How To Apply For Atal Pension Yojana

Atal Pension Yojana:

Atal Pension Yojana (APY) is a new and helpful yojana announced by Finance Minister for the people who are not members of any Social Security Scheme. In lay man’s language, this scheme is for the people working in private sector, whose jobs are not pensionable. Who have spent their whole life in private jobs dreaming of one or the other way to get pensions for rest of their lives. So, our FM has made their dream come true. Read on to know more about the yojana.

A person gets a certain amount as pension that depends upon the age of joining the scheme and the amount they contribute.  This may vary from 1000 to 5000 per month.

Benefits:

One of the major benefits and contribution by the central government is that they will contribute either 50% of the user’s contribution or Rs. 1000 per year for 5 years time period. If you are an Income Tax payee and you enroll for this scheme before 31st December, 2015**.  Another benefit is to the members of Swavalamban scheme, those will be transferred automatically to this scheme.

**The scheme has already been launched on 1st June, 2015.

Eligibility:

Anyone who has:

  1. a bank account.
  2. not a member of statutory social security scheme.
  3. age between 18 and 40 years.

That’s it.. This also concludes to a fact that minimum time of contribution to the scheme is 20 years.

Contribution:

A total of 5 plans are provided under this scheme out of which you can choose one for yourself. Each plan has different pension payments and contributions. The pension will be provided to the user and his spouse. A fixed amount – nominal one is to be paid every month by the enrolled person.

For example, the below given table is for the people who are willing to have a fixed pension of Rs. 1000.

Age Of Joining Years Of Contribution Indicative Monthly Contribution (in Rs.) Monthly Pension To Subscribers and to his spouse (in Rs.) Indicative Return Of Corpus To the Nominee Of the Subscriptions (in Rs.)
18 42 42 1,000 1.7 Lakh
20 40 50 1,000 1.7 Lakh
25 35 76 1,000 1.7 Lakh
30 30 116 1,000 1.7 Lakh
35 25 181 1,000 1.7 Lakh
40 20 291 1,000 1.7 Lakh

 

Similarly is the contribution amount for 2000, 3000, 4000 and 5000 respectively.

 

Age Of Joining Years Of Contribution Indicative Monthly Contribution (in Rs.) Monthly Pension To Subscribers and to his spouse (in Rs.) Indicative Return Of Corpus To the Nominee Of the Subscriptions (in Rs.)
18 42 84 2,000 3.4 Lakh
20 40 100 2,000 3.4 Lakh
25 35 151 2,000 3.4 Lakh
30 30 231 2,000 3.4 Lakh
35 25 362 2,000 3.4 Lakh
40 20 582 2,000 3.4 Lakh

 

Age Of Joining Years Of Contribution Indicative Monthly Contribution (in Rs.) Monthly Pension To Subscribers and to his spouse (in Rs.) Indicative Return Of Corpus To the Nominee Of the Subscriptions (in Rs.)
18 42 126 3,000 5.1 Lakh
20 40 150 3,000 5.1 Lakh
25 35 226 3,000 5.1 Lakh
30 30 347 3,000 5.1 Lakh
35 25 543 3,000 5.1 Lakh
40 20 873 3,000 5.1 Lakh

 

Age Of Joining Years Of Contribution Indicative Monthly Contribution (in Rs.) Monthly Pension To Subscribers and to his spouse (in Rs.) Indicative Return Of Corpus To the Nominee Of the Subscriptions (in Rs.)
18 42 168 4,000 6.8 Lakh
20 40 198 4,000 6.8 Lakh
25 35 301 4,000 6.8 Lakh
30 30 462 4,000 6.8 Lakh
35 25 722 4,000 6.8 Lakh
40 20 1164 4,000 6.8 Lakh

 

Age Of Joining Years Of Contribution Indicative Monthly Contribution (in Rs.) Monthly Pension To Subscribers and to his spouse (in Rs.) Indicative Return Of Corpus To the Nominee Of the Subscriptions (in Rs.)
18 42 210 5,000 8.5 Lakh
20 40 248 5,000 8.5 Lakh
25 35 376 5,000 8.5 Lakh
30 30 577 5,000 8.5 Lakh
35 25 902 5,000 8.5 Lakh
40 20 1454 5,000 8.5 Lakh

So get benefit of this Govt. scheme as soon as possible to make your future more secure and live happily in old age with out any kind of money problem.

Download Atal Pension Yojana Form In English

Download Atal Pension Yojana Form In Hindi

Leave a Reply