Government Schemes

Atal Pension Yojana 2023

Atal Pension Yojana 2023

Government of India has started Atal pension plan so that no person should experience financial problems.

It is the duty of the government to provide social security and financial stability to the senior citizens. In this regard, no person should experience financial problems in old age time.  It started many years ago.

Atal pension plan

The Pension Fund and Development Authority regulates the Atal Pension Scheme.  Atal Pension Yojana has been updated in 2023 with new changes.

Newly this year senior citizens of non-organized sector workers can also join this scheme.  The Atal Pension Scheme, which envisages universal social security for citizens, was launched in 2015 and many changes have been made in 2023.

You can go to any of the nearby nationalized banks and apply in person or you can apply through the online portal of the banks.

How to apply for Atal Pension Yojana?

If you want to apply, you can get the application form from the bank and submit the required documents.  Basic documents like your Aadhaar Card, Bank Account Details, Passport Size Photo etc. are required.

Atal Pension Yojana benefit (benefit of APY)

After the age of 60, one has to invest for at least 20 years under this scheme to get a pension ranging from Rs 1,000 to Rs 5,000.  How much to invest is determined by the age at which you are investing.

Income tax payer cannot avail Atal pension scheme.  If you subscribed to the APY scheme before October 2022 and are now an Income Tax payer, your API account will be closed and the funds accumulated till date will be returned to you.

Under this scheme, 60 year olds will get a pension ranging from Rs 1,000 to Rs 5,000 and in case of premature death, the amount will be transferred to his wife.

Atal Pension Yojana is the best plan to have financial security in old age without reaching out to anyone.  For more details: https://npscra.nsdl.co.in/nsdl/scheme-details/Kannada.pdf Get information here.

Apply online

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