Updated By: LatestGKGS Desk
Pradhan Mantri, Atal Pension Yojana (APY)’s features, Benefits, Eligibility
Pradhan Mantri Atal Pension Yojana (APY)’s features and Benefits, controlled by the Pension Fund Regulatory and Development Authority (PFRDA), Replace the past government swavalamban yojana NPS life
Prime Minister Sri Narendra Modi, Financial Minister Arun Jaitley and Cabinet working hard towards promulgation of new schemes which give financial security to the common people, constantly since the BJP came to power at the centre.
Atal Pension Yojana (APY) is formal pension scheme, the objective of this schemes is to make the life old people easier and convenient by supporting them financially.
The scheme is mainly for workers in the unorganized sector, which encourage the habit of saving for retirement.
The Atal Pension Yojana was announced by Government of India from 2015-16 and scheme will be controlled by the Pension Fund Regulatory and Development Authority (PFRDA) and replace the past government swavalamban yojana NPS life.
Pradhan Mantri Atal Pension Yojana’s features and Benefits….
* The monthly pension account starts from Rs. 1000 to Rs. 5000 can be given by subscribers, every month after their retirement at the age of 60.
* Spouse will continue to draw pension in the event of death of subscribe
* Contribution need to be concerned monthly by Auto Debit from linked saving bank account
* GOI will co-contribute* 50% of subscriber contribution or Rs. 1000 p.a moreover lesser for a period of 5 years.
* This scheme will bring security to aging Indians moreover at the same time promote a culture of savings and investment among the lower middle-class sections.
* This contribution will be enjoyed only by those who are not income taxpayers and those who are not income taxpayers and those who join the scheme before 31 December.
