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Big change in Atal Pension Yojana: Income tax payers will not be able to join from October 1, know changes details 

Big change in Atal Pension Yojana: Income tax payers will not be able to join from October 1, know changes details

 

There has been a big change in the Modi government’s most popular scheme Atal Pension Yojana (APY). Taxpayers will not be able to join this scheme from October 1. Recently, this was informed in a notification issued by the government.

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Atal Pension Yojana: There has been a big change in the most popular scheme of Modi government, Atal Pension Yojana (APY). Taxpayers will not be able to join this scheme from October 1. Recently, this information has been given in a notification issued by the government. The latest amendment states that with effect from October 1, 2022, any citizen who is or has been an income tax payer will not be eligible to join the Atal Pension Yojana (APY). As per PFRDA data, the total number of subscribers under Atal Pension Yojana grew by 32.13 per cent to 312.94 lakh as of September 30, 2021. The share of public sector banks among the subscribers of the scheme is more than 2.33 crore.

Account will be closed

According to the new amendment, if a taxpayer becomes a part of Atal Pension Yojana on or before October 1, 2022, then his account will be closed and his entire money will be returned.

What is Atal Pension Yojana?

Any Indian citizen in the age group of 18-40 years can join under Atal Pension Yojana. Under this scheme, after the age of 60, there is a provision of pension from Rs 1000 to Rs 5000. The amount of pension depends on your contribution.

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