Indira Gandhi National Widow Pension Scheme
The Atal Pension Yojana (APY) scheme initiated by the government is a step towards safeguarding the interests of Indian labour. The APY will benefit citizens by providing them security during their old age. Additionally it will also encourage the culture of investment and saving among the lower middle and poor strata of the society.
- Those working in the unorganized sectors will have secured means to lead a dignified life.
- The government has come up with a plan to offer pensions of 1000, 2000, 3000, 4000, and 5000 INR per month, depending on the contributions made by the beneficiary.
Every Indian citizen can subscribe to the APY scheme, if they fulfill the following criteria:
- Applicant should be aged between 18 to 40 years
- Applicant should not be a member of any other social security scheme
- The person should have or must open a savings account in a bank
- Applicant should have a mobile phone
- Applicant shall be able to provide complete postal address at the time of application to receive bank statements regularly.
Benefits of the scheme
- The APY will address the old age income security of the 88% of the total labour force, which is majorly engaged in unorganised sector.
It will also encourage these workers to join the National Pension System.
- The government offered financial benefits for the APY scheme holders who registered for the scheme from 1st June to 31st December, 2015. The government co-contributed 50% of the total contribution amount. However, this offer was an introductory one, and does not apply currently.
Those applying for the APY scheme should have the following documents:
- Savings bank account
- Aadhaar Card/Aadhaar number
- Mobile Number
How to Apply
- Applicants have to approach the bank where they have their respective savings accounts
- The next step is to fill in the APY form
- Link it with your Mobile number or Aadhaar number
- Sufficient balance should be available in the linked savings account to recover the monthly contribution
For more information on the APY scheme, please visit:
Toll Free Number : 1800222080
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