The benefits of Atal Pension Yojana

The Atal Pension Yojana (APY) is a scheme of the government which became effective on June 1, 2015 and primarily focuses on providing security for old age for workers without a formal job who are not cover by or under any social security plans.

The benefits offer by Atal Pension Yojana are list below: Atal Pension Yojana is outline in the following paragraphs:

The scheme provides subscribers with a fix pension range from Rs.1000 to the amount of Rs. 5000. The contribution amount varies according to the terms and conditions. It is minimal if the person joins early and could increase if he/she joins later.
In the event of the death of the subscriber, the spouse becomes qualify to receive the same benefits offer by the pension.
The pension fund will be paid back to beneficiaries upon the death spouse.
Participation in the Atal pension Yojana (APY) are qualify for tax benefits similar to those of the National Pension System (NPS).

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