Atal Pension Yojana: A Pension Scheme for Financial Security



The Atal Pension Yojana (APY) is a government-backed pension scheme launched in 2015 to provide financial security to workers in the unorganized sector. Aimed at ensuring a regular income post-retirement, the scheme is available to individuals aged 18 to 40 years.

Under this scheme, participants make regular contributions until they reach the age of 60. Depending on the contribution amount and tenure, the subscriber can receive a guaranteed monthly pension ranging from ₹1,000 to ₹5,000. The government also co-contributes a certain amount for eligible participants who are not income taxpayers and do not have any other social security benefits.

One of the major benefits of Atal Pension Yojana is that it offers guaranteed pensions upon retirement. The contributions are automatically debited from the subscriber’s bank account, ensuring hassle-free savings. Upon the death of the subscriber, the spouse is eligible to receive the pension, and after the spouse's death, the accumulated corpus is passed on to the nominee.

The Atal Pension Yojana is a significant initiative that helps lower-income individuals plan for their retirement. It encourages systematic savings and provides peace of mind, ensuring a steady income during old age.


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