Atal Pension Yojana: Government is going to make major changes in Atal Pension Yojana from 1st October 2022. For this, a new notification has been issued by the Ministry of Finance, after which now the income tax payer will not be able to invest in Atal Pension Yojana.
With the aim of providing pension facility to the people working in the unorganized sector, the government had started the Atal Pension Yojana, in which the government is going to make a big change from October 1, 2022. The Central Government has amended the investment rules of Atal Pension Yojana, after which Income Taxpayers i.e. income tax payers will not be able to invest in ‘Atal Pension Yojana’. This change in ‘Atal Pension Yojana’ will be applicable from October 1.
While issuing a notification regarding the ‘Atal Pension Yojana’, the Finance Ministry said that from October 1, 2022, no taxpayer will be eligible to invest in APY. If any taxpayer opens an account in Atal Pension Yojana after October 1, 2022, then after scrutiny such account will be closed and till that time the money deposited in Atal Pension Yojana will be transferred to the customer’s account.
Will help in preventing misuse of ‘Atal Pension Yojana’
At the time of the launch of ‘Atal Pension Yojana’, the central government had said that through this scheme people working in the unorganized sector would get financial assistance. The government had told in the beginning of this scheme that this scheme is for the people of low income group. The investment expert said that with this step of the government, genuinely eligible people will be able to get the benefit of this scheme. It is a social security scheme, which is meant for low income people. After this notification of the Finance Ministry, it will help in preventing the misuse of this social security scheme.
Minimum guaranteed pension is available in Atal Pension Yojana
According to the investment of the investors of Atal Pension Yojana, minimum guaranteed pension is available after the age of 60 years. However, through this scheme, a person can get guaranteed pension ranging from Rs 1 thousand to Rs 5 thousand only. In this scheme, the investment amount is decided according to the return. At the same time, after the death of the person investing in this scheme, the nominee made by him gets his money.
‘Atal Pension Yojana’ launched in 2015
The ‘Atal Pension Yojana’ is being operated by the pension regulator PFRDA, which was started in the year 2015. This scheme was mainly started for people working in the unorganized sectors, but any Indian citizen of 18 to 40 years can invest in this scheme.
