Atal Pension Yojana…!!!What is Atal Pension Yojana Scheme

Atal Pension Yojana:

Atal Pension Yojana in : “Atal Pension Yojana” is one of the many schemes designed by the Central Government. Its main purpose is to provide money in the form of pension for all, if we look at the general government employees get pension after retirement. So their life goes smoothly with the pension they get after retirement. But, if we take some private companies then they don’t get any pension after their job. The central government has brought forward this “Atal Pension Yojana” scheme with the main objective of getting pension even for such people after the age of 60 years. Any one of the 3 social schemes announced by the central government in the budget introduction in the year 2015. Those who want to join this scheme after 60 years of age will get pension every month following the scheme Atal Pension Yojana

Atal Pension Yojana Scheme Any person between the age of 18 to 40 years is eligible for this scheme.
For those who want to invest in this scheme, a savings account must be opened in the post office or in any government sector bank.
You have to link your bank account with Aadhaar card for this scheme.
If you are above 40 years, this scheme is not applicable to you.
If you are getting National Pension, you are not eligible for this scheme.
If you are paying income tax, you are not eligible to invest in Atal Pension Yojana.

How much to pay for Atal Pension Yojana?

The amount to be invested in this pension scheme varies according to the age of the person. In this scheme Rs. 1000, 2000, 3000, 4000, 5000 every month depending on the scheme taken. The payments are also according to the scheme. For example, if you want to join this scheme from the age of 18, you will have to pay money in this scheme for 42 years till the age of 60. If you join this scheme in the 18th year, Rs. 42 to a maximum of Rs. 210. If you join this scheme in 40 years then you have to pay for this scheme for 20 years. For that you have to pay Rs. 291 to Rs. 1,454 to be paid.

When will the pension amount be received?

Atal Pension Yojana in Telugu can get a fixed pension amount after the age of 60 years as per the contribution of those who have joined the scheme. They will get their pension up to Rs.1000, 2000, 3000, 4000, and 5000 thousand depending on the scheme they have chosen at the time of the scheme. 5000 if you want to get a pension, from the age of 18 to the age of 60 Rs. 210 should be paid, if you join the scheme in 40 years, you will pay Rs. 1454 has to be invested in the scheme

Auto Debit System:

Members who have joined Atal Pension Scheme have to link their bank account details to the scheme account. Once linked, you will have to give permission to the bank to debit your account on a monthly basis. For this process you need to deposit the appropriate balance in your bank account every month. Otherwise you may face additional penalty.

It can increase the contribution:

Even if you join the scheme with a lower contribution, those who want to increase their pension amount in the future will also have the flexibility to increase their contribution. Also you have the flexibility to buy the discount you want. But this facility is available only once in a year. Then you need to contact the post office.

How to apply?

All nationalized banks are offering this scheme. You can open an APY account through these banks.
To open this account, an application form has to be filled and given in the bank. These forms can be obtained from the bank or online.
The details and documents asked in the form should be attached to the bank.
As soon as the bank receives your application, you will receive a message on your mobile

How to apply online?

Atal Pension Yojana Scheme can also be started online. For this you need to visit the website “enps.nsdl.com”.
After opening the website you will see “Atal Pension Yojana” option on the right side. Click on it.
Immediately a dialog box will open to you. If you click on “APY REGISTRATION” then the application form will open.
Your account will be opened after entering the details asked from you.

If you want to quit?

If you want to withdraw from this scheme before the age of 60, you can, but there are certain rules to follow. Only the amount you contribute will be paid to you after deducting the applicable charges on the returns earned on it. A person who has taken a thousand scheme can withdraw from this scheme when he is affected by health problems. But this option is available only for certain diseases. According to the government rules, if the person wants to withdraw from the pension scheme due to the illness specified in the form, the contribution made by the eligible person, the amount due to the government along with the interest will be paid accordingly.

At the time of death:

If a Vela policyholder dies before the age of 60, the APY scheme of that person will continue. But this flexibility is available only to the lucky ones. The deceased can continue the account in their partner’s name till the age of 60 years. Then they can get pension from the time they cross the age limit till their death. If the account is to be closed, the APY account holder pays the amount invested along with interest to his partner. In case the deceased is unmarried, whoever has chosen the nominee will also get the benefits of this scheme.

Penalty method:

Sometimes due to unexpected actions, contribution may be delayed. In such cases, a fine has to be paid. If you contribute 100 rupees in a month, you will have to pay 101 for it, which means you will get 1 rupee. Additional fine will be charged. So you have to pay the penalty depending on the contribution you choose. If you do not make your contribution for 6 months then your account will be frozen. If you do not contribute for a year i.e. 12 months then your account will be deactivated. After two years i.e. 24 months then the account is closed and the amount of contribution is credited to the subscriber.

Required Documents:

• Aadhaar / PAN Card / Mobile Number / Passport Size Photo (Current)
• Complete details should be included in the APY form and what is asked in it.
• The bank pass book should be in their name. Also the bank details should be explained in brief in the form.
• Attach your monthly contribution account.
• Last words: Rs. To get 5000 thousand pension you have to join the scheme from the age of 18, even if you join like that they will pay Rs. 210 contribution is sufficient. If you join the scheme at the age of 40, you will get Rs. 1,454 has to be contributed. That is why it is better to join this scheme from a young age.