Atal Pension Yojana (APY) Scheme | Online Application Form – Eligibility & Benefits

The government of India has announced the Atal Pension Yojana (APY) Scheme in the year 2015-16. The scheme was introduced to provide the benefits of pension to the persons belonging to the unorganized sector. The PFRDA has the authority to control and regulate the scheme. Moreover, persons belonging to the organized sector and who do not have pension benefits can also apply for the APY scheme. With the help of the scheme, individuals can save the amount of their income and can secure their old age. Earlier,Swavalamban Yojana was there in place of APYs.

PM Mudra Yojana

Individuals invested in this scheme will start getting pension on attaining the age of 60. It may be noted that the pension scheme will purely depend on monthly contributions and age. The eligibility & benefits related to the Atal Pension Yojana (APY) Scheme is provided on this page. The process to fill the APY online application form also provided below. Have a look.

Atal Pension Yojana (APY) Scheme- Eligibility

• Any Individuals who have a bank in the account are eligible. The Government Of India (Central) will contribute 50% of the total contribution or Rupees one thousand rupees p.a., whichever is lower.
• The age of the individuals must be between 18 to 40 years.
• The APY scheme is available for at least 20 years.
• Your Aadhar and a working mobile number must be linked with your bank account.

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APY Scheme- Benefits

• It is organized and run by the government, so it is trusted.
• You can choose the nominee of your choice.
• It will help you to save money for old age.
• Enabling the unorganized sector.

Features of Atal Pension Yojana (APY)

• Automatic Debit– Once you linked your bank account with the scheme, the amount for the monthly contributions in the scheme will be automatically deducted from the account.
• Guaranteed Pension– It is one of the attractive features of the scheme, the beneficiary can choose the periodic pension of one, two, three, four, or five thousand according to their monthly contributions.
• Option To Increase Scheme Amount– Generally, the scheme holder becomes eligible for the pension amount after completing the age of 60 years. But the individuals have the option to increase the period.
• Withdrawal Guidelines– Individuals will receive monthly pensions after the age of 60 years. If the individual dies, the nominee will be eligible to receive a pension. 

MSME Online Registration

Penalty Under Atal Pension Yojana

It may be noted that there will be a penalty for the late payments, the penalty are as follows

• Rupee 1 for a monthly paymentof up to Rupees. 100.
• Rupees 2 for monthly paymentwithin Rupees. 101 and Rupees. 500.
• Rupees 5 for monthly paymentwithin Rupees. 501 and Rs. 1000.
• Rupees 10 for a monthly paymentof Rupees. 1001 and above.

National Savings Certificate

What If payment Discontinued?

If you fail to pay the monthly installments than-

After 6 months	Your account will be frozen
After 12 months	account will be deactivated
After 24 months	account will be closed

Stree Swabhiman Yojana

Chart For Monthly Contribution for Atal Pension Yojana

Monthly Contributions for (In Rs.)
Entry Age (In Years)	Number of Years of Contribution	Monthly Pension – Rs. 1000 | Indicative Return of Corpus – Rs. 1.7 Lakh	Monthly Pension – Rs. 2000 | Indicative Return of Corpus – Rs. 3.4 Lakh	Monthly Pension – Rs. 3000 | Indicative Return of Corpus – Rs. 5.1 Lakh	Monthly Pension – Rs. 4000 | Indicative Return of Corpus – Rs. 6.8 Lakh	Monthly Pension – Rs. 5000 | Indicative Return of Corpus – Rs. 8.5 Lakh
18	42	42	84	126	167	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	423	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1087
38	22	240	480	720	957	1196
39	21	264	528	792	1054	1318

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