Atal Pension Yojana
A guaranteed pension scheme for workers in the unorganised sector, offering ₹1,000 to ₹5,000 per month after the age of 60.
Overview
Atal Pension Yojana provides a guaranteed monthly pension to subscribers after they turn 60.
It targets workers in the unorganised sector who lack access to formal pension arrangements.
Subscribers choose a pension amount and pay a small contribution based on their age at entry.
Eligibility Criteria
- Any Indian citizen between 18 and 40 years of age with a savings bank account.
- The subscriber should not be an income-tax payer to join (as per current rules).
- Aadhaar and a mobile number are recommended for enrolment.
Key Benefits
- Guaranteed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000 or ₹5,000 after age 60.
- The same pension continues to the spouse after the subscriber's death.
- The nominee receives the accumulated corpus, ensuring family security.
Required Documents
How to Apply
- 1Approach your bank or post office where you hold a savings account.
- 2Fill in the APY registration form and choose your desired pension amount.
- 3Authorise auto-debit of contributions from your savings account.
- 4Receive your PRAN and start contributing until the age of 60.
Important Dates
| Scheme launched | May 2015 |
|---|---|
| Pension starts | At age 60 |
Frequently Asked Questions
Common questions about APY.
You can choose a guaranteed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000 or ₹5,000 after the age of 60, based on your contributions.
The same pension is paid to the spouse, and after both, the accumulated corpus is returned to the nominee.
Related Schemes
National Pension System
A voluntary, long-term retirement savings scheme regulated by PFRDA that builds a pension corpus with market-linked returns and tax benefits.
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