The central government has introduced the Atal Pension Yojana (APY) for unorganized workers. This will benefit millions of men and women who are unorganized workers in India. The main objective of the scheme is to improve the livelihood of the wage laborers. Apart from that, it is noteworthy that a large number of wage laborers in India are applying and benefiting from this scheme. In this article, we have provided you with complete information about this plan.
APY Pension Scheme
Generally, people working in state government, central government, and private sector, sectors get ESI, PF, etc. monthly from their salary which is finally paid as a pension. But due to the lack of facilities, the unorganized workers are suffering a lot. Indian Prime Minister Narendra Modi launched the ABY scheme to implement a pension scheme for unorganized workers as well. Unorganized workers who can do wage work can apply online from home for this scheme. The central government has said that this will improve the livelihood of crores of unorganized workers.
Who are Unorganized Workers?
Unorganized workers are self-employed or daily wage earners who do not work in the state government, central government or private sector.
Who is Eligible for the APY Pension Scheme?
Unorganized workers are those who are not working in the government and public sector.
- Unorganized workers between 18 to 40 years of age
- Carpenter
- Mason
- Auto driver
- A bundle lifter
- Tailor
- Cleaning staff
- A construction worker
- Heavy vehicle driver
Payment Method for APY Scheme
For example, if an unorganized worker who turns 18 joins the scheme and pays Rs 42 per month till the age of 60, after the age of 60, Rs 1,000 will be paid into his bank account. That means he will pay a total of Rs.21,168 in 42 years for a total of 504 months. Also, the central government is giving him Rs 1,48,832 free through this scheme and the total retirement pay is Rs 1.70 lakh.
Documents Required for APY Scheme
- Aadhar Card
- Mobile Number and Email
- Unorganized Workers Identity Card
- Photo
- Bank account details
How to Apply For APY Pension Scheme
You can apply for this scheme through the official website of the bank where you hold the account. Now let’s see how to apply on the official website of SBI Bank.
- First, go to the official State Bank of India website
- Click on the Login option which can be next to the Personal Banking option
- Next, click on the Continue to Login option
- Now enter your User ID Password and Login
- Now click on the E-service option and click on the More option
- Now click on the Social Security Schemes option
- Please select the options now
- Enter all personal details of unorganized workers
- Enter home address
- Choose the desired monthly payment amount
- Finally, submit