Atal Pension Yojana (APY): Jobs in the Unorganized Sector: Atal Pension Yojana’ was introduced to encourage workers in the unorganized sector to voluntarily save for retirement.
The Government of India has always been concerned about the security of old age income or retirement status of workers in the unorganized sector. That’s why many projects have come up in the budget again and again. Schemes that can provide financial security to the citizens of the country in retirement. For this purpose, the then government had announced the launch of ‘Atal Pension Yojana‘ abbreviated as APY in the budget of 2015-16 with special emphasis on insurance and pension for all Indians, especially citizens of the unorganized sector.
This pension scheme was launched in 2015 to replace the earlier ‘Swawlamban‘ scheme. The scheme guarantees a certain amount to a citizen after he reaches the age of 60 years by depositing money on the basis of monthly contribution.
Atal Pension Yojana (APY): Jobs in the Unorganized Sector
It can be said that the ‘APY’ scheme was launched to encourage workers in the unorganized sector and voluntarily save for their retirement.
Atal Pension Yojana is administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
Important information about the API:
Since this scheme was originally made to help the citizens of the unorganized sector, the amount payable under this scheme is comparatively less as compared to other market driven government schemes. In addition, there are several other important facts, which are briefly and simply highlighted:
1. Benefits of Investing in APY: Under APY, subscribers can get pension from minimum 1000 to maximum Rs 5000 per month for life above 60 years of age. Five types of optional monthly pension are offered based on the installments paid by the citizen. These are: Rs 1000, Rs 2000, Rs 3000, Rs 4000 and Rs 5000.
2. Age Limit for Joining APY: Investors must be at least 18 years of age to join APY. Maximum age of 40 years can be covered under this scheme.
Atal Pension Yojana Statement View
Account Statement & PRAN Card Anytime, Anywhere www.npscra.nsdl.co.in>> Home>>Atal Pension Yojna >>Print APY The e-Pran/Transaction Statement can be viewed and printed free of cost by visiting the Statement View. Visit the subscriber website https://enps.nsdl.com/eNPS/APYRePrintPRAN.html>> Atal Pension Yojana>>Print APY Pran Card. After making payment of Rs. Once in the future year of the account registered with Atal Pension Yojana at the registered address ie after being registered in Atal Pension Yojana by the subscriber is sent to the address provided.
All information regarding APY account/contribution can be obtained through CGMS from the concerned bank APY-SP branch. Intimation regarding contributions is sent by CRA NSDL to the registered mobile number of the subscriber through periodic SMS alerts.
Amendment in subscriber details under APY
For modification of personal information like address, phone number etc., the customer has to submit the Subscriber Amendment Form to the concerned bank along with the required documents. APY-SP Branch. This form can be downloaded online by visiting https://www.npscra.nsdl.co.in/nsdl-forms.php. could. Change in frequency of contribution like quarterly contribution to monthly contribution or half yearly contribution to quarterly contribution etc. Related to APY Subscriber. This can be done after submitting a written request to the Bank/APY-SP branch.
3. How to join APY?:
Here we have providing Atal Pension Yojana Registration Form PDF Here. It is possible to join APY by filling a specific application form at any public or private bank or post office. You can also download this application form online through this link https://npscra.nsdl.co.in/nsdl/forms/APY_Subscriber_Registration_Form.pdf https://npscra.nsdl.co.in/nsdl/forms/APY_Subscriber_Registration_Form.pdf.
But each person can open only one account.
4. APY Joining Documents: After joining, an acknowledgment slip is issued to each subscriber, mentioning the assured pension amount, date and amount of contribution or installment payment and PRAN Serial (PRAN Number).
5. Amount of Investment: The applicant can invest through a fixed monthly, quarterly, annual installment as per the age limit and pension amount by PFRDA. Non-payment of installment in any month will attract a penalty of Re 1 for every Rs 100 monthly contribution.
6. Payment of Accumulated Pension to Nominee: In the absence of an APY subscriber, his nominee or nominee will receive the accumulated amount.
Below is the list provided by PFRDA:
How much pension will you get at what age ?
7. Benefit of Income Tax Exemption: In order to encourage the customers towards this scheme, the Government of India provides tax exemption on the contribution to this scheme. As per Section 80CCD(1B) of the Income Tax Act 1961, an additional tax deduction of Rs 50,000 can be claimed by investing in Atal Pension Yojana.
8. Withdrawal from APY Scheme:
- After completion of 60 years, customers will submit their request through application form to the concerned bank for their monthly pension.
- Exit before 60 years of age is not allowed in this scheme. But it is allowed in exceptional circumstances. For example, APY can be withdrawn in case of death, critical illness of the subscriber.
- In case of death of APY subscriber before the age of 60 years: The husband/wife has a predicated release of contribution to the air account for communication, From which Sher Bhanbhat Ke Bhall (Group Translated by Google) can be issued in the name of husband or wife. if husband or wife If the APY account should not be operational, it will have to be rectified and the likely pension will be reported ie in original.
- On death of APY Subscriber after 60 years of age: Inactive pension to the spouse of the subscriber and the spouse of the subscriber After the death of the deceased, the pension money/accumulated corn was paid to the nominee declared in the pension scheme. Named Divider, Husband or Wife of the SubscriberAligned Whether there is any other divider.
APY Mobile Application
APY mobile application is available free of cost to APY users, wherein last 5 contributions can be viewed and account details and ePran can be downloaded without any charges. Android users can download the APY mobile application from Google Playstore by going to the option option and typing ‘APY & NPS Lite’.
Registering a complaint under APY
Complaint can be lodged by the Subscriber at any time and free of cost and from any location by visiting www.npscra.nsdl.co.in >>Home>> select:NPS-Lite. A token number will be allotted to the subscriber for the complaint lodged. Subscriber can check the current status of the complaint by going to “Check the of Grievance/Enquiry already registered”.
APY Social Media Links
|Available on APY, PFRDA page
YouTube Plunk of APY’s Pathshala –
|PFRDA page is available
• Twitter https://twitter.com/pfrdaofficial?lang=en
For more information:
Atal Pension Yojana Helpdesk (Tollfree): 1800 110 069