The government has started Atal Pension Yojana to provide income to people even after retirement. From the name of this scheme itself it can be understood that in this the beneficiary gets the benefit of pension. Today in this article we will tell you what is the process of application in this scheme and what is its eligibility.
After retirement, we do not like to depend on anyone to fulfill our needs. In such a situation, we invest in many retirement schemes while working to continue earning even after retirement.
Pension is also considered a very good income source after retirement. Today we will tell you about a government scheme in which the beneficiary gets the benefit of pension every month.
Yes, we are talking about Atal Pension Yojana . This is a Retirement Saving Scheme.
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What is Atal Pension Yojana
Atal Pension Yojana was launched by the Government of India on 9 May 2015. In this scheme the investor has to invest for 20 years. When the investor turns 60 years of age, he gets the benefit of pension. The amount an investor invests in this scheme, he gets the same amount as pension.
For example, if Rakesh invests Rs 1,000 every month in Atal Pension and Ram also invests Rs 84 every month in this scheme. In such a situation, after the age of 60 years, Rakesh gets a pension of Rs 5,000 and Ram gets Rs 2,000.
How to apply
The application process in this scheme is both online and offline. You can apply offline by visiting your nearest bank. You can also apply online by visiting the bank’s website.
Let us tell you that during the application, you will have to give details of Aadhaar Card, mobile number and savings bank account.
Eligibility for Atal Pension Yojana
- Only Indians will get the benefit of this scheme.
- The age to apply should be between 18 to 40 years.
- The applicant’s bank account should be linked to Aadhar card.
- The applicant should not already be a beneficiary of Atal Pension Yojana.
- The applicant must have a mobile number.
