Atal Pension Yojana scheme is a pension scheme for people working in the unorganized sector. It is better to check the eligibility criteria before subscribing to the scheme
Eligibility criterion for the Atal Pension Yojana scheme are:
- Only an Indian citizen can join the Atal Pension Yojana scheme
- The age of the subscriber should be between 18 and 40 years
- The subscriber should have a savings bank account/ post office savings bank account. Applicants may provide Aadhaar and mobile number to the bank during registration if he/she wants receipts of periodic updates on their Atal Pension Yojana account. Aadhaar is not mandatory for enrolment.
- Contribution to the scheme has to be made for at least 20 years, to get the benefits
- If the subscriber is a part of any of the below social security scheme and a taxpayer, then they wouldn’t be entitled for government contribution:
- Employees’ Provident Fund and Miscellaneous Provision Act, 1952.
- The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
- Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
- Seamens’ Provident Fund Act, 1966.
- Jammu Kashmir Employees’ Provident Fund and Miscellaneous Provision Act, 1961.
- Any other statutory social security scheme.