The Government-backed pension scheme, Atal Pension Yojana (APY) is for all Indian citizens and mainly focuses on the unorganised sector such as maids, gardeners, delivery boys, etc. APY ensures security and protection towards citizens from accidents, illness, diseases, etc.
Any individual can avail the benefits of the scheme by following these simple steps:
STEP1: The scheme is provided by all the nationalized banks. The applicant can visit any of these banks to open the APY account.
STEP2: Then, fill up the application form and submit it to your bank. Do note the forms for enrolling in Atal Pension Yojana scheme are available online and at the bank. One can also download the form from its official website. These forms are available in English, Hindi, Odia, Tamil, Bangla, Gujarati, Kannada, Marathi, and Telugu.
STEP3: Also, provide a photocopy of the Aadhar and a valid phone number.
The applicant will receive a confirmation message when the application is approved.
Do bear in mind that the applicant can opt for a monthly pension that may range between Rs. 1000 to Rs. 5000, this will begin after the age of 60 years. The pension's amount received by the applicant will directly be related to the age of the individual when it joined APY and its monthly contributions.