Atal Pension Yojana is for all bank account holders aged 18 to 40 years. This scheme is for those who are not income tax payers and the contribution varies depending on the pension amount chosen.
Atal Pension Yojana: There are many schemes of the Central Government which have secured the future of investors. One of these is Atal Pension Yojana (APY). This scheme is an initiative of the government to provide financial security to the people of the unorganized sector and to meet their future needs. APY is operated by the Pension Fund Regulatory and Development Authority (PFRDA).
About the Scheme
Atal Pension Yojana is for all bank account holders aged 18 to 40 years. This scheme is for those who are not income tax payers and the contribution varies depending on the pension amount chosen. Based on the contribution made by the subscriber after joining the scheme, the subscriber will get pension after the age of 60 years. Under this, investors will get a guaranteed minimum monthly pension of Rs 1000 or Rs 2000 or Rs 3000 or Rs 4000 or Rs 5000.
These are the conditions
In case of untimely death of the subscriber (death before the age of 60 years), the spouse can continue to contribute to the subscriber’s Atal Pension Yojana account for the remaining vesting period, till the original subscriber attains the age of 60 years. Methods of payment, subscribers can contribute to Atal Pension Yojana on a monthly/quarterly/half-yearly basis.
Withdrawal from the scheme
Subscribers can voluntarily exit the Atal Pension Yojana subject to certain conditions, including deduction of government co-contribution and returns/interest thereon. About 47% of the total subscribers enrolled under the scheme are women. More than 7.66 crore persons have subscribed under the Atal Pension Yojana as of 29 April 2025. Atal Pension Yojana Scheme is being operated through a total of 60 stakeholders including 8 lead banks of India.
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