Atal pension Yojana kya hai जानिए इसके बारे में 2024 में पूरी जानकारी। क्या लाभ & हानि हैं? 
Atal Pension Yojana (APY) is a social security scheme launched by the Government of India, primarily aimed at workers in the unorganized sector. This scheme was initiated in May 2015. The main features of APY are as follows:
Objective: To provide social security in old age and pension facilities to workers in the unorganized sector.
Eligibility: This scheme is available to Indian citizens aged 18 to 40 years.
Premium Payment: The premium amount is determined based on the age of the beneficiary and the chosen pension amount.
Pension Amount: Under this scheme, the beneficiary can receive a pension ranging from ₹1000 to ₹5000 per month after the age of 60.
Government Contribution: The central government contributes to the premium for a certain period if the beneficiary is not covered under any other social security scheme.
Registration: To register under this scheme, the beneficiary needs to open an APY account by visiting any bank or post office.
Nominee Facility: The beneficiary can also nominate a nominee so that the pension amount can be received by the nominee in the event of the beneficiary's death.
Atal Pension Yojana is a significant step towards providing economic security to workers in the unorganized sector in their old age.
Understanding the Atal Pension Yojana: Securing the Future for India's Unorganized Sector
The Atal Pension Yojana (APY) is a revolutionary government-initiated pension scheme aimed at providing financial security to individuals in India's unorganized sector. Named after the former Prime Minister Atal Bihari Vajpayee, APY reflects the government's commitment to inclusive growth by ensuring that even the most economically vulnerable populations have access to a secure retirement.
Key Features of APY
1. Eligibility and Enrollment: APY is open to all Indian citizens aged 18 to 40. To benefit from the scheme, individuals need to contribute for at least 20 years, making it a long-term commitment towards a stable post-retirement life.
2. Guaranteed Pension: Depending on their contribution, subscribers can receive a monthly pension ranging from Rs. 1,000 to Rs. 5,000, starting at the age of 60. The exact pension amount is determined by the age at which the individual enrolls and the contribution made.
3. Automatic Enrollment: Individuals previously registered under the Swavalamban Scheme are automatically transitioned to APY, ensuring continuity and ease of access to pension benefits.
4. Contribution Mechanism: Subscribers need to have a bank account from which their contributions are auto-debited monthly, quarterly, or half-yearly. This auto-debit system ensures regular contributions without the hassle of manual payments.
Objectives of APY
APY's primary objective is to provide financial security to individuals working in the unorganized sector, such as domestic helpers, gardeners, delivery personnel, and other informal workers. By offering a guaranteed pension, APY aims to:
- Promote Savings: Encourage long-term savings habits among low-income individuals.
- Provide Economic Security: Protect against financial uncertainties due to old age, accidents, illnesses, and other unforeseen circumstances.
- Foster Inclusive Growth: Ensure that the benefits of economic growth reach all sections of society, particularly those at the lower end of the income spectrum.
How to Enroll in APY
1. Registration Process: To enroll in APY, individuals must visit their local bank branch, fill out the APY registration form, and provide their bank account number, Aadhaar number, and mobile number. The first contribution is auto-debited at the time of registration.
2. Contribution Structure: Contributions are based on the chosen pension amount and the subscriber’s age at the time of enrollment. The earlier an individual starts contributing, the lower the monthly payment required to achieve the desired pension amount.
Flexibility and Changes
1. Adjusting Pension Amount: Subscribers have the flexibility to change their pension amount once a year, in April. This allows them to adjust their contributions based on their financial situation.
2. Handling Defaults: If contributions are not made regularly, penalties are imposed. For instance, a penalty of Rs. 1 per month is charged for contributions up to Rs. 100, Rs. 2 for contributions between Rs. 101 and Rs. 500, Rs. 5 for contributions between Rs. 501 and Rs. 1,000, and Rs. 10 for contributions above Rs. 1,001.
3. Account Status: If no contributions are made for six months, the account is blocked. It becomes inactive after twelve months of non-contribution and is closed if no contributions are made for twenty-four months.
Benefits and Tax Incentives
Subscribers to APY enjoy several benefits, including tax deductions under Section 80CCD of the Income Tax Act. This not only encourages participation but also provides financial relief to contributors.
Conclusion
The Atal Pension Yojana is a crucial step towards financial inclusion and security for India's unorganized sector. By providing a guaranteed pension and encouraging long-term savings, APY helps individuals achieve a sense of economic stability and dignity in their old age. This scheme is a testament to the government's commitment to ensuring that the benefits of economic progress are shared by all, fostering a more equitable society.
Maintenance fees and charges related to APY accounts
| Step | Intermediary | Activity | Relevant Charges |
|---|---|---|---|
| 1 | Presence Location | APY Subscriber Registration | ₹120 to ₹150, depending on the number of customers |
| 2 | Recurring Charges Per Year | ₹100 per customer | |
| 3 | Central Recordkeeping Agencies | APY Account Opening Fee | ₹15 per account |
| 4 | Account Maintenance Fee | ₹40 per account per year | |
| 5 | Custodian | Investment Maintenance Fee (Per Year) | 0.0075% for electronic AUM and 0.005% for physical AUM |
| 6 | Pension Fund Manager | Investment Maintenance Fee (Per Year) | 0.0102% of AUM |
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