Atal Pension Yojana is considered one of the most beneficial social schemes introduced by the Government in 2015-16. As per the schemes, a person can contribute to this account till 60 years of age. As a result, he will get some pension benefits. This can help him during his old age days. It is beneficial in the sense that it will benefit people to spend their livelihood after 60 years. It will be more or less like an assured pension scheme. The scheme is structured in such a manner so it can help people when they are old and retired from the job.
What are the top benefits of the Atal Pension Yojana scheme?
You will be glad to know that all major banks help customers in opening an account in this scheme. The whole scheme is regulated and controlled by the Pension Fund Regulatory and Development Authority of PFRDA. Let us try to explore the benefits of this scheme.
- You are entitled to get some death benefits. If the pensioner of the scheme expires the scheme will automatically transfer to his spouse. She acts here as the default nominee. If the pensioner or the contributor dies before 60 years, his spouse has the right to continue with the pension. She is also entitled to get the benefits under this scheme.
- The primary benefit of this scheme is the retirement benefit. You will get various pension benefits that may start from Rs 1000. It may be any amount.
- As a contributor, you are also entitled to the tax benefits under this scheme. The Government has provided ample tax benefits to the people for this scheme. This is why it is availed by a number of people. They are highly benefitted and pleased with this scheme.
Note:- According to Reports by 15 August, Pension Fund Regulatory and Development Authority (PFRDA) says 52 lakh new subscribers in 2020-21 take total enrollments to 2.75 crore
How to apply for the Atal Pension Yojana scheme?
You must be well aware of the steps or process of applying for this scheme. The Atal Pension Yojana application form is available on the Governments official site. You need to download the same from the site and fill it up with all relevant information’s. However, you need to provide a bank account in your name. If you do not have any such account you can also open an account under PM Jan Dhan Yojana Scheme. The second most essential point is you have to give all the essential personal details including the nominee’s name. In most cases, the spouse is considered to be the nominee of the contributor.
The form is available in all the regional languages. You can select a suitable language and fill-up the form. It is also essential to check the form at the submission time. Any false information may cancel the form and you will not be entitled to get the benefits under this scheme.
Atal Pension Yojana Calculator
Thus, with the emergence of the Atal Pension Yojana scheme, many people all across the country are benefitted. It has also saved many families for whom leading life after retirement is challenging. You can enrol on the scheme to get the essential benefits.
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