Atal Pension Yojana Full Details | APY Full Procedure


ATAL PENSION YOJNA


Importance of Pension Scheme :
◆ Manage Day to Day expenses after retirement
◆ Require regular money monthly after retirement
◆ Be financial free at Old age
◆ Invest Less Today & Get More Tomorrow



What is Atal Pension Yojna
◆ Affordable to all Pension scheme started by Modi Govt in 2014
◆ Flexibility to choose out of 5 different options payout
◆ Entry Age limit 18 to 40 years
◆ Special discount on premium for people below poverty line


APY Premium payble for rs. 5000 pension payout :
◆ For 18 Years age = Rs. 210 per month
◆ For 25 Years age = Rs. 376 per month
◆ For 30 Years age = Rs. 577 per month
◆ For 35 Years age = Rs. 902 per month
◆ For 40 Years age = Rs. 1454 per month


APY Important Benefits :
◆ Less the age Less the premium
◆ Premium remain fix with increase of age
◆ Auto debit of Premium via ECS 
◆ Premium paid can be chosen as monthly, quarterly, half yearly or yearly


Documents required for APY :
◆ Nomination form available at your bank branch
◆ ID Proof (PAN Card / Passport / Aadhar Card / Voter ID Card etc)
◆ Address Proof (Driving License, Passport / Aadhar Card / Voter ID Card etc)
◆ Age Proof (Birth Certificate / Passport / Aadhar Card / Voter ID Card / PAN Card etc)
◆ Passport size photo


Some Recommendations :
◆ Buy at early age so that premium remains low for lifetime (buy as you attain age of 18)
◆ Avails tax benefits of 80CCD on premium paid
◆ Opt for maximum pension amount i.e. for pension rs. 5000 per month

Location: Delhi, India

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