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Husband & Wife Can Get Rs 10,000 per Month through Atal Pension Yojana

M Kanika
M Kanika
Atal Pension Yojana
Atal Pension Yojana

Now husband & wife both can get Rs 10,000 per month as a pension. All they need to do is to register themselves under Atal Pension Yojana. The Pension Fund Regulatory & Development Authority said “For availing the higher pensions up to Rs 10,000 both husband & wife can join the Atal Pension Yojana (APY) for Rs 5,000 pension amount”.  Atal Pension Yojana is a pension scheme mainly for the unorganized sector like workers, maids, gardeners & poor people.

Benefits of Atal Pension Yojana 

  • The Atal Pension Yojana is focused on all the citizens in unorganized sector. 

  • The pension scheme is administered by the Pension Fund Regulatory & Development Authority through the NPS architecture. 

  • Under the pension scheme, there is guaranteed minimum monthly pension for subscribers ranging between Rs 1,000 & Rs 5,000 per month. 

  • The central government also co-contribute 50% of subscriber’s contribution or Rs 1,000 per annum, whichever is lower. 

  • Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes & is not income tax payer. 

  • All bank account holders can join the Atal Pension Yojana, Pension Fund Regulatory & Development Authority stated in its brochure. 

  • Husband & wife need to age between 18 & 40 years. This will ensure collective pension of Rs 10,000 per month for couple after the age of 60 years. 

  • Husband & wife aged 30 or younger can make a contribution of Rs 577 per month in their respective Atal Pension Yojana accounts. 

  • More than one family member can apply for Pension Fund Regulatory & Development Authority. 

  • Premature payments of pension & exit from Atal Pension Yojana is not allowed, except in crucial situations such as terminal disease or the death of account holder. 

  • Subscribers can contribute as less as Rs 210 per month till the age of 60 years.

  • Both husband & wife must have the savings bank account, which is linked to their Aadhar & a valid mobile number. 

  • Other than a guaranteed monthly pension, the spouse of the Atal Pension Yojana subscriber will receive upto Rs 8.5 lakh upon death of the subscriber. Also, the surviving spouse will continuously receive the monthly pension for the rest of their life. 

Below is the Indicative Monthly Contribution Chart 

Age of Entry 

Monthly Pension of Rs 1000. 

Monthly Pension of Rs 2000. 

Monthly Pension of Rs 3000. 

Monthly Pension of Rs 4000. 

Monthly Pension of Rs 5000. 

18 

42 

84 

126 

168 

210 

20 

50 

100 

150 

198 

248 

25 

76 

151 

226 

301 

376 

30 

116 

231 

347 

462 

577 

35 

181 

362 

543 

722 

902 

40 

291 

582 

873 

1164 

1454 

How to Register for Atal Pension Yojana -?

  • As all nationalized banks in India provide this scheme, you can visit any of these banks to open your APY account.

  • Atal Pension Yojana forms are also available online hence you can download the form from the official website. Banks like SBI, ICICI, and Axis are also offering online registrations for this scheme.

  • The forms are available in many languages like Hindi, English, Gujarati, Kannada, Marathi, Bangla, Odia, Tamil & Telugu.

  • Fill up the application form & submit it to your bank.

  • Give a valid mobile number.

  • Submit a photocopy of Aadhaar card.

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