Atal Pension Yojana | Eligibility - Government Contribution - Exit and Withdrawal - Tax Benefits - Key Features of Atal Pension Yojana
Atal Pension Yojana Atal Pension Yojana (APY) is a social security scheme launched by the Government of India on 9th May 2015. It is primarily aimed at providing a pension for workers in the unorganized sector, encouraging them to save for their retirement. APY is administered by the Pension Fund Regulatory and Development Authority (PFRDA). Key Features of Atal Pension Yojana: 1. Eligibility: APY is open to all Indian citizens between the ages of 18 and 40 years. Individuals within this age group can join the scheme. 2. Pension Amount: The scheme provides a fixed pension amount to the subscriber after they reach the age of 60. The pension ranges from Rs. 1,000 to Rs. 5,000 per month, depending on the contributions made and the age at which the subscriber joins the scheme. 3. Contributions: Subscribers are required to contribute to the scheme on a monthly basis. The contribution amount depends on the chosen pension amount, the age of the subscriber when they join the scheme, and t...