Categories: GOVT. SCHEMES

Atal Pension Yojana Benefits || Scheme Calculator

Atal Pension Yojana (APY) :

Atal Pension Yojana (APY) is a pension scheme initiated by government of India. This pension scheme is previously know as Swavalamban Yojana (SY). Atal Pension Scheme is generally to provide social security to all citizens of India after the age of 60 years. It is primarily target the unorganized sectors. APY was introduced in 2015 by Narendra Modi government on national level. Modification of Swavalamban Yojana is the Atal Pension scheme . Atal Pension Yojana Benefits and Atal Pension Yojana calculator details are given below.

 

Pension Fund Regulatory and Development Authority (PFRDA) regulates the Atal Pension Yoajana (APY). This scheme will be implemented through all the public and private sector banks along with post offices.

Eligibility Criteria of APY :

All the Indian citizens in between the age of 18 to 40 years are eligible for Atal Pension . To open pension scheme account the candidate must have a saving account with the bank or with post office of India. The person having any statutory social security scheme or income tax payee are not eligible.

Atal Pension Yojana Benefits :

Atal Pension Yojana Benefits are given below;

  • The Atal Pension Scheme is a social security scheme, which provides a pension after attaining the age of 60 years.
  • Pension Yojana APY is based on government National Pension Scheme (NPS )
  • After opening the Atal Pension account a Permanent Retirement Account Number (PRAN ) will be provided by the bank branch.
  • It provides to choose a fixed monthly pension of amount Rs. 1000, Rs. 2000, Rs. 3000, Rs. 4000, and Rs. 5000 by paying some monthly amount.
  • Candidate has to pay a lesser monthly amount at an early age i.e after 18 years of age for atal pension.
  • The monthly amount go on increasing with increase of age.
  • Candidates who previously choose Swavalamban yojana may move to new Atal pension scheme by filling a APY registration form.
  • The nominee of Pension scheme will get some financial assistance due to death of candidate.
  • If subscriber or candidate dies after the age of 60 years then monthly pension will be provided to spouse till she is alive.
  • The spouse can continue to contribute in APY , if subscriber dies before 60 years age.
  • Premature exit from Atal Pension scheme is not allowed, in some cases it may be allowed.
  • The candidate can choose a variety of payment installments i.e monthly, quarterly, or half yearly plan.
  • Automatic debit facility for your installments is also available in Atal scheme.
  • Only Rs. 1 will be charged as an overdue monthly  interest per Rs. 100 for Atal pension .

You may read : PM Mudra Loan Yojana details and PM Mudra Loan Calculator

You may read : Sukanya Samriddhi Yojana calculator and scheme details

Atal Pension Yojana Calculator 🙁 APY Calculator)

To use Atal pension Yojana Calculator, the subscriber age will be in between 18 to 40 years age. The minimum investment time for APY  is 20 years. As per the above details the pension amount will be in between Rs.1000 to Rs. 5000.

The lowest monthly payment at the age of 18 years for the pension amount Rs. 1000 is only Rs.42. And for the pension amount Rs. 5000 the monthly premium amount is only Rs. 210.

This monthly premium amount increases with increasing of age.

At the age of 40 years, the monthly premium amount for pension of Rs. 1000 is increased to Rs. 291. While for pension of Rs. 5000 the premium amount will be Rs. 1454.

You can use Atal Pension Calculator online, click here

Suggestion :

To avail better Atal Pension Yojana benefits, try to open APY account at an early age i.e just after the 18 years. Choose the pension amount according to your budget that helps you avoid overdue fine. You may opt auto debit option for smooth running of this scheme.

If any query regarding Atal Pension Scheme, don’t hesitate to comment.

Share

Recent Posts

How to increase Oxygen level naturally at home

Increase your Blood Oxygen Level naturally at home : India is facing second Covid-19 wave… Read More

4 weeks ago

Asim Riaz (Bigg Boss 13) Wiki, Age, Girlfriend (GF) and Family

Asim Riaz ( Bigg Boss 13 ) Age, Girlfriend and Family details : Indian Model… Read More

4 months ago

Rocking Star Yash (KGF) Wife, Age, Bodyguard and Biography

Rocking Star Yash ( KGF Chapter 1 and KGF chapter 2 fame actor ) :… Read More

4 months ago

Air Hostess Course Vs Interior Design – Which one is best for girls ?

Air Hostess Courses Vs Interior Design course for girls : Air Hostess courses are very… Read More

5 months ago

Virat Kohli – Anushka Sharma Baby Girl Name with Latest Photos

Virat Kohli - Anushka Sharma Baby name : The most successful modern era cricketer Virat… Read More

5 months ago

Anushka Sharma- Virat Kohli to be blessed with a baby : Latest news

Anushka Sharma- Virat Kohli to be blessed with a baby : Virat Kohli - Anushka… Read More

5 months ago