Atal Pension Yojana Scheme – Centre has Change in eligibility! Full Details Here!!! Atal Pension Yojana is a government backed pension scheme which run by the Government of India. The central government has announced some changes in the Atal Pension Yojana scheme like it’s eligibility and other. This new rule is come to effective on October 1.
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As per the announcement if a subscriber who joined in the Atal Pension Yojana scheme on or after October 1 is found to have been an income-tax payer the APY account shall be closed and the pension would be given to the subscriber till date. According to a notification issued by the Union Finance Ministry in this regard, the total number of subscribers to National Pension Scheme (NPS) and Atal Pension Yojana (APY) as on June 4 is 5.33 crore. Thus, under the new rule now notified that, the expression ‘income tax payer’ shall mean a person liable to pay income tax under the Income Tax Act, 1961 as amended from time to time.
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Now all the Indian citizens between 18 to 40 years of age can open an account in the bank or post office branches where they have a savings bank account to avail this pension scheme of the central government. In this scheme, the subscribers at the age of 60 years will get monthly pension from Rs.1,000 to Rs. 5,000. In case of death of subscriber due to any reason his wife or husband will get pension. If both the subscriber and the spouse die, the pension corpus will be returned to his nominee. Apart from this, 100 percent annuity of pension is available on exit from Atal Pension Yojana.
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