Atal Pension Yojana (APY) Application Form - Summary
Atal Pension Yojana (APY) Application Form
The Atal Pension Yojana (APY) Application Form is crucial for anyone looking to join this widely recognized pension scheme. The APY is a contribution-based plan that ensures a fixed monthly pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, or Rs 5,000 when you retire. Your monthly contribution will vary based on the pension amount you select and your age at the time of joining. Contributions continue until you turn 60 years old. For instance, if you enroll in APY at 40 years, you must contribute for at least 20 years to receive your pension. The following table details the monthly contributions required for different pension plans based on your age.
Eligibility for Atal Pension Yojana
1. You must be an Indian citizen.
2. You should have a valid bank account.
3. Your age must be between 18 and 40 years.
Benefits of Atal Pension Yojana
The Atal Pension Yojana provides guaranteed pensions ranging from Rs 1,000 to Rs 5,000, as mentioned above. One of the benefits of this scheme is that you can change your pension amount once a year during the accumulation phase.
If a subscriber passes away, the spouse can continue receiving the same pension amount until their death. After both the subscriber and spouse are gone, the nominee will get the pension savings that the subscriber accumulated until age 60.
In cases where the subscriber dies before reaching 60 years, the spouse has two choices: they can either exit the scheme and claim the accumulated amount or keep the account active in the subscriber’s name for the remaining duration. In this case, the spouse will receive the same pension amount as the subscriber until their death.
For your convenience, you can easily download the Atal Pension Yojana (APY) Application Form in PDF format using the link below. Secure your future and enjoy peace of mind today! 💼