MDM Menu Ferfar karva babat latest gr

MDM Menu Ferfar karva babat latest gr

Important link for this post 

MDM Menu Ferfar karva babat latest gr

Read official circular click here 

This post we are Provide Information about Atal Pension Scheme/Atal Pension Yojana.Benefits of the Atal Pension Scheme.Eligibility of the beneficiary of the Atal Pension Scheme.Some Important questions about Atal Pension Yojana. What is Atal Pension Scheme? Who can become a member of APY? How to open an APY account?.

Atal Pension Scheme

The Government of India wants to strengthen as well as secure the economic condition of the country. The way in which the country's middle class and the poor are coming up with new schemes one after another, the citizens of the country who have been neglected for years now feel that this government is a government that takes the poor people of the country along and wants to secure their future.
If the poor people of the country develop then the country will move forward automatically and the greatest security of any person is its economic security and to provide this economic security the present government has implemented a new pension scheme. This scheme is Atal Pension Scheme.

Atal Pension Yojana Full Information

The main objective of this scheme is to provide pension benefits to the people in the unorganized sector of the country. The scheme provides social security facility to the common people of such an unorganized sector with minimum participation i.e. the beneficiary of the scheme does not have to be dependent on others in case of illness, accident, or old age.

Atal Pension Scheme/Atal Pension Yojana

Apart from this, those in the private sector of the country who do not get the benefits of this type of pension can also claim to get a pension through this scheme and can get a pension ranging from Rs. 1000, Rs. 2000, Rs. 2000, Rs. 2000 to Rs. If the person who is a part of this scheme gets the premium paid and considering his age, he will get the amount of this pension. If he dies in the meantime, his spouse can also claim this pension.

Benefits of Atal Pension Scheme

• Income security during old age.
• The purpose of this scheme is to invest in involuntary retirement.
• Will be focused on workers in the unorganized sector.
• Implementation will be from 01-06-2015.
• Eligibility: The minimum age will be 18 years and maximum age limit will be 60 years.
• The administration will be done by the Pension Fund Regulatory and Development Authority (PFRDA).

The Atal Pension Scheme is like a protection umbrella for aging Indians. At the same time the scheme promotes a culture of saving among the lower and lower-middle-class people of the society. The biggest feature of this scheme is that it benefits the poorest citizens of the country. In this too, the Government of India is giving the facility to those who are involved in this scheme till December 31, 2015 to pay 50% of the amount to be paid for 3 years or Rs. 1000 whichever is less.

Eligibility of the beneficiary of Atal Pension Scheme

The Atal Pension Scheme (APY) is for all Indian citizens between the ages of 18 and 40. To avail the benefits of this scheme, everyone has to pay the amount fixed by the government for at least 20 years. Any bank account holder who is not a member of any such social security scheme can avail of this scheme.
For a monthly pension of Rs.1000 / - to Rs.5000 / -, the beneficiary will have to pay an age-based contribution of Rs.42 / - to Rs.291 /.

The level of contribution will vary with the age of the person. A person who joins at a younger age will have less contribution and more for older age.
To encourage investment in this scheme, a new account will be credited to the account holder by the Central Government before 31-12-2017 within the maximum limit of Rs.1000 / - per annum or whichever is less than 50% of the total contribution in the account. (From 2015-16 to 2019-20) The savers of the present Rashtriya Swavalamban Yojana will be automatically transferred to the Atal Pension Yojana.

Important Link For This Post

Some Important question about Atal Pension Yojana

• What is a pension? Why do I need it?
• Pensions provide people with a monthly income in their retirement.
• Pension requirement
• Decreased ability to earn income with age
  Becoming a New Nuclear Family - Migration of Income Members
  Increase in subsistence costs
  Longevity
  Ensuring a monthly income ensures dignified life in old age.

What is Atal Pension Scheme?

The Atal Pension Scheme (APY) is a pension scheme for the citizens of India, especially for workers in the unorganized sector. Under this Atal Pension Scheme, customers are entitled to a minimum of Rs. 1000 / -, 2000 / -, 3000 / -, 4000 / - and 5,000 / - Guaranteed monthly pension will be given at the age of 60 years.

Who can become a member of APY?

Any citizen of India can join the APY scheme. The criteria for eligibility are as follows.

• The age of the customer should be between 18 to 40 years.
• They should have/open a savings account in the bank.
• The prospective applicant should have a mobile number and details of which should be given at the time of registration with the bank.

Customers who have joined the scheme from June 1, 2015, to December 31, 2015, and who are not covered under the legal social security scheme and have not paid income tax, will be eligible for five years from the government i.e. from 2015-16 to 2019-20. Co-contributions are available.
Which other social security scheme beneficiaries are not eligible for government co-contribution under APY?
Beneficiaries who are covered under a legal social security scheme are not eligible to receive co-contributions from the government. For example, members of social security schemes covered under the following structures are not eligible for government co-contributions.

• Employees Provident Fund and Various Provisions Act, 1952.
• Coal Provident Fund and Various Provisions Act, 1948.
• Assam Tea Plantation Provident Fund and Various Provisions Act, 1955.
• Marine Farmer Provident Fund Act, 1966
• Jammu and Kashmir Employees Provident Fund and Various Provisions Act, 1961.
• Any other legal social security plan.

How much pension will be received under APY?

Customers are required to pay a minimum of Rs. 1000 / -, 2000 / -, 3000 / -, 4000 / - and 5,000 / - Guaranteed monthly pension will be given at the age of 60 years.
The minimum pension benefit under the Atal Pension Scheme is guaranteed by the government which means that if the return on the contribution required for the minimum guaranteed pension is less than the actual return estimated, the declining compensation will be provided by the government. Moreover, if the actual return of the pension contribution is higher than the estimated return, it will be credited to the customer's account, thereby increasing the benefit to the customer.

What are the benefits of joining the APY scheme?

In APY, the government will contribute 50% of the customer's contribution or Rs. 1000 / - per annum, whichever is less, to each eligible customer who joins the scheme from June 1, 2015, to December 31, 2015. Co-contributions are available from the government for five years i.e. from 2015-16 to 2019-20.

How are APY contributions invested?

The APY contribution will be invested in accordance with the investment policy set by the Ministry of Finance, Government of India. This APY scheme is administered by the PFRDA / Government.

How to open an APY account?

Contact the bank branch in which you have a savings account.
Filling the APY registration form.
Provide support / mobile numbers.
Ensure that the required amount is deposited in the bank savings account for monthly contribution transfer.
Is Aadhaar number mandatory to join the scheme?
Aadhaar number is not mandatory for opening the APY account. However, for admission, the Aadhaar number will be the primary KYC document for long term avoidance of disputes related to pension rights and entitlement as well as identification of beneficiaries, spouses, and nominees.

Can I open an APY account without a savings bank account?

No, to join APY, a bank savings account is mandatory.
How will the contribution be credited to the account?
All contributions will have to be paid monthly from the customer's bank savings account through the auto-debit facility.
What will be the due date for monthly contributions?
The due date for monthly contributions will be as per the date of the initial contribution submitted in APY.
What happens if the required or sufficient amount for contribution is not maintained in the Savings Bank account on the due date?
Failure to keep the required amount for contribution in the savings account on the due date will be considered as default. In case of late payment, the bank will have to levy an additional penalty of at least Rs. 1 to Rs. 10 per month as shown below.

• The penalty of Rs. 1 per month on the monthly contribution of Rs.
• A penalty of Rs 2 per month for contributions ranging from Rs 101 to Rs 500 per month.
• A penalty of Rs 5 per month for contributions ranging from Rs 501 to Rs 1000 per month.
• A penalty of Rs. 10 per month for contributions exceeding Rs. 1001 per month.