Atal Pension Yojana
Atal Pension Yojana (APY) is a government-sponsored pension scheme that is meant to provide old-age income security to the working poor in India. It is an extension of the National Pension Scheme and was introduced by the Government of India in 2015-16. The scheme is open to all citizens of India aged 18-40. It is designed to encourage saving for retirement. A subscriber can set up a savings account linked to his or her APY account. Once the account is registered in the system, it is auto-debited monthly. Subscribers can also increase or decrease the amount of their pension once a year. Previously, subscribers had to make a lump sum contribution. However, with the launch of APY, the government of India has come up with the option of making contributions through an automated debit. This option reduces contribution collection charges. In addition, the government has announced that it will co-contribute up to 50% of the subscriber's total contribution amount. When you are applying for...