APY full form is Atal Pension Yojana. It was launched on May 9, 2015, with the goal of creating a universal social security system for all Indians, particularly the poor, underprivileged, and unorganised sector workers.
Up to Rs.5000
18 years – 40 years
Minimum 20 years
Objectives of APY
To provide a guaranteed pension to workers in the unorganized sector
APY encourages people to start saving for their retirement early in life by contributing a small amount every month.
APY seeks to provide social security to the elderly by providing a regular pension after retirement.
You must contribute to the APY scheme for a minimum of 20 years.
Atal Pension Yojana is a pension scheme that provides social security to workers in the unorganised sector and encourages them to save for their retirement. With a small monthly contribution, subscribers can secure a guaranteed pension and reduce their dependence on the government for social security. APY promotes financial inclusion and a culture of savings among people.
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