ATAL PENSION YOJANA: GOVERNMENT OF INDIA
Atal pension yojana is one of the flagship schemes implemented by the ministry of finance. the purpose of launching this scheme is to provide security to old age and workers who are working in the unorganized sector. it is one of the best schemes for the future security of informal sector workers. The regulatory body of this scheme is the pension fund regulatory and development authority.
This scheme is implemented in every state and UT of India. The scheme is all about the economic welfare of Indian citizens. The scheme is replaced by the swavalamban yojana.
The objective of the Atal pension yojana
The main focus is on the unorganized sector of the economy and the future safety of old age.
Eligibility criteria for Atal pension yojana
1. Atal pension yojana for those people who are a member of the statutory social security scheme.
2. The age criteria is 18- 40 with a bank account are eligible for the Atal pension yojana.
3. Adhar card must be linked with a saving account.
4. Aadhar number is mandatory to get the return of the scheme and to get government contribution is to be credited.
The benefit of the Atal pension yojana
1. future security: the scheme allows you to keep your future safe. especially those are working in the informal sector. For a better future, the Atal pension yojana is important.
2. Income source: The unorganized sector doesn't have future security they can go with the Atal pension yojana as a future income source.
3. Fixed Pension: It is the best scheme for the fixed income of old age.
4. Tax benefit: The subscriber gets a tax benefit similar to the National pension system.
Guaranteed pension
1. The subscriber will get the minimum guaranteed amount which is 1000 to 5000 per month as per their contribution from the age of 60.
2. The pension will be transferred to the spouse after the death of the subscriber. if both the subscriber and spouse are demise the amount will be paid to the nominee of the subscriber.
Achievement of scheme
The Atal pension yojana added more than the 1 crore subscriber since launching in May 2015.
The future security of old age.
Conclusion
This scheme is all about the future security of the unorganized sector. it is beneficial for the old age people of India. The scheme provides lots of benefits for the future safety and security of Indian citizens. After of 60, the subscriber can get the return of the policy.
