Atal pension Yojana: Recently, the Government of India has announced a Unified Pension Scheme (UPS) for its central employees. And more than 20 lakh retired central employees will get the benefit of this scheme. If the state governments implement this unified pension scheme for their employees, then the number of employees availing its benefits will be more than 1 crore, but this year in 2024, the central government released the data of the government’s Atal Pension Yojana (APY) in March, which was availed by about 5.6 crore beneficiaries. Let us know through this article what is Atal Pension Yojana and how to get benefits from it.

Atal Pension Yojana – Short Information

Department Name	Ministry of Finance and PFRDA
Launched by	Government of India
Launch Year	2015
Payment Method	Direct Benefit Transfer
Category	Yojana
Official Website	https://pmapy.gov.in/

Atal Pension Yojana age limit for investment

The Prime Minister of India, Narendra Modi, started the Atal Pension Scheme (APY) in the year 2015. This Atal Pension Scheme was started for the unorganized sector i.e. private employees who may or may not work with the central government and some people are also taking advantage of it. The most interesting thing about this scheme is that under this scheme you have to deposit a very small amount.

After your retirement, you get pension every month under this scheme. And the government has a very big role in this scheme because the government gives you the guarantee of this scheme and you can avail the benefits of this Atal Pension Scheme only if your age is between 18 to 40 years. But the special thing about this scheme is that if you pay income tax then you will not be able to take advantage of this scheme.

Atal Pension Payment after retirement

If you also want to take advantage of Atal Pension Yojana, then you can either deposit money every month or every 3 months and you will have to deposit this money till you reach the age of 60 years, but after the age of 60, you will keep getting pension ranging from Rs 1,000 to Rs 5,000 every month from the same money and this amount of this scheme will depend on your contribution.

If you are also 18 years old, then you can deposit just Rs 42 every month in this scheme and also take advantage of this scheme. And after the age of 60, you will get this money in the form of pension by giving you Rs 1000 every month.

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After the death of the beneficiaries

If any person deposits Rs 210 every month in this scheme from the age of 18 and when that person turns 60, then that person will get a pension of Rs 5,000 every month. And after the death of the subscriber of this Atal Pension Yojana, all his money will be given to the nominee who was made at the time of registration of this scheme and the wife or husband of that subscriber will continue to get the same pension regularly every month which the first subscriber of Atal Pension Yojana was getting.

How to open the account of atal Pension yojana?

You can invest in Atal Pension Yojana either online or offline. And this scheme is also available in government banks, big private banks and post offices. Every common person can open his Atal Pension Yojana APY account online through the eNPS portal. There are ‘APY and NPS Lite’ mobile apps through which investors can check their balance and transactions.

Atal Pension Yojana FAQs