NAME : Atal Pension Yojana
TYPE OF YOJANA : This is a Pension scheme made available by Modi Government for persons from un organized sectors who are not covered by any pension or super annuation scheme. It is open for participation for all Indian citizens having a bank account.
MINISTRY : Department of Financial Services. Ministry of Finance
WEBSITE : http://www.jansuraksha.gov.in/.
PURPOSE : Main purpose of this yojana is creating a universal social security system, targeted especially for the poor and the under-privileged who other wise does not have any pension or super annuation scheme.
STRUCTURE : Any person can join this yojana between the age group of 18 years to 40 years. Subsriber has to pay monthly premium worked out on the basis of charts available with the banks and will start receiving monthly pension when he/she completes 60 years of age.
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Under this yojana the subscribers would receive the fixed minimum monthly pension of Rs. 1000 per month to Rs. 5000 per month depending upon his/her choice made at the time of joining this yojana.
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Under APY, the monthly pension would be available to the Subscriber up to his/her death and after him/her to his/her spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.
LAUNCHING DETAILS : Hon’ble Prime Minister launched this scheme nationally in Kolkata on 9th May, 2015.
HOW TO APPLY : Any Indian who is between age group of 18 to 40 years can apply for this pension yojana. The person should have a Bank account in any Nationalized or other participating Bank and shall apply for this yojana at the Bank branch.
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This pension yojana is available in all the branches of banks in OTC ( Over the counter ) method. The application is very simple and does not require any additional documents other than Adhar. The bank will debit the monthly premium of the yojana from the Bank account.
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The subscriber has to pay the monthly premium which is calculated as per the tables provided under this yojana and available with the banks. The amount of premium is decided on the basis of age of joining and the pension amount requested by the subscriber. The subscriber has to pay the premium up to the age of 60 years.
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When the subscriber completes 60 years of age he starts receiving the monthly pension as per his/ her chosen plan.
BENEFICIARIES : Total 1 crore 24 Lac persons have subscribed to this yojana.