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    Atal Pension Yojana

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    AakashParan
    Atal Pension Yojana is an Indian government pension scheme for the unorganized sector. It was announced in the 2015 budget and formally launched in May 2015 by Prime Minister Narendra Modi to increase pension coverage, which is currently only 11% of the population. The scheme aims to provide subscribers between Rs. 1,000-5,000 per month upon retirement depending on contributions made between ages 18-40, with equal matching by the government. It is linked to bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme to automatically deduct contributions and reduce zero balance accounts.

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    Atal Pension Yojana

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    AakashParan
    5 views2 pages
    Atal Pension Yojana is an Indian government pension scheme for the unorganized sector. It was announced in the 2015 budget and formally launched in May 2015 by Prime Minister Narendra Modi to increase pension coverage, which is currently only 11% of the population. The scheme aims to provide subscribers between Rs. 1,000-5,000 per month upon retirement depending on contributions made between ages 18-40, with equal matching by the government. It is linked to bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme to automatically deduct contributions and reduce zero balance accounts.

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    Atal Pension Yojana is an Indian government pension scheme for the unorganized sector. It was announced in the 2015 budget and formally launched in May 2015 by Prime Minister Narendra Modi to increase pension coverage, which is currently only 11% of the population. The scheme aims to provide subscribers between Rs. 1,000-5,000 per month upon retirement depending on contributions made between ages 18-40, with equal matching by the government. It is linked to bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme to automatically deduct contributions and reduce zero balance accounts.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5 views2 pages

    Atal Pension Yojana

    Uploaded by

    AakashParan
    Atal Pension Yojana is an Indian government pension scheme for the unorganized sector. It was announced in the 2015 budget and formally launched in May 2015 by Prime Minister Narendra Modi to increase pension coverage, which is currently only 11% of the population. The scheme aims to provide subscribers between Rs. 1,000-5,000 per month upon retirement depending on contributions made between ages 18-40, with equal matching by the government. It is linked to bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme to automatically deduct contributions and reduce zero balance accounts.

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    Atal Pension Yojana

    4 References

    Atal Pension Yojana is a government-backed pension


    scheme in India targeted at the unorganised sector. It
    was originally mentioned in the 2015 Budget speech by
    Finance Minister Arun Jaitley in February 2015.[1] It was
    formally launched by Prime Minister Narendra Modi on
    9 May in Kolkata.[2] As of May 2015, only 11% of Indias
    population has any kind of pension scheme, this scheme
    aims to increase the number.[3]

    [1] Jan Suraksha: Social security for masses, pricing woes


    for insurers. Business Standard. 9 May 2015. Retrieved
    9 May 2015.
    [2] Banks advertise Pradhan Mantri Bima Yojana ahead of
    the roll out. Live Mint. 8 May 2015. Retrieved 9 May
    2015.
    [3] "'Jan Suraksha schemes to help eliminate Jan Dhans zero
    balance accounts". Business Standard. 8 May 2015. Retrieved 9 May 2015.

    Overview

    In Atal Pension Yojana, for every contribution made to Atal Pension Yojana in Hindi
    the pension fund, the government will contribute an equal
    amount to his/her fund. Depending on the contribution
    made between 18 and 40, at the age of 60 a sum of 1,000,
    2,000, 3,000, 4,000, or 5,000 will be paid monthly.[1][3]
    This scheme will be linked to the bank accounts opened
    under the Pradhan Mantri Jan Dhan Yojana scheme and
    the contributions will be deducted automatically. Most of
    these accounts had zero balance initially. The government
    aims to reduce the number of such zero balance accounts
    by using this and related schemes.[3]

    Online Calculation Tools

    To calculate monthly investment amount for desired pension amount, use tool below
    http://www.dailytools.in/
    GovernmentSavingSchemes/AtalPensionYojana'''
    Android Mobile App to calculate Atal pension Yojana
    Premium.
    https://play.google.com/store/apps/details?id=com.
    akonline.apycalculator&hl=en'''

    See also
    Pradhan Mantri Jan Dhan Yojana, a nancial inclusion scheme in India
    Pradhan Mantri Suraksha Bima Yojana, a related
    accident insurance scheme
    Pradhan Mantri Jeevan Jyoti Bima Yojana, a related
    life insurance scheme
    1

    5 TEXT AND IMAGE SOURCES, CONTRIBUTORS, AND LICENSES

    Text and image sources, contributors, and licenses

    5.1

    Text

    Atal Pension Yojana Source: https://en.wikipedia.org/wiki/Atal_Pension_Yojana?oldid=671822871 Contributors: Shyamsunder, Kenfyre, Pavan1804, Nagu711, GovScheme, Mr.vasudevan and Anonymous: 1

    5.2

    Images

    5.3

    Content license

    Creative Commons Attribution-Share Alike 3.0

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