Pradhan Mantri Yojana

What is Atal Pension Yojana? Its benefits, rules, registration and all other information

The Atal Pension Scheme is a pension scheme supported by the Government of India. It was inaugurated by Prime Minister Narendra Modi on May 9, 2015 in Kolkata. Its aim is to provide pension facilities to the people of the unorganized sector.Atal Pension Scheme

Atal pension scheme benefits

  • The Government of India has decided to contribute 50 percent or 1,000 rupees per contribution of every contributor every year for five years.

Complete information about the Atal Pension Scheme

  • According to the government announcement, any person between the ages of 18 and 40 can join this scheme.
  • You have to submit pension premium every month up to the age of 60 years.
  • It will be easy to make a premium deposit in the account of Atal Pension Scheme. In this scheme, premium will be made under auto-debit facility.

How much pension will you get on your deposit

  • For example, if you want a pension of 1000 rupees per month and you are 18 years old, you will have to deposit 42 rupees every month for 42 years.
  • At the same time 40 years of age will have to deposit 291 rupees for 20 years every month.
  • For the person who applied for a pension of Rs 1000, if he dies, then his nominated heirs will get Rs 1.7 lakh.
  • Similarly, 2000, 3000, 4000, or maximum of Rs 5000 per month pension seekers will have to pay premium per month according to age.

Rules and regulations of atal pension scheme

  • If not deposited for six months, the account holder’s account will be sealed.
  • If not deposited for 24 months, account holder’s account will be closed completely.
  • If not deposited for 12 months, the account holder’s account will be disabled.

How to apply atal pension scheme

  • Every account holder will have to fill the authorization form and submit it to his bank.
  • In this form, the account number, spouse and nominee should be written in writing.
  • Must fill the authorization letter

Short summary : 

  • The Prime Minister had started the Atal Pension Scheme on May 9, 2015.
  • This scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA).
  • The main objective of this scheme is to increase the number of people coming under any type of pension scheme.
  • This scheme is available for all Indian citizens between the age of 18-40 years.
  • This scheme is Rs. Provides a fixed pension for customers between 1000 to 5000.
  • It is mainly targeted to workers of the unorganized sector.
  • Under this scheme, to avail the benefits of the scheme after the age of 60, a person has to contribute at least 20 years before getting pension.
  • Official website: http://www.jansuraksha.gov.in
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