Atal Pension Yojana (APY) Application Form - Summary
APY, or Atal Pension Yojana, is a well-known pension scheme in India that involves regular contributions and guarantees a fixed monthly pension ranging from Rs 1,000 to Rs 5,000. The contribution amount you need to make each month depends on the pension amount you select and your age when you start contributing. You will be expected to make contributions until you reach the age of 60. For instance, if you join APY at 40, you’ll need to contribute for at least 20 years before receiving your pension. You can refer to the monthly contributions required based on your age and chosen pension plan in the table below.
Eligibility Criteria for Atal Pension Yojana
To apply for the Atal Pension Yojana, you must meet the following eligibility criteria:
1. Be an Indian citizen.
2. Hold a valid bank account.
3. Be between 18 and 40 years old.
Benefits of Atal Pension Yojana
The Atal Pension Yojana provides a guaranteed monthly pension ranging from Rs 1,000 to Rs 5,000, as earlier mentioned. Moreover, subscribers can adjust their pension amount annually during the accumulation phase.
If a subscriber passes away, their spouse is entitled to receive the same pension until the spouse also passes away. After both the subscriber and the spouse have passed, the nominated beneficiary can claim the accumulated pension amount until the subscriber’s 60th birthday.
If the subscriber dies before reaching 60, the spouse has two options: they can either withdraw and claim the accumulated amount or keep the account active in the subscriber’s name for the remaining years. If the spouse decides on the latter, they will receive the same pension amount as the subscriber until the spouse’s death.
Feel free to download the Atal Pension Yojana (APY) Application Form in PDF format using the link provided below. This PDF is an excellent resource to help you get started with your application. Don’t miss out!