Atal Pension Yojana 2021 Scheme Online Details & Benefits

(*अटल पेंशन योजना Yojana*) – APY Atal Pension Scheme 2021 online Apply, Atal Pension yojana application form download, APY eligibility, features, benefits of APY and check online application status of APY at http://www.pfrda.org.in/
Atal Pension Scheme or अटल पेंशन योजना Yojana has been launched by the central government with an aim to benefit all the welfare schemes of the central government government by Arun Jaitley, Nirmala Sitharaman . Arun Jaitley, Nirmala Sitharaman and his cabinet have introduced this scheme to the A citizen of India of central government. Under this scheme all Pension Scheme will be benefited. In this article, we will provide information about the application process, how to apply, eligibility criteria, Beneficiary List, and Status and necessary documents in online mode. As per the announcement on Original launch in 2010-11. Relaunched on 9 May 2015 , Ministry of Finance Ministry will implement this scheme.

Atal Pension Scheme 2021 | Atal Pension Yojana Registration, Eligibility & Benefit

APY Scheme short Details
Scheme Name Atal Pension
Launch date Original launch in 2010-11. Relaunched on 9 May 2015
Application Present Status Active
Scheme Benefit Pension Scheme
Date of Published 03/05/2021
Date of Updated 03/05/2021

About Atal Pension Scheme Details

Summary:

Update: More than 40 lakh citizens have enrolled for the Atal Pension Yojana in the current fiscal year. The Pension Fund Regulatory and Development Authority (PFRDA) announced on Tuesday that the Atal Pension Yojana now has over 2.63 crore shareholders.

The Atal Pension Yojana is a government-run pension scheme in India. This system, which replaces the Swavalamban Yojana, was created to provide old-age income protection to unorganized-sector employees. PM Narendra Modi launched the Atal Pension Yojana in Kolkata on May 9, 2015. The programme aims to encourage employees in unorganised industries to save for their future.

Subscribers to the Atal Pension Scheme would receive a fixed minimum monthly pension of Rs.1000/-, Rs.2000/-, Rs.3000/-, Rs.4000/-, and Rs.5000/- based on their contributions. Atal Pension was developed with the aim of providing retirement benefits to unorganised sector employees. They will prepare for their retirement by contributing to this plan.

Atal Pension Yojana

APY Yojana 2021 – Atal Pension Scheme

Name of Scheme APY -Atal Pension
in Hindi अटल पेंशन योजना योजना
Official Launched by central government
Beneficiaries A citizen of India
Major Benefit Pension Scheme
Scheme Objective Provide financial security to the individuals at the time of retirement.
Scheme under central government
Post Category Yojana
Official Website http://www.pfrda.org.in/

Important Dates

Starting Date to Apply Online Year 2015
Online application Form Last Date NA

Atal Pension Scheme Eligibility Criteria

Beneficiary Guidelines

  • The subscriber should be between the ages of 18 and 40.
  • It is important to have a savings account or to open a new savings account.
  • One must have a cell phone number, which must be given when filling out the form.

Who is not entitled for government assistance under the APY?

The government co-contribution benefit under APY is not available to beneficiaries of any statutory social security schemes. Some of the Acts for which no government coordination has been given are mentioned below.

  • The Employees Provident Fund and Miscellaneous Provisions Act of 1952 governs the employees’ provident fund.
  • Act of 1948 establishing the Coal Mines Provident Fund and other miscellaneous provisions.
  • 1966 Simmons Provident Fund Act
  • In 1955, the Assam Tea Garden Provident Fund and Miscellaneous Provisions was created.
  • Employees Provident Fund and Miscellaneous Provisions Act, 1961, in Jammu and Kashmir.
  • Any other type of social security programme that is mandated by law.
  • Contribution Chart in APY

Atal Pension yojana Benefits

he Atal Pension Yojana (APY) scheme was announced by the Government of India in the 2015-2016 budget with the purpose of helping individuals who are working in the unorganised sector.

  • A pension of up to Rs.5,000 is paid per month
  • Tax benefits are provided
  • The Indian Government co-contributes towards the scheme
  • Risk-free scheme

Key Features of Scheme

  • The APY funds are run by Pension Funds appointed by PFRDA in accordance with the government’s investment strategy. The subscriber has no control over the investment strategy or the Pension Fund.
  • SMS updates will be sent to APY subscribers on a regular basis with details about their account balance, donation credits, and so on.
  • Subscribers will make a request to the affiliated bank for a fixed monthly pension after reaching the age of 60.
  • On the due date, the APY module will lift demand, and it will continue to do so until the sum is retrieved from the subscriber’s account.

Contribution Chart for the APY Scheme: Monthly Contributions

Entry Age
(In Years)
Years Of Contribution Monthly Pension – ₹ 1,000 | Indicative Return Of Corpus – ₹ 1.70 Lakh Monthly Pension – ₹ 2,000 | Indicative Return Of Corpus – ₹ 3.40 Lakh Monthly Pension – ₹ 3,000 | Indicative Return Of Corpus – ₹ 5.10 Lakh Monthly Pension – ₹ 4,000 | Indicative Return Of Corpus – ₹ 6.80 Lakh Monthly Pension – ₹ 5,000 | Indicative Return Of Corpus – ₹ 8.50 Lakh
18 42 42 84 126 167 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1097
38 22 240 480 720 957 1196
39 21 264 528 792 1054 1318

How to apply APY Scheme Online

  • The APY scheme is available at all nationalised banks. Individuals can open an APY account at these banks.
  • The account opening forms can also be found on the bank’s websites. Individuals can obtain the application form by downloading it.
  • English, Telugu, Tamil, Odia, Marathi, Kannada, Gujarati, and Bangla are all present in the application form.
  • The bank application form must be completed and submitted.
  • It is essential to have a valid mobile phone number.
  • A photocopy of your Aadhaar card is needed.

How to open Atal Pension Yojana Account?

  • Go to any bank where you have a savings account, such as SBI, ICICI, HDFC, or any other.
  • Complete the form (download english form or hindi form)
  • Make sure you fill out all of the necessary fields.
  • Since a mobile number is needed, it must be entered.
  • Provide your Aadhar card number in the form if you have one (but its not compulsory)
  • You must also have spouse information if necessary, as well as candidate information.
  • You will choose the amount of pension you will need in the future, and the bank official will write the appropriate monthly payment on the form based on your selection.

Subscribers should be aware of the following:

If the donation sum is not paid, the following consequences will occur:

  • Accounts are frozen after six months.
  • Accounts are deactivated after 12 months.
  • Account will be closed after 24 months.
  • The subscriber must ensure that his or her bank account is sufficiently funded to allow for the automatic debit of donation funds.

How to Fill Atal Pension Yojana Form

Important Document

Required Document to Apply Online

  • Applicant’s Aadhar Card
  • Mobile number
  • Identity card
  • Proof of permanent address
  • Passport size photo

APY scheme Important Dates

Starting Date to Apply Online Year 2015
Online application Form Last Date NA

Important Links

Event Links
APY Brochure Click Here
APY Subscriber Information Brochure in Hindi/English Click Here
APY Scheme Details Click Here
APY – Contribution Chart Click Here
Atal Pension Yojana 2021 Official Website

FAQs

What is the maximum age for APY?
The minimum age to participate in APY is 18 years old. The maximum age limit for the pension fund is 40 years because one must contribute for a minimum of 20 years and the investment matures when one hits the age of 60.

Is the Atal Pension Yojana a good idea?
The Atal Pension Yojana is beneficial, particularly for those who do not have access to some kind of pension plan. It is simple to function because of the versatile contribution amount and the ability to increase or decrease the contribution amount at any time during the tenure. Furthermore, because of the government’s support, it is a risk-free investment choice.

What documents must I submit to apply for the APY Scheme?
Identity evidence, address proof, and a document with the date of birth are all necessary to apply for the APY scheme. No other documents will be needed if a copy of the Aadhaar card is submitted with the application form.

Who does not qualify for the Atal Pension Yojana?
The Atal Pension Yojana is not available to the following citizens.

  • Not a resident of India.
  • Individuals under the age of 18 or over the age of 40.
  • Individuals with a valid Aadhaar number but no active phone number.
  • Individuals that are not covered by a pension plan.

Is it possible to have several pension accounts under the APY plan?
No, under the APY system, you cannot have more than one pension plan.
Each individual has their own APY account.

Is there a tax deduction for APY?
The APY is eligible for tax benefits under Section 80CCD of the Income Tax Act of 1961, which provides a 50,000 tax deduction.

Is it possible to remove funds from APY?
When the recipient hits the age of 60, APY provides a monthly pension. You are not permitted to withdraw any funds from the scheme until you reach the age of eighteen.

How do I fill out an Atal Pension Yojana application?
The form can be downloaded from the NSDL website and filled out in BLOCK LETTERS. The bank will fill out personal information, pension information, offer declarations and authorizations, and the section Acknowledgement – Subscriber Registration for Atal Pension Yojana (APY).