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Atal Pension Yojana | Company Vakil

Atal Pension Yojana (APY)

The Government of India presented Atal Pension Yojana in June 2015 to give standardized savings to the maturity laborers in the disorderly part. Atal Pension Yojana gives an approach to workers in disorderly area just, deliberately set aside some cash for their retirement. So here in this piece, we will take a broader look at the Atal Pension Yojana.

Disorderly Area (Unorganized Sector)

Area includes little scale undertakings and not connected with the government rules are called as disorderly Area/ Unorganized sector. So given below are few examples related to it.

  • Agricultural laborers
  • Small and marginal farmers
  • Weavers
  • Carpenters
  • Blacksmiths

Want to know more?

Highlights of Atal Pension Yojana (APY)

According to Atal Pension Yojana, the supporters will get a settled month to month pension of Rs.1000 to Rs. 5000 for a 60 year old by having a look at their contributions. The commitment level will change as per his contribution. It will be low if supporter joins early and increment in the event if he joins late. The Government will co-contribute half of the aggregate commitment or Rs.1000 for an entire year, whichever is lower, to each qualified and successful endorser.

Co-Contribution of the Government

The Government’s half commitment to the supporter’s record is valid for a time of five years. The plan will proceed after 5 years. However, Government Co-commitment won’t be accessible to the supporter. The accompanying classifications of people are qualified for accepting government co-Contributions under Atal Pension Yojana:

  • Individual who join the Pension Scheme between the period 01.06.2015 and 31.12.2018.
  • Individual who are not part of any statutory social security scheme.
  • Individual who are not the payers of Income Tax.

Advantages of Atal Pension Yojana

Coming up next, in this article, are a portion of the real advantages of the Atal Pension Yojna:

Pension after 60 years of age

Atal Pension Yojna gives ensured Monthly Pension of Rs.1000 to Rs.5000 at 60 years of age until the person dies.


  • After the demise of the person, the life partner will be qualified for the same pension that his/her spouse used to get, until the death.
  • After the demise of both, the chosen one will get the whole benefits and pension amount that the subscriber used to get till the age of 60.

Insurance Acts

  • In the event that the supporter passes on before 60 years, the mate should pick any of the accompanying alternatives.
  • Life partner can leave the plan/scheme.
  • Accumulated amount can be claimed by the Companion.
  • They can keep up the record under the endorser’s name for the rest of the years. The life partner of the subscriber will get the similar amount as his/her spouse until the death of the spouse.

Qualification for Atal Pension Yojana Scheme

  • Qualified conditions to get an Atal Pension yojana Scheme are recorded beneath.
  • Individual ought to be an India resident.
  • Age of the individual ought to be between 18 and 40 years.
  • Individual ought to have a legitimate financial account in some bank.
  • Joining age and commitment period for Atal Pension Yojana is given beneath:
Age of Joining & Contribution Period
Minimum age in order to join APY 18 Years
Maximum age in order to join APY 40 Years
Beginning of pension 60 Years
Minimum period of contribution 20 years or more

How to apply for Atal Pension Yojana

Applying for Atal Pension Yojana can be finished effectively by following the means underneath. Adhaar number and mobile number are required for enlistment.

Step 1: Go to the bank or the post office where you keep your savings bank account.

Step 2: Complete the Atal Pension Yojana registration form or visit internet banking for this purpose.

Step 3: Choose auto debit facility for your commitments in order for this pension scheme. The premium sum will be charged from the account until the age of 60.

Commitments done to Atal Pension Yojana

The commitments can be made in month to month/quarterly/half yearly interims through auto debit facility from either savings bank account or post office account.

Postponed Contribution

Banks will gather extra sum for postponed contributions and this sum will change from minimum Rs.1 every month to Rs.10 every month as demonstrated below:

  • Commitment up to Rs.100 every month makes Rs.1
  • Commitment from Rs.101 to 500 makes Rs.2
  • Commitment from Rs.501 to 1000 makes Rs.5
  • Commitment above Rs.1001 makes Rs.10

Put an end to the Contribution

In the event that the commitment is suspended for a half year, the account will be solidified. In the event of no giving of commitment for a year, the account will be deactivated and following two years, the account will be shut.

We, as a legal website try to entertain our readers by providing them quality stuff to read so that there information is enhanced and they become aware of leading topics. Pension schemes are always kept in mind while writing this article for you.

All these services are really helpful that are provided by the Government. All these services can bring many good things for the citizens. We have tried to write a comprehensive article regarding obtaining it which is going to be used in many cases.

We have also written many articles for your assistance. To look those, please visit

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