Atal Pension Yojana Apply (Premium Amount, Chart, Online Application Form, Eligibility, Documents)
Atal Pension Yojana is a very big scheme launched by Prime Minister Narendra Modi. This scheme was mainly started for all the elderly people of the country so that they can get pension after 60 years of age and they can live well. Under the scheme, there is a provision to get a pension of 1000 rupees to 5000 rupees after 60 years. Let us know all the information related to the rules of Atal Pension Yojana, online application process, official site APY premium chart helpline number etc.
|Name||Atal Pension Yojana|
|When launched||1 June 2015|
|Who launched||Prime Minister Narendra Modi (India)|
|Department||Pension Fund Regulatory and Development Authority (PFRDA)|
|Beneficiary||All workers of unorganized sectors|
|Purpose||To give pension after 60 years of age|
|Toll Free Number||1800-180-1111|
What is Atal Pension Yojana
Atal Pension Yojana is a pension insurance scheme, under which old people after the age of 60 years will get a pension of 1000 rupees to 5000 rupees. The person can choose the pension as per his wish. If he wants to get a pension of thousand rupees per month, then he has to pay the premium according to that amount. The person himself can choose to pay the premium. Premium can be paid monthly, quarterly, half yearly and annually. People of 18 years up to 40 years of age can apply for Atal Pension Yojana and take advantage. If that person dies after 60 years, then this pension amount will be given to the nominee of that person. If that person does not go to the pension amount, then he can also take the corpus amount in one go.
Atal Pension Yojana Eligibility List / Qualification
- The benefit of Atal Pension Yojana will be given only to the domicile of India. Anyone who is a citizen of India can take advantage of this scheme.
- Certain age rules have been fixed for Atal Pension Yojana. According to the condition, only those people can apply in the scheme, whose age is between 18 to 40 years. Persons below 18 or above 40 years of age cannot apply for this scheme and get benefits.
- Under Atal Pension Yojana, after 60 years of age, the amount of pension will be directly transferred by the government to the bank account of the person, along with this the premium will also be deducted directly from the bank account every year. Therefore, to take advantage of the scheme, it is necessary that the beneficiary has a bank account in his own name.
Conditions related to the application of Atal Pension Yojana
- Atal Pension Yojana was launched on 1st June 2015. At the time of announcement itself, it was told according to the condition that any person who applied under this scheme between 1st June 2015 to 31st March 2016 would be given special benefits. The amount that that person will deposit in this benefit, the same amount will also be deposited by the government. But this special benefit will not be given to the following people
- who pay taxes
- Others are taking benefits of any social security scheme
- Government servant who is included in provident fund
- coal miners who are included in the provident fund
- Assam tea garden worker who is included in the provident fund
- Sailors who are included in Provident Fund
- Employees of Jammu and Kashmir who are included in the Provident Fund.
- While filling the form of the scheme, the beneficiary has to keep in mind that it is mandatory for him to fill his nominee. Beneficiaries cannot write their spouse’s name in the nominee as they are considered as the default nominee. Apart from the husband and wife, you should write the name of someone else in the nominee.
- An individual can have only one Atal Pension Account.
- Once applied in Atal Pension Yojana, the beneficiary can change the pension amount or premium mode anytime.
- Statement will be given to the beneficiary every year by message.
Husband and wife can get ₹ 10000 per month
Under the Atal Pension Yojana launched by the Central Government, a pension of ₹ 5000 is provided to all the people working in the unorganized sector of the country in the form of financial assistance. Recently, it has been told by the Central Government that if both the husband and wife of a family apply under Atal Pension Yojana, then they will be provided an amount of ₹ 10000 per month. The Pension Fund Regulatory and Development Authority has said that both husband and wife can apply for a pension amount of ₹ 5000 under this scheme. Combining the amount of both given by the central government, all of them will get a benefit of about ₹ 10000, so that they do not face any kind of difficulty in their living.
Terms and Conditions of Atal Pension Yojana
what will be the amount of pension
The beneficiary can choose the pension amount as per his wish. The government has fixed the pension amount from ₹ 1000 to ₹ 5000. According to the pension amount the beneficiary chooses, he will have to pay his premium. If a subscriber wants to change the pension amount, then he can do so as per the rules but he can make this change only once in a year, for which he will not have to pay any additional charges.
Other benefits available under Atal Pension Yojana
Whatever amount the beneficiary deposits, the government invests that amount in many places. If there is profit in that investment, then some part of it is also given to the beneficiary, but if there is a loss in the investment, then the entire expenditure is borne by the government itself.
According to the terms and conditions of Atal Pension Yojana, whatever amount the beneficiary deposits under the premium amount. If the government avails tax benefits by investing it, then the government also gives tax exemption to the customer according to the current rate.
How to fill Atal Pension Yojana Form
If you want to apply under Atal Pension Yojana, then you can get the form of this scheme from the bank and fill it and submit it. Apart from this, the online application process of the scheme has also been started. If you want to apply online under this scheme, then you can get the form by clicking on this link.
How to open Atal Pension Yojana account
- To get benefits under Atal Pension Yojana, it is necessary that the beneficiary has a bank account or an account in the post office, you can open an account under Atal Pension Yojana in either of the two places.
- At the bank or post office, you will get the form of Atal Pension Yojana, in which fill all the asked information carefully.
- It is not mandatory to give the information of Aadhar card in Atal Pension Yojana, but if you give this information, then you can check all the information related to your account online.
- After filling the form, the beneficiary will be given Pran number which is also known as reference number by the officials. Through this number, all the work related to the scheme like filling the claim form, filling the premium, closing the account etc. can be done easily.
Atal Pension Yojana Important Documents
- If you do not already have a bank account, then to take advantage of Atal Pension Yojana, you will have to open an account in the bank. When a new account is opened in any bank, then you will find all the documents required at that time.
- Identity Card
- Passport size photograph
- Birth certificate
- Domicile certificate
- Aadhar card (not mandatory)
Atal Pension Yojana Premium Rules
- To take advantage of Atal Pension Yojana, the subscriber has to pay the premium amount for at least 20 years, the person with lesser premium will not be considered valid.
- If a person applies under Atal Pension Yojana at the age of 40, then he will have to pay the premium amount for the next 20 years i.e. till the age of 60 years.
- If a person applies for Atal Pension Yojana at the age of 18 years, then he will have to pay the premium amount till 42 years.
- The premium amount will be different for the beneficiaries in the age group of 18 to 40 years, the information of which is given below.
What is the premium mode in Atal Pension Yojana
You can pay the premium amount in many ways under Atal Pension Yojana. You can pay the premium amount monthly, quarterly, half yearly or annually. The beneficiary will have to deposit the premium amount in his bank account itself, from which the direct premium amount will be deducted. You can choose the premium mode as per your wish and can change it anytime.
New update under Atal Pension Yojana
“Atal Pension Yojana” was launched on 1 June 2015 in the name of Prime Minister Atal Bihari Vajpayee through Prime Minister Shri Narendra Modi. Prime Minister Narendra Modi has started this scheme for the elderly, which is provided to people above 60 years of age, and age from 1000 to 5000 rupees per month as a pension. According to the central government, to take advantage of this scheme, citizens have to register and under this scheme people have to renew every year. It has been said by the Central Government that this year the last date for renewal of Atal Pension Yojana is 31st May, all the citizens of the country who want to take advantage of this scheme will have to renew themselves before 31st May, after that they Everyone will get benefit of this.
Fee in case of default under Atal Yojana
|For contribution up to ₹100 / Month||₹1|
|For Contribution of ₹ 101 to ₹ 500 /Month||₹2|
|For Contribution of ₹ 501 to ₹ 1000 / Month||₹5|
|For Contribution above ₹1001 / Month||₹10|
Atal Pension Yojana Pension Amount Chat
|Age of entry||Years of contribution||First Monthly pension of Rs.1000/-||Second Monthly pension of Rs.2000/-||Third Monthly pension of Rs.3000/-||Fourth Monthly pension of Rs.4000/-||Fifth Monthly pension of Rs.5000/-|
When can Atal Pension Account be closed?
If a subscriber does not deposit the prescribed premium amount for six consecutive months under the plan, then his account is frozen.
or If a subscriber does not deposit the premium amount continuously for six months, his account is deactivated as per the terms of the plan.
If the premium amount is not deposited for 24 consecutive months i.e. 2 years, then the account of that person is closed.
Atal Pension Yojana Withdrawal Rules
Under Atal Pension Yojana, pension amount is available only after the age of 60 years, but in some exceptional circumstances, the amount deposited till then can be withdrawn which is as follows
- After crossing 60 years of age – According to the scheme shirt, the person will start getting pension after attaining the age of 60 years but if that person dies then his pension goes to the default nominee spouse if the default nominee also dies, the nominee made by that person can apply and get the deposited amount.
- On death of subscriber after 60 years – If the subscriber dies after 60 years of age then the default nominee gets pension. The defaulting nominee can close the account by receiving the deposit amount till then. If the defaulter nominee also dies, then the other nominee will not get the pension. He can claim the nominee and get the deposit amount.
- On death before 60 years – If a subscriber dies before 60 years of age, then whether to continue the pension further or not is decided by the default nominee. If the defaulting nominee wishes, he can get pension after 60 years by paying the remaining premium amount and if he does not want to pay the premium amount, then he can also get the account closed by claiming the amount deposited till then.
Atal Pension Account Closure Rules
If a subscriber wants to close the Atal Pension Account before the age of 60 years, then he can only in one circumstance, when the subscriber is suffering from any serious life-threatening illness, he can claim the deposit amount and get the account closed.