Atal Pension Yojana Detail

1. Government Scheme: APY is a government-backed pension scheme in India for financial security after retirement.

2. Target Audience: Primarily aimed at the unorganized sector workforce, but any Indian citizen (18-40 years) can join.

3. Guaranteed Pension: Receive a minimum monthly pension of Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000, or Rs. 5,000 upon reaching 60 (depending on your contribution).

4. Government Co-contribution: Get a government boost to your savings if you join before 30 (conditions apply).

5. Tax Benefits: Enjoy tax deductions under Section 80CCD of the Income Tax Act for your APY contributions.

6. Long-term Investment:  The accumulated amount matures at 60 years (except in special cases).

7. Contribution Flexibility: Choose a contribution amount that suits your budget (minimums vary based on the chosen pension plan).

8. Simple Enrollment: Enroll easily at your bank or post office branch with minimal documentation.

9. Spousal Benefit: In case of the subscriber's death, the spouse receives the same pension amount.

10. Nominee Benefit: If both subscriber and spouse pass away, the nominee receives the accumulated pension corpus.