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• Atal Pension Yojana to offer a defined pension, depending on the contribution and the period of contribution. Government to contribute 50% of the beneficiaries’ premium limited to Rs.1,000 every year, for 5 years, in the brand new accounts opened before thirty first December 2015.It focuses on the unorganized sector the place practically 400 million staff representing greater than eighty per cent of all workers are engaged. Atal Pension Yojana would provide a hard and fast minimum pension Rs.1000 to Rs.5000 per month beginning from the age of 60. The amount of pension will rely on the monthly contribution by the worker and the age at which the employee subscribes to the insurance coverage. In any case, the individual will have to subscribe beneath Atal Pension Yojana for a minimum of 20 years. The most important a part of this Scheme is co-contribution by authorities of Rs.1000/- per annum or 50% of the whole contribution whichever is lower, for the first 5 years if one joins the scheme earlier than the tip of the first 12 months of its launch, that is 31 December, 2015.
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