Atal Pension Yojana: The Government of India launched Atal Pension Yojana on 1 June 2015. The main objective of this scheme is to provide financial security to those who work in the unorganized sector and do not have a permanent pension plan. Under this scheme, beneficiaries will get a pension of Rs 1,000 to Rs 5,000 every month after the age of 60 years.
To avail this scheme, applicants have to follow certain conditions. In this article we will discuss all aspects of Atal Pension Yojana including eligibility, benefits, application process and required documents.
What is the scheme
Atal Pension Yojana is a government scheme aimed at providing pension to economically weaker sections of people. To join the scheme, applicants have to contribute for at least 20 years. This scheme is specially designed for those who work as daily wages or are engaged in small business.
Benefits of the scheme
- Investment period: Citizens investing in this scheme have to contribute till the age of 60 years.
- Pension amount: Beneficiaries will get a pension of ₹1,000 to ₹5,000 every month depending on their age and contribution.
- Government contribution: The government will contribute 50% of its contribution to eligible members or a maximum of ₹1,000 per year.
- Easy application process: Applicants can apply online or offline.
Eligibility criteria
- The age of the applicant should be between 18 to 40 years.
- The applicant must have a bank account.
- Aadhaar card should be linked to the bank account.
- Only those who do not have a government job can avail the benefits of this scheme.
Required documents
- Aadhaar card
- PAN card
- Labor card
- Bank account passbook
- Mobile number
- Passport size photo
How to apply
Online
- Visit the official website of the government.
Click on the link of Atal Pension Yojana. - Fill the application form and upload the required documents.
- Submit the form and get the receipt.
Offline
- Go to the nearest bank or post office.
- Get the application form there.
- Fill all the required information and attach the documents.
- Submit the form and get the receipt.