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Saturday, 1 August 2020

Atal Pension Yojna full Detail

To join the scheme one must have a savings checking account, Aadhaar, and active mobile number. If an individual takes this scheme after 60, he has got to invest a minimum of 20 years to urge a pension

If you've got not taken any pension account so far and you would like to form an idea during which you would like to be entitled to a pension by paying less then the Central Government's Atal Pension Scheme is true for you. Under this, on reaching the age of 60, one gets a pension of Rs.1000 to Rs.5000 per month. It is often invested by an individual between the ages of 18 and 40.

Anyone between the ages of 18 and 40 can open an account

Anyone between the ages of 18 and 40 can open an Atal Pension Scheme account
To join the scheme, one must have a savings checking account, Aadhaar, and a lively mobile number
If an individual takes this scheme, he has got to invest a minimum of 20 years.
Investors can invest monthly, quarterly, or semi-annual i.e. for a period of 6 months.
The contribution is going to be auto-debited. That is, the fixed amount is going to be automatically deducted from your account and credited to your pension plan.
How much is going to be deducted depends on what proportion pension you would like after retirement?
In it, you'll claim tax break up to Rs 1.5 lakh under section 80c.


    You can make a contribution of Rs 42 to 210 per month

    image source: vikaspedia

    • For a pension of Rs 1,000 to Rs 5,000 per month, the subscriber will need to pay from Rs 42 to Rs 210 per month. this may happen when the plan is taken at the age of 18.

      On the opposite hand, if a subscriber takes up the scheme at the age of 40, he will need to make a monthly contribution starting from Rs 291 to Rs 1454.

      The more the subscriber contributes, the more pension he will get after retirement. However, it shouldn't exceed Rs 5,000. that's why the contribution also will be consistent with it.

      How to open an account

      You can open an account by getting to any bank

      You can download the Atal pension account form online
      You will need to refill this type and deposit it within the bank branch
      In addition, a photocopy of your mobile number and Aadhaar card also will need to be submitted.
      You will receive a confirmation message after the appliance is approved.
      An online account is often opened in SBI

      Eligibility of the beneficiary of Atal Pension Scheme

      The Atal Pension Scheme (APY) is for all Indian citizens between the ages of 18 and 40. To avail of the advantages of this scheme, everyone has got to pay the quantity fixed by the govt for a minimum of 30 years. Any checking account holder who isn't a member of any such Social Security scheme can avail of this scheme.

      For a monthly pension of Rs.1000 / - to Rs.3000 / -, the beneficiary will need to pay an age based contribution of Rs.5 / - to Rs.21 / -.

      The level of contribution will vary with the age of the person. an individual who joins at a younger age will have less contribution and more for older age.

      To encourage investment during this scheme, a replacement account is going to be credited to the account holder by the Central Government before 31-12-2017 within a maximum limit of Rs.1000 / - once a year or whichever is a smaller amount than 50% of the entire contribution within the account. (From 2013-14 to 2017-20) The savers of this Rashtriya Swavalamban Yojana are going to be automatically transferred to the Atal Pension Yojana.

    image source: 


    To take advantage of this scheme

    The account holder has got to refill the authorization form and submit it to his bank. during which details of the account number, spouse, and nominee (heir) need to be written. Under this scheme, the account holder has got to make sure that there's a hard and fast amount in his account monthly . If that does not happen, it is time to dump her and advance. These penalties are normal, like Rs 1 for each Rs 100, Rs 5 for 101 to 200 contributions, Rs 5 for Rs 201 to Rs 1,000 and Rs 10 for quite Rs 1,001.

    If payment isn't made ... If payment isn't made for six months, the account holder's account is often sealed. If payment isn't made within 15 months, the account holder's account is deactivated. The account of the one that doesn't make this payment for six months is totally closed. Anyone who doesn't have an account has got to open a checking account first and supply Aadhaar card and KYC information. At an equivalent time, the shape of 'APY' has got to be submitted. If you would like to exit the plan ...

    Under normal circumstances, an account holder in Atal Pension Scheme cannot opt-out of the Atal Pension Scheme till the age of 60 years. The account is often closed only in certain special circumstances, like after his death.
    important link::::
    image source: vikaspedia



    If you have an account with SBI Bank, you can avail this scheme through Net Banking

    • You must first login to SBI to apply.

    • Then click on the e-Services link

    • A new window will open with a link to the Social Security Scheme. There you have to click.


    • Then you will see 3 options, PMJJBY / PMSBY / APY. Here you have to click on APY i.e. Atal Pension Plan.

    • Then you have to fill in your complete information. Which correct account number, name, age, and address information should be given.

    • Which option are you choosing in the pension option, such as Rs? 5000 per month

    • Monthly contributions will then be determined based on your age.

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