Pradhan Mantri Atal Pension Yojana (APY)
Pradhan Mantri Atal Pension Yojana (APY) : Atal Pension Yojana was launched in continuation to the Jan Dhan Yojana Scheme to bring those employed in rural and unorganized sector under the name of Pension Schemes. The scheme is to provide a definite pension to all Indians after the age of 60 yrs.
This scheme is supported by Ministry of Finance, Goverment of India. One need to contribute to get pension starting at the age of 60 yrs. Pension depends on the contribution, more you contribute more pension you get.
Eligibility for Pradhan Mantri Atal Pension Yojana (APY)
Any person in age from 18 to 40 years is eligible under this scheme.
How to get Pradhan Mantri Atal Pension Yojana (APY)?
One need to have an Aadhar Card and a bank account for to get this scheme. Form will be submited from ist June 2015. The account will be renewed every year.
Premium payable under Pradhan Mantri Atal Pension Yojana (APY)
If the pension account holder dies, the contribution would be paid to the nominee of the account. Premium will be paid thought bank account automatically.
Atal Pension Yojana is made for the workers. The scheme is best suited for unorganized sector to ensure them basic need for life after retirement. Risk cover is also available under this scheme. Governement employees can also opt for this scheme.