- Decreased income earning potential with age.
- The rise of nuclear Family
- Migration of earning members.
- Rise in cost of living.
- Increased longevity.
- Dignified life in the old age due to less financial dependence.
Airtel Payments Bank enables you to subscribe for APY. You can complete the journey on AirtelThanks app or you can visit to our nearest retailer.
The prospective applicants may provide mobile number to the bank during their Enrolments under APY to receive periodic updates on their APY account as well as on APY scheme. Aadhaar may also be provided at the time of enrolment as APY scheme is notified for the same.
The benefit of minimum pension under Atal Pension Yojana would be guaranteed by the Government in the sense that if the actual realized returns on the pension contributions are less than the assumed returns for minimum guaranteed pension, over the period of contribution, such shortfall shall be funded by the Government. On the other hand, if the actual returns on the pension contributions are higher than the assumed returns for minimum guaranteed pension, over the period of contribution, such enhanced scheme benefits shall be passed on to the subscribers.
The Government of India had co-contributed 50% of the total contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber, who joined the scheme during the period 1st June, 2015 to 31st March, 2016 and who is not a beneficiary of any social security scheme and is not an income tax payer. The Government co-contribution will be given for 5 years from the Financial Year 2015-16 to the Financial Year 2019-20.