New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Introduction of the Atal Pension Yojana

Dated:- 2-3-2015 - The Government of India is extremely concerned about the old age income security of the working poor and is focused on encouraging and enabling them to join the National Pension System (NPS). To address the longevity risks among the workers in unorganised sector and to encourage the workers in unorganised sector to voluntarily save for their retirement, who constitute 88% of the total labour force of 47.29 crore as per the 66th Round of NSSO Survey of 2011-12, but do not have .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

gulatory and Development Authority (PFRDA) and who are not members of any statutory social security scheme. Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, ₹ 2000 per month, ₹ 3000 per month, ₹ 4000 per month, ₹ 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ing subscribers of Swavalamban Scheme would be automatically migrated to APY, unless they opt out. 3. A copy of the Note on APY is enclosed. Note on Atal Pension Yojana Benefit of APY: Fixed pension for the subscribers ranging between ₹ 1000 to ₹ 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late. Eligibility for APY: Atal Pension Yojana (APY) is open t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ing to reduction in contribution collection charges. Enrolment agencies: All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through architecture of National Pension System. Operational Framework of APY: It is Government of India Scheme, which is administered by the Pension Fund Regulatory and Development Authority. The Institutional Architecture of NPS would be utilised to enrol subscribers under APY. Funding of APY: Government would provi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below. For example, to get a fixed monthly pension between Rs. 1,000 per month and ₹ 5,000 per month, the subscriber has to contribute on monthly basis between ₹ 42 and ₹ 210, if he joins at the age of 18 years. For the same fixed pension levels, the contribution would range between Rs. 291 and ₹ 1,454, if the subscriber joins at the age .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

18 42 42 1,000 1.7 Lakh 20 40 50 1,000 1.7 Lakh 25 35 76 1,000 1.7 Lakh 30 30 116 1,000 1.7 Lakh 35 25 181 1,000 1.7 Lakh 40 20 291 1,000 1. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

18 42 84 2,000 3.4 lakh 20 40 100 2,000 3.4 lakh 25 35 151 2,000 3.4 lakh 30 30 231 2,000 3.4 lakh 35 25 362 2,000 3.4 lakh 40 20 582 2,000 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in Rs.) 18 42 126 3,000 5.1 Lakh 20 40 150 3,000 5.1 Lakh 25 35 226 3,000 5.1 Lakh 30 30 347 3,000 5.1 Lakh 35 25 543 3,000 5.1 Lakh 40 20 873 3, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version