Atal Pension Yojana in governmental backed pension schemes in India targeted at the unorganised sector .It was originally mentioned in 2015 budget speech by finance minister Arun Jaitley in February 2015.
Only 11 person of India's population has any kind of pension scheme this scheme aim to increase the number.
In Atal Pension Yojana for every contributor and made to Pension Fund the central government also contribute 50% of the total contributions of rupees 1000 per annum, whichever is lower 2 is eligible subscriber account, for a period of 5 years.
Minimum age of joining a p y is 18 years and maximum age is 40 years.
The age of exist and start of the pension would be 60 years.
Therefore minimum period of contributions by the subscriber under a p y would be 20 year or more.
Aadhar would be the primary KYC document for identification of beneficiaries spouse and nominees to avoid fans and lights and entitlement related to the disputes in this long term.
The subscriber all required to opt for monthly pension schemes of 1000 to 5000 sentence for payment of stipulated monthly contribution regularly.
The subscriber cannot to decrease or increase pension amount during the courses of accumulation page as per the available monthly pension amounts.
How was the switching auction sale be provided once in year during the month of April.
This is games will be linked to the bank account opened under the Pradhan Mantri Jan Dhan Yojana schemes and contributors will be deducted automatically.
Most of these account had zero balance initially.
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