pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will start after attaining the age of 60 years depending on the contributions by the subscribers for their chosen pension amount
3. Who can subscribe to APY?
Any Citizen of India can join APY scheme. The following are the eligibility criteria: –
- (i) The age of the subscriber should be between 18 and 40 years.
- (ii) He / She should have a savings bank account/ post office savings bank account The prospective applicants may provide mobile number to the bank during their Enrolments under APY to receive periodic updates on their APY account as well as on APY scheme. Aadhaar may also be provided at the time of enrolment as APY scheme is notified for the same.
4. Whether an employee of Central/State Government or Public Sector Undertaking and/or a NPS subscriber can subscribe to APY?
- YES, any Indian citizen within the age group of 18 – 40 years, can join APY Scheme
irrespective of his/her employment status with Govt./Public Sector, for availing benefits
guaranteed by Government of India under the scheme.
- Further, an existing NPS subscriber can also subscribe to APY, if he/she meetsthe basic
eligibility criteria, for availing benefits guaranteed by Government of India; under the
5. What are the benefits of joining APY scheme?
The benefit of minimum pension under Atal Pension Yojana would be guaranteed by the Government
6. What is the procedure for opening APY Account?
Approach the bank branch/ post office where individual’s savings bank account is held or open a savings account if the subscriber doesn’t have one.
7. Whether Aadhaar Number is compulsory for joining the scheme?
Atal Pension Yojana (APY) has now been included under the Section 7 of the Aadhaar Act. As per the provisions of the Act, any individual who is eligible to receive such benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication. Hence, it is desirable to provide Aadhaar Number for proper identification of the subscriber
8. Can I open APY Account without savings bank account?
No, the savings bank account/ post office savings bank account is mandatory for joining APY.
9. Is it required to furnish nomination while joining the scheme?
Yes. It is mandatory to provide nominee details in APY account.
10. Is there any provision of default nominee or blood relation?
If the subscriber is Unmarried they can nominate any other person as nominee and they have
to provide spouse details after marriage. If married, the spouse will be the default nominee.
The Aadhaar details of spouse and nominees may be provided.
11. How many APY accounts I can open?
A subscriber can open only one APY account. Multiple APY accounts are not permitted.
12. Can minor open APY account?
No. A minor cannot open an APY account.
13. If I have completed 40 years, can I join Atal Pension Yojana?
No, currently a person who is in age group of 18 years to 39 years 364 days can join Atal Pension Yojana.
14. Whether NRI is eligible to open APY Account?
Yes, NRI in the age group 18-40 years of age having a bank account with APY POP is eligible to open APY account.
15. After opening of APY account, what will happen if a subscriber becomes non-citizen of the country?
The scheme is open to the Indian citizens only. Hence, in that event the APY account will be closed and the net actual interest earned on his contributions (after deducting the account maintenance charges) will be refunded, whereas, the Government co-contribution, and the interest earned on the Government co-contribution, shall not be returned to such subscribers.
16. Whether various forms under APY are available online?
Yes, various Forms under APY can be accessed online at https://www.npscra.nsdl.co.in/nsdlforms.php
17. Is there any helpline number dedicated to APY Scheme where queries related to APY Scheme can be addressed?
Yes, the Toll Free Helpline number for APY Scheme is 1800-110-069
APY IN SOCIAL MEDIA
Whether information related to APY is available on social media? Yes, APY pages are available on social media on the following links:
PFRDA page available at:
- APY Ki Pathshala on Youtube– https://www.youtube.com/channel/UC5SuHg-O6ipH1J_HTfU17ug