Atal Pension Yojana: Senior Citizen will get Rs 5000 per month

Atal Pension Yojana: In order to provide financial assistance to Indian citizens in old age, the Government of India has implemented the Atal Pension Yojana. Through this scheme, a universal social security system is envisaged for the citizens. What is the benefit of this project? Here is complete information on how to apply.

Citizens, especially those working in unorganized sectors, can join the Atal Pension Yojana 2023 scheme. In nationalized banks, it is possible to apply through offline and online channels as well. Atal Pension Scheme (APY) was launched in 2015 to provide a universal social security system for citizens.

Atal Pension Scheme (APY) 2023: How to Apply?

Online application for Atal Pension Scheme is also available. Atal Pension Scheme application can be submitted through the official website of the department. Also, application can be made by filling the prescribed application form in nationalized banks. Filled application along with prescribed documents can be submitted to banks.

To apply for Atal Pension Scheme, you will receive an application approval notification message after submitting the photocopy of Aadhaar card. Later you can easily submit the application.

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Benefits of Atal Pension Scheme 2023 :

National Pension System (NPS) is in force. Also the Pension Fund Regulatory and Development Authority (PFRDA) administers the TAL pension scheme under an administrative and institutional architecture.

Atal Pension Yojana Benefits:

Get Rs 1000 to Rs 5000 per month after the subscriber reaches the age of 60 years. A minimum guaranteed pension of up to But the benefits of age based pension will vary on the basis of age.

If the person dies after joining the Atal Pension Scheme, the pension will be given to the survivor. After the death of the subscriber and spouse, the accumulated pension wealth of the subscriber up to the age of 60 is fully reverted to the nominee.

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Atal Pension Scheme : Age and Criteria

To join the Atal Pension Yojana, one must be an Indian citizen. Anyone between the ages of 18 to 40 years can join this scheme. After joining this scheme, the pension must be paid for at least 20 years. Pension returns are issued after the subscriber attains 60 years of age.

But income tax payers are not allowed to join this scheme. If the subscriber who joined on or after 1st October 2022, is an Income Tax payer on or before the date of application, the APY account will be closed. And the pension wealth accumulated so far will be given to the subscribers.