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Complete information of Atal Pension Yojana 2021

The Atal Pension Yojana (APY) was launched to provide life-long pension to laborers and laborers working in the unorganized sector. If you join this scheme, the central government will give you and your spouse minimum lifetime pension Guarantees



If you invest in the firm’s pension plan, then you to death over the age of 60 years to 1,000 from Rs per month 5,000 will pension per month

Pension will be Rs 1,000, 2,000, 3,000, 4,000 or 5,000 rupees per month.

Now how much pension will be given, it will depend on your contribution before your 60 years of planning. We will discuss this in detail later.

Also Read: Post office scheme: Open an account for just Rs 100 and get Rs 7000, know how

You will get so much pension But you get better returns on your contribution, then you can get more pension too.

After the death of the investor, the spouse will continue to get this pension. After the death of the wife (or husband), whatever amount was in your pension fund at the age of 60 will be given to your nominee.

The benefits of Atal Pension Yojana can be summarized as follows:

Investor (subscriber) gets pension. (From the age of 60 till death)

After the death of the investor, the spouse continues to have a pension.
After the death of the spouse, the amount deposited (which was deposited till the age of 60 years) is given to your nominee (nominee).



If the investor’s wife (or husband) dies before the investor, then the deposit amount (whichever was deposited by the age of 60 years) will be given to the nominee after the death of the investor.

Who is eligible for Atal Pension Yojana?

  • You must be an Indian citizen.
  • Minimum Entry Age : 18 years
  • Maximum entry age : 40 years
  • You must have a savings account with your bank.
  • You can open only 1 Atal Pension Yojana account.

It does not matter whether your provident fund account (EPF, PPF, GPF etc.) or NPS account is already there. You can open an Atal Pension Yojana account. If you are a government employee, you can still open an Atal Pension Yojana account.

Also Read: TAX: Many types of PF, who will be taxed – EPF, VPF or PPF?

How to open APY Account?

You can go to your nearest bank branch and apply for the scheme.

You can see the Atal Pension Yojana form here and also download it. You can open this account by going to all government banks (such as SBI, PNB etc.).

You can open APY account online. If you want to open Atal Pension Yojana online, you can open Atal Pension Account online through ENPS portal .

How to invest in Atal Pension Yojana Account?



If there is not enough money in your bank account, then you will be deducted from your account with the next month’s installment. You will also have to pay a small fine. The penalty will be 1 rupees per 100 rupees installment.

  • What is Government Co-Contribution (Co-Contribution)?

The government will also contribute to your account under the Atal Pension Yojana. But it has some conditions.

The government will also contribute 50% of your total annual contribution per year. But the maximum payment limit of the government will be Rs 1,000 per year. And yes the government will only make this contribution for 5 years. From FY 2016 to FY 2020.

As I have written above, there are some conditions of government contribution.

  1. You should join this scheme before 31 March 2016. (This means the government will no longer contribute to newly opened accounts)
  2. You should not be an income tax payer.
  3. You should not be covered under any social security scheme, such as the following:
  • The Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF)
  • The Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948
  • Assam Tea Garden Provident Fund and Miscellaneous Provisions, 1955
  • Siemens Provident Fund Act, 1966
  • Jammu and Kashmir Employees Provident Fund and Miscellaneous Provisions Act, 1961
  • Any other statutory social security schemes

How much pension will you get under APY?

This chart can also be called the Atal Pension Scheme Calculator .

Let’s understand with the help of an example. An investor (subscriber) entering at the age of 35 will have to invest Rs 902 per month (up to the age of 60) to get a pension of Rs 5,000 per month after the age of 60.

If such a person wants a pension of only Rs 3000 per month after 60, then he needs to invest Rs 543 per month.

Can I increase or decrease the pension amount under the Atal Pension Yojana after registration?

It is possible that you start with a pension amount. But in future you want to increase or decrease your pension amount. Atal Pension Yojana has this provision.

You can do this once a year in the month of April. But yes, you can change the pension only before the age of 60 years.

To increase the pension amount, the investor (subscriber) will have to pay the difference in contribution amount. Along with this, 8% monthly compounding interest will also have to be deposited on the payment.

In case of deduction of pension amount, the additional amount of contribution will be returned to the customer. Along with this, the deposit return on the additional amount will also be returned.

If the investor (subscriber) in the Atal Pension Yojana dies after the age of 60 years?

After that when the spouse dies, the deposit amount (your pension was in the corpus at the age of 60) will be given to your nominee.

If the spouse has passed away before the investor (and then the investor dies), the pension corpus (your pension corpus at the age of 60) will be passed on to the nominee.

How to close Atal Pension Yojana account? (Voluntary Exit From APY)

Atal Pension Yojana account can be closed for the treatment of death or any serious illness before the age of 60 years.



These diseases are: cancer, kidney failure (end state renal failure, primary pulmonary arterial hypertension, multiple sclerosis, major organ transplant, coronary artery bypass graft, aorta graft surgery, heart valve surgery, stroke, myocardial infarction, coma, total blindness and paralysis. .

Can I open both NPS and Atal Pension Yojana accounts?
As I understand, both your NPS and Atal Pension Yojana accounts No Can open

This seems a bit strange, but I confirmed this by putting an email to NSDL. As of now there is no provision to merge NPS and Atal Pension Yojana accounts.

Atal Pension Yojana: Atal Pension Yojana: Tax Benefits

Under Section 80 CCD (1), you can avail tax benefit for investing in APY for up to 20% of your annual income (maximum 1.5 lakh per financial year). It falls under the limit of 1.5 lakhs under Section 80C.

Under Section 80 CCD (1B), you can avail an additional tax benefit of up to Rs 50,000 for investing in the Atal Pension Yojana.

Atal Pension Yojana: Atal Pension Yojana: Tax Treatment Maturity

The lump sum received by the nominee after the death of the investor / spouse will also be tax-free.

How to download Atal Pension Yojana Card (PRAN Card)? How to view Atal Pension Yojana statement?

If you do not have Atal Pension Yojana Card (PRAN Card) or you have lost, you can download your PRAN card online. You this link to visit |

You can also check your Atal Pension Yojana account statement / balance online at this link. You have to follow the instructions given.

If you know your PRAN, you can log in with the help of PRAN and bank account number.

If you do not know the PRAN, you can search with the help of your name, bank account number and date of birth.

 

 

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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