ATAL PENSION YOJNA

ATAL PENSION YOJNA. Pension scheme by GOVT of India.

Introduction. Atal Pension Yojana, formerly known as Swavalamban Yojana is a government-backed pension scheme in India, primarily targeted at the unorganised sector. It was mentioned in the year 2015 Budget speech by the Finance Minister Arun Jaitley. It was launched by Prime Minister Narendra Modi on 9 May 2015 in Kolkata.

The benefits of Atal Pension Yojana is that employees of the private sector can also subscribe to this scheme. Subscribers can select the amount of contribution as this affects the amount of returns as well. As an individual, you will be entitled a guaranteed pension amount of ₹1000|₹2000|₹3000|₹4000|₹5000 on attaining the age of 60 years. In case of death of the subscriber, the pension amount will be given to the spouse or nominee. Additionally, you are eligible for a tax benefit under Section 80CCD of the Income Tax Act, 1961. The entire collected amount is managed and distributed by the Pension Funds Regulatory Authority of India (PFRDA). Subscribers can make contributions to APY on monthly/ quarterly / half-yearly basis.  Subscribers can voluntarily exit from APY subject to certain conditions, on deduction of Government co-contribution and return/interest thereon..

Eligibility Criteria for Atal Pension Yojana. A savings bank account linked with a registered mobile and Aadhaar card number. Age between 18-40 years. Minimum contribution for at least 20 years..

Premium chart. Atal Pension Yoj ana Atal P net Minirnurn Investrnent, Maxirnum Benefits during Age Of Years Of indicative joining Contribution Monthly old-age Monthly Pension to the subscribers and his spouse 5,000 5,000 5,000 5.000 5,000 5.000 Indicative Return Corpus to the norminee of the subscribers 25 35 35 20 Contribution (in Rs.) 210 248 376 577 1 , 454 8-5 Lakh 8-5 Lakh 8-5 Lakh 8-5 Lakh 8-5 Lakh 8-5 Lakh Rs.5000 Fixed monthly pension from Rs.1000 to depending on the contributions.

Return to the Rs- 1.7 Lakh Minuuu:m Guaranteed 3-4 Lakh Guaranteed 20 21 22 23 24 25 26 27 31 32 33 34 35 36 37 39 42 40 39 38 37 36 35 32 30 29 27 26 25 24 23 22 21 20 126 218 125 137 149 • 76 226 268 289 376 aso 492 650 se.7 24S 271 295 319 413 531 572 744 814 974 i 068 i 169 1287 1416 1 sss 1717 92 117 127 i 39 151 212 252 276 330 436 528 582 250 298 489 530 srs 632 oss 1079 1299 173... 749 820 1363 1629 2136 2337 2573 31 3435 126 162 192 347 379 453 720 Rs- Lakh 376 411 447 527 572 674 733 870 1034 1 129 1234 1350 1475 770 2146 74-4 sss 956 1045 i 228 1334 1452 1582 1723 1877 24.43 2673 2921 3205 4674 168 198 21S 327 551 957 501 697 897 975 1061 i 156 1261 1502 1642 2152 2593 2852 3141 1 169 1269 1381 776 2101 2496 2974 *2S2 3553 4261 4674 5134 210 228 269 292 31 s 376 529 689 752 824 1087 13 •s SS Lakh 679 739 870 94 S 1031 1 121 1219 1329 1577 1720 2053 2241 2456 2688 2950 3239 3928 1464 723 1877 2219 2414 2632 2*62 3122 3718 4438 5323 s.s.S3 6415 •oss 7778.