Dear Members,
I would be very thankful for your guidance -
1. Is it possible to draw two pensions at a time by investing voluntarily in NPS (New/National Pension Scheme/System) Tier 1 and through EPS of EPFO already subscribed?
2. Will a person be eligible for Widow pensions from above NPS-1 and EPF if he/she has voluntarily subscribed for pensions from Atal Pension Yojna ?
Thanks & Regards
Ranjit
From India, Chandigarh
I would be very thankful for your guidance -
1. Is it possible to draw two pensions at a time by investing voluntarily in NPS (New/National Pension Scheme/System) Tier 1 and through EPS of EPFO already subscribed?
2. Will a person be eligible for Widow pensions from above NPS-1 and EPF if he/she has voluntarily subscribed for pensions from Atal Pension Yojna ?
Thanks & Regards
Ranjit
From India, Chandigarh
In point 2. my question is - Will a person get three pensions at-a-time if he/she enrolled in Atal Pension Yojna for pension and Widow/Widower pensions from NPS and EPF (as mentioned in point 1) if death of his/her spouse who is enrolled in NPS and EPF both.
From India, Chandigarh
From India, Chandigarh
Pension from NPS is not pension in the real sense.
It is an annuity which subscriber has to buy when he reaches maturity age(60).
Annuity will be taxable also.
Pensions from other sources have no connection with NPS pension.
From India, Pune
3131It is an annuity which subscriber has to buy when he reaches maturity age(60).
Annuity will be taxable also.
Pensions from other sources have no connection with NPS pension.
From India, Pune
Dear friends,
In the above three pension schemes, pension is not an additional benefit; but return/compensation for the investment of the member. Hence one scheme may not deny benefit from other schemes.
Abbas.P.S
From India, Bangalore
In the above three pension schemes, pension is not an additional benefit; but return/compensation for the investment of the member. Hence one scheme may not deny benefit from other schemes.
Abbas.P.S
From India, Bangalore
It is govt. rule that if you taken benefit of any govt. pension scheme then we will not be eligible for Atal pension scheme. You can opt for either EPF or Atal pension scheme.
From India, Gurgaon
From India, Gurgaon
Salient features of Atal Pension Yojana:
xxxxx
Government Contribution:
Early birds who opens the Atal Pension Yojana account before 31st December, 2015 will get benefit of Government contribution up to 50% of the subscriber contribution which is restricted to Rs.1,000 per year for 5 years i.e. from 2015-16 to 2019-20.
Further, the benefit of Government Contribution would be given to the subscribers who are not covered by any other social security scheme as listed below and are not income taxpayers.
Employees’ Provident Fund & Miscellaneous Provision Act, 1952.
The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
Seamens’ Provident Fund Act, 1966.
Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act, 1961.
Any other statutory social security scheme
So, if you are covered under any of the above stated social security scheme such as EPF, you would still apply for Atal Pension Yojana but benefit of Government Contribution would not be available to you and you have to make whole contributions by yourself. .......
Read more from:
http://simpleinterest.in/atal-pension-yojana/
http://financialservices.gov.in/jansuraksha/APY_FAQs.pdf
From India, Bangalore
xxxxx
Government Contribution:
Early birds who opens the Atal Pension Yojana account before 31st December, 2015 will get benefit of Government contribution up to 50% of the subscriber contribution which is restricted to Rs.1,000 per year for 5 years i.e. from 2015-16 to 2019-20.
Further, the benefit of Government Contribution would be given to the subscribers who are not covered by any other social security scheme as listed below and are not income taxpayers.
Employees’ Provident Fund & Miscellaneous Provision Act, 1952.
The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
Seamens’ Provident Fund Act, 1966.
Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act, 1961.
Any other statutory social security scheme
So, if you are covered under any of the above stated social security scheme such as EPF, you would still apply for Atal Pension Yojana but benefit of Government Contribution would not be available to you and you have to make whole contributions by yourself. .......
Read more from:
http://simpleinterest.in/atal-pension-yojana/
http://financialservices.gov.in/jansuraksha/APY_FAQs.pdf
From India, Bangalore
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