Atal Pension Scheme


If you are working in the private sector or in the unorganized sector and are thinking about pension after retirement, Atal Pension Yojana is the best option for you. Here’s the full details on this.

What is the Atal Pension Scheme?
The Atal Scheme is a good option to guarantee a pension at low investment. Currently, under the Atal Pension Scheme, the government guarantees a pension of Rs 1000 to Rs 5,000 per month after 60 years. That is, you get an annual pension of Rs 60,000.

Highlights of the Atal Pentacle Scheme
1.You can choose from 3 types of plans for monthly, quarterly or semi-annual investments for installment or payment.

  1. Under Section 80CCD of Income Tax, tax exemption is also available.
  2. Only 1 account is opened in the name of the member.
  3. If a member dies before or after the age of 60, then the pension amount is paid to the wife or the nominee.
  4. In the event of death of both the member and the wife, the government will grant a pension to the nominee.
  5. Eligible for the Atal Pension Scheme?
    To benefit from the Atal Pension Scheme, you must have the following qualifications.
    Must be a citizen of India.
    Must be between 18-40 years
    Must be contributing for at least 20 years.
    You must have a bank account linked with your Aadhaar
    Must have a valid mobile number
    Those who reap the benefits of the Swavalamban scheme will automatically migrate to the Atal Pension Scheme.

How to apply for Atal Pension Scheme?
You can benefit from APY by following these steps
All nationalized banks offer the scheme. You can visit any of these bank branches to open your APY account.
Application forms of the Atal Pension Scheme are available online and at the bank. You can download the form from the official website.
Forms are available in English, Hindi, Bangla, Gujarati, Kannada, Marathi, Odia, Tamil and Telugu.
Fill out the application form and submit it to your bank.
Provide a valid mobile number if you haven’t already provided it to the bank.
Submit a photocopy of your Aadhaar card.
You will receive a confirmation message upon approval of the application.

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