Important exam material on APY Atal Pension Yojna

APY-Atal Pension Yojna is a Jan Suraksha Scheme for every Indian introduced by the government of India. The aim of this scheme to provide a steady stream of income after the age of 60 to all citizens of India.

It is based on the National Pension Scheme (NPS) framework.

Under APY- Atal Pension Yojna, the subscribers have a choice to get a Fixed monthly Pension amount from Rs. 1000/-, Rs.2000/-, Rs. 3000/-, Rs. 4000/- and Rs. 5000/- by paying a monthly subscription.

Central Government will co-contribute 50% of the total yearly contribution or Rs. 1000 /- per annum, whichever is lower, for the period of 5 Years in the account of subscribers who join the scheme up to 31st December 2015 and who are not a member of any Statutory Social Scheme and not an Income taxpayer.

Subscribers joining APY scheme at an early stage of age would be required to pay lesser monthly subscription amount.

Nomination facility is also available in APY scheme.

Premature exit from APY is not permitted. However, it is permitted only in exceptional circumstances i.e. in the event of the death of beneficiary for terminal disease.

For more information please see the below video.

Post a Comment