Atal Pension Yojana is an annuity plot primarily focused on the disorderly area like house cleaners, landscapers, conveyance young men, and so on. This plan supplanted the past Swavalamban Yojana which wasn’t acknowledged well by individuals.

The objective of the plan is to guarantee that no Indian resident needs to stress over any ailment, mishaps or sicknesses in mature age, giving a conviction that all is good.

Private area representatives or workers working with such an association that doesn’t give them annuity advantage can likewise apply for the plan.

There is a choice of sorting an out annuity of Rs 1000, Rs 2000, Rs 3000, Rs 4000, or Rs 5000 on achieving an age of 60. The benefits will be resolved dependent on the person’s age and the commitment sum.

The benefactor’s mate can guarantee the annuity upon the giver’s demise and upon the passing of both the donor and his/her life partner, the chosen one will be given the amassed corpus.

Be that as it may, if the donor passes on prior to finishing 60 years old, the life partner is additionally given an alternative to either leave the plan and guarantee the corpus or proceed with the plan for the equilibrium time frame.

According to the venture design set somewhere near the public authority of India, the gathered sum under the plan is to be overseen by the Pension Funds Regulatory Authority of India (“PFRDA”).

The Government would likewise make a co-commitment of half of the complete commitment, or Rs. 1000 for every annum, whichever is lower, to all qualified endorsers who had joined between June 2015 and December 2015 for a time of 5 years i.e., for monetary years 2015-16 to 2019-20. The supporters ought not be essential for some other legal federal retirement aide plans (For e.g.: Employee’s opportune asset), or ought not be settling annual assessments, to benefit Government’s co-commitment.


To profit profits by the Atal Pension Yojana, you should satisfy the beneath prerequisites:

Should be a resident of India.

Should be between the age of 18-40

Should make commitments for at least 20 years.

Should have a ledger connected with your Aadhar

Should have a substantial portable number

The individuals who are profiting advantages of Swavalamban Yojana will be consequently moved to Atal Pension Yojana.

How to Apply?

Follow these means to profit the advantages of Atal Pension Yojana 

All nationalized banks give the plan. You can visit any of these banks to begin your Atal Pension Yojana account.

Learn more about: What is Pradhan Mantri Awas Yojana?

Atal Pension Yojana structures are accessible on the web and at the bank. You can download the structure from the authority site.

The structures are accessible in English, Hindi, Bangla, Gujarati, Kannada, Marathi, Odia, Tamil, and Telugu.

Top off the application shape and submit it to your bank.

Give a substantial versatile number, on the off chance that you haven’t just given to the bank.

Present a copy of your Aadhaar card.

You will be sent an affirmation message when the application is endorsed.

Significant Facts to think about Atal Pension Yojana 

Since you will make intermittent commitments, the sums will be charged naturally from your record. You need to ensure that you have adequate equilibrium in your record before each charge.

You can build your premium at your will. You simply need to visit your bank and converse with your chief and roll out the essential improvements.

In the event that you default on your installments, a punishment will be collected. A punishment of Rs. 1 every month for a commitment of each Rs. 100 or part thereof.

In the event that you default on your installments for a half year, your record will be frozen and if the default proceeds for a year, the record will be shut and the excess sum will be paid to the supporter.

Early withdrawal isn’t engaged. Just in cases like demise or terminal sickness, the endorser, or his/her chosen one will get the whole sum back.

If you close the plan before the age of 60 for some other explanation, just your commitment in addition to premium procured will be returned. You won’t be qualified to get the public authority’s co-commitment or the premium acquired on that sum.

Highlights and Benefits of Atal Pension Yojana

The principle highlights of the APY plot are referenced beneath:

The Indian Government ensures the base annuity that will be paid to the person after retirement.

Under Section 80CCD, people are qualified for Atal Pension Yojana tax reductions for the commitments made towards the plan.

All ledger holders are qualified to join the APY conspire.

People will begin accepting benefits once they arrive at the age of 60.

Private area representatives who are not given any annuity benefits are likewise permitted to apply for Atal Pension Yojana conspire.

You have a choice of accepting a fixed benefit of Rs.1,000, Rs.2,000, Rs.3,000, Rs.4,000, or Rs.5,000 once you arrive at 60 years old.

If there should arise an occurrence of your destruction during the plan, your companion can either guarantee the commitments or complete the span of the plan.

You can also use our: Sukanya Samriddhi Yojana Calculator

Atal Pension Yojana Penalty Charges

In the event of deferred installments, the underneath referenced (APY) punishment charges will be imposed consistently:

Punishment of Re.1 will be imposed if there should be an occurrence of commitments of up to Rs.100 each month.

Punishment of Rs.2 will be charged if there should be an occurrence of commitments somewhere in the range of Rs.101 and Rs.500 each month.

Punishment of Rs.5 will be imposed for commitment somewhere in the range of Rs.500 and Rs.1,000 each month.

Punishment of Rs.10 will be charged in the event of installments above Rs.1,001 each month.

Contingent upon the annuity sum, the APY punishment charges will be a fixed sum.

In the event that there is a stoppage in installments, the beneath referenced focuses apply:

In the event that there are no installments made for a term of a half year, the record will be frozen.

The record will be deactivated if there are no installments made for a span of a year.

The APY record will be shut if installments are not made for a term of two years.

FAQs on Atal Pension Yojana 

Q: Can I apply for Atal Pension Yojana on the web?

A: No, at present there are no arrangements to apply for Atal Pension Yojana on the web. You need to go to your bank and round out the structures.

Q: What are the records needed to apply for the Atal Pension Yojana Scheme?

A: To apply for the Atal Pension Yojana plot, you need to round out the frame and present a copy of your Aadhar Card. No different archives are required.

Q: How will I know whether the benefits plot is actuated?

A: You will get a SMS alert on your enrolled portable number, illuminating you when the annuity conspire is initiated.

Q: When is the last date to join the Atal Pension Yojana Scheme?

A: The Atal Pension Yojana Scheme doesn’t have a last date to join. Present your application before June first to join the plan for the coming year. The plan is re-established on June first consistently.

Q: What are the base and greatest age to join this plan?

A: The base age is 18 years. The plan is likewise open to undergrads. The greatest age is 40 years. This is on the grounds that the base commitment period is 20 years. At 60 years old, you will begin getting your benefits.

Q: Is my cash safe? Will the plan be changed when the public authority changes?

A: The Atal Pension Yojana conspire is passed by the Parliament of India in the spending meeting. The plan won’t be ended if there is an adjustment in the Government, and your commitment is protected. Any succeeding Government has the option to just change the name of the annuity conspire.

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