Under this scheme, now you will get 5000 rupees every month after retirement, know how to avail the benefits Pension Scheme 2024

Pension Scheme 2024: In today’s time, every person wants to make his old age safe and comfortable. Keeping this objective in mind, the Government of India has started the Atal Pension Yojana. This scheme is proving to be a boon especially for people working in the unorganized sector. Let us know about this scheme in detail.

Atal Pension Yojana (APY) is a government pension scheme that provides financial security to the citizens of India in their old age. The main objective of this scheme is that people can ensure a fixed monthly income in their old age by making small savings during their working life. This scheme has been specially designed keeping in mind the employees of the unorganized sector.

1. Pension amount: Under this scheme, a guaranteed minimum pension ranging from Rs 1000 to Rs 5000 per month can be obtained after the age of 60 years.
2. Flexible Contribution: Members can choose the contribution amount as per their income and pension need.
3. Government co-contribution: For certain categories the government also contributes to the scheme.
4. Age Limit: People between the age of 18 to 40 years can join this scheme.
5. Minimum Contribution Period: One must contribute to the scheme for a minimum of 20 years.

Who can apply?

The following criteria must be fulfilled to apply for Atal Pension Yojana:

1. Age Limit: Applicant’s age should be between 18 to 40 years.
2. Nationality: Applicant must be a citizen of India.
3. Bank Account: The applicant must have a bank account linked with Aadhaar.
4. Other Schemes: The applicant should not be a part of any other social security scheme.
5. Contribution commitment: The applicant must be willing to contribute to APY for at least 20 years.
6. Swavalamban Scheme: Swavalamban Scheme beneficiaries who migrate to APY are also eligible for this scheme.

Required Documents

The following documents are required to apply for Atal Pension Yojana:

1. Aadhar card
2. I Certificate
3. Caste Certificate (if applicable)
4. Address proof
5. Mobile number linked with Aadhaar
6. email id
7. Two passport size photographs
8. Bank account statement
9. PAN card

Keeping these documents ready in advance makes the application process simple and quick.

Application Process

The process of applying for Atal Pension Yojana is completely online. You can easily apply by following the step-by-step process given below:

1. First of all visit the official website of Atal Pension Yojana.
2. Enter your PAN card number in the form given on the website.
3. In the next step register your mobile number and email ID.
4. An OTP (One-Time Password) will be sent to your registered mobile number and email ID.
5. Enter the received OTP on the website.
6. After this, you will get two options – ‘Bank One’ and ‘Bank Two’. Choose one of these options.
7. You will see the bank application on the next page.
8. Select UPI payment option in this application.
9. Enter your bank account number and UPI ID.
10. Complete the payment process by entering the UPI PIN.
11. After filling all the information click on the ‘Submit’ button.

Keep in mind that after joining this scheme you will have to pay a fixed premium every month. For example, if you want a monthly pension of Rs 1000 and join the scheme at the age of 25, you will have to pay a premium of around Rs 210 per month.