Retirement is now easier, with no financial stress. You can receive ₹5000 every month through a pension scheme, ensuring a stable income after retirement. This scheme is called the Atal Pension Yojana (APY). As of October 2024, more than 7 crore people have already enrolled in this scheme, proving its popularity and success in providing financial security. Throughout this article, we will explain how you can earn a pension of ₹1000 to ₹5000 per month without hassle through this government scheme.

What is Atal Pension Yojana?

Atal Pension Yojana (APY) is a government scheme launched by Prime Minister Narendra Modi on 9th May 2015. The scheme is aimed at providing financial security, especially for those working in the unorganized sector or in low-income jobs. It is managed by the Pension Fund Regulatory and Development Authority (PFRDA) and is part of the National Pension System (NPS).

How Does Atal Pension Yojana Work?

The scheme provides a pension after the age of 60. The pension amount depends on how much you contribute during your working life. You can receive a monthly pension ranging from Rs 1000 to Rs 5000. For example, if you want a pension of Rs 1000 and start contributing at the age of 18, you will need to contribute only Rs 42 per month.

Benefits of Atal Pension Yojana

  1. Guaranteed Pension: Once you start contributing, you will receive a fixed pension every month after the age of 60.
  2. Family Protection: If the pensioner dies, the spouse will continue to receive the pension.
  3. Affordable Contribution: You can start with a small contribution, and your pension amount will increase based on your monthly payments.
  4. Secure Future: The scheme ensures that you will have financial independence in old age without depending on others.

How to Apply for Atal Pension Yojana?

You can apply for APY either offline or online.

Offline Application:

  • Visit your nearest bank (most banks offer APY registration).
  • Collect the application form from the bank or download it from the website.
  • Fill in your details, including the pension amount you want.
  • Submit the form along with your Aadhaar card and other required documents.
  • After submission, you will receive a message with your Atal Pension Yojana account number.

Online Application:

  1. Visit your bank’s portal or mobile banking app.
  2. Find the Social Security Schemes section or search for Atal Pension Yojana.
  3. Log in using your ID and password.
  4. Fill in the application form and provide your details.
  5. Agree to automatic monthly debit for contributions.
  6. Review the form carefully and submit it.