Atal Pension Yojana Government Contribution

Atal Pension Yojana Government Contribution

Even since the Modi Government has taken power over central government it has been coming up with numerous social welfare and alleviation schemes.  One such scheme is Atal Pension Yojana, which is a clear indication that the government is concerned about the welfare and financial security of the old age population.

Atal Pension Yojana is a pension scheme in which any Indian national can subscribe and start contributing towards their pension, which they would start getting after the age of 60 years.  The pension that an individual would get after 60 years would range from Rs 1,000 to Rs 5,000, depending upon the level of contribution.

Atal Pension Yojana Government Contribution

It is noteworthy here that this pension scheme is backed by Government of India and the government too contributes towards the pension for a specific period.  The government would be providing a fixed pension guarantee to all its subscribers and that would include 50 per cent of the contributory amount or Rs 1,000, whichever is lower. Last date to avail government contribution in Atal pension Yojana is now 31st march 2016.

The contribution would only be funded by the government to eligible subscribers.  The government would also be reimbursing incentives to the contributions so that more and more people join the Atal Pension Yojana.  All this is being done just to ensure that people opt for this pension scheme and there be no financial insecurity among old age people in coming times.

The welfare and development of any nation is possible only when its children and old age are secured from all aspects.  Welfare schemes like Sukanya Samriddhi Yojana and Atal Pension Yojana are just a step to ensure that this alleviation happens across the length and breadth of the country.

The minimum an individual has to contribute towards this pension scheme is Rs 42 per month and the maximum that anyone would be required to contribute would be Rs 210 per month.  This means that if someone is contributing Rs 42 every month, he/she would be eligible for a pension of Rs 1,000 per month after 60 years.  Likewise, if someone is contributing Rs 210 per month, he/she would be eligible for a pension of Rs 5,000 per month.

As a matter of fact, any Indian national within the age group of 18 to 40 years is eligible to join Atal Pension Yojana and contrite towards their old age security.  The Atal Pension Yojana can be availed by any Indian national who is not currently enjoying any other social security scheme.

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