The goal of this programme is to give financial stability to all of the nation’s citizens, with a focus on the underprivileged.
Over 6 crore individuals have registered for the government’s main social security programme, Atal Pension Yojana or APY. In the current fiscal year, about 79 lakh individuals have signed up for this programme. This information came from the Finance Ministry. On May 9, 2015, the Atal Pension Yojana was introduced. The goal of this programme is to give financial stability to all of the nation’s citizens, with a focus on the underprivileged, the impoverished, and those in the unorganised sector or those over 60.
Read More: Mahadev betting case: App owner Ravi Uppal detained in Dubai
Money can be invested in it by anyone between the ages of 18 and 40. After turning 60 years old, a subscriber is assured, depending on his payment, a monthly pension of Rs 1,000 to Rs 5,000 under the system. The subscriber’s spouse receives the pension amount in the event of death. Atal Pension Scheme is run by Pension Fund Regulatory and Development Authority (PFRDA). Since it is a government scheme, there is an element of security in it.
Read More: Centre won’t revert to old pension scheme, Parliament told
If a person is 18 years old and wants a pension of Rs 5000 after the age of 60, then he will have to deposit Rs 210 every month, that is, he will have to save only Rs 7 per day. To get a pension of Rs 1,000 per month, if you invest at the age of 18, you will have to pay Rs 42 monthly.
The Pension Fund Regulatory and Development Authority (PFRDA) has previously launched a one-page basic APY flyer/handout in Hindi, English and 21 regional languages, among other steps to raise awareness of the plan.
Read More: Major Security Breach in Parliament as Man Storms Lok Sabha; ‘Not a Terror Attack’ | On Cam
You must review the eligibility requirements of the Central Government’s Atal Pension Scheme before submitting an application. Visit the bank office or research centre that is closest to you to submit an application for the Atal Pension Yojana. An employee or bank officer can assist you in filling out the paperwork. You will be required to provide several documents during the application procedure, including your income certificate, PAN card, and Aadhar card. Please provide these documents with accuracy and precision. You will need to indicate your preferred pension plan when you apply. You will need to choose between an annual or monthly pension based on your age. Additionally, you must decide on your payment schedule, which includes monthly, quarterly, pr annually. Once the application is approved, you will have to make regular payments as per the plan.
