ATAL Pansion Yojana APY

ATAL Pansion Yojana APY

The Atal Pension Scheme (APY) was launched by the Narendra Modi Government in the year 2015. This pension scheme India is mainly focused on the unorganized sector and investors can get a good amount back by investing a very small amount. One has to start investing in a pension plan between the ages of 18 and 40 to get a minimum monthly return. Thereafter he will continue to receive a monthly pension of Rs.1000 to Rs.5000 per month.

Government of India is concerned about the old age income security of the working poor and is focused on encouraging and enabling them to save for their retirement.

To address the longevity risks among the workers in unorganized sector and to encourage the workers in unorganized sector to voluntarily save for their retirement

ATAL Pansion Yojana APY

• The GoI has therefore announced a new scheme called Atal Pension Yojana (APY)1 in 2015-16 budget. The APY is focussed on all citizens in the unorganized sector.
• The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture.

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• Under the APY, there is guaranteed minimum monthly pension for the subscribers ranging between Rs. 1000 and Rs. 5000 per month.
• The benefit of minimum pension would be guaranteed by the GoI.
• GoI will also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower. Government co-contribution is available for those who are not covered by any Statutory Social SecuritySchemes and is not income tax payer.

• GoI will co-contribute to each eligible subscriber, for a period of 5 years who joins the scheme between the period 1st June, 2015 to 31st December, 2015. The benefit of five years of government Co-contribution
under APY would not exceed 5 years for all subscribers including migrated Swavalamban beneficiaries.
• All bank account holders may join APY.


APY offers choice of minimum monthly pension guaranteed by Govt. of India of Rs. 1000, Rs 2000, Rs 3000, Rs 4000 and Rs. 5000 per month after 60 years of age.
Subscriber should be a citizen of India. The Subscriber’s Age should be between 18 – 40 years for joining APY.
Subscriber can join APY through a bank branch/post-office (through Online/ Offline modes, as available).
It is mandatory to provide nomination and spouse details in APY account.
Contributions can be made on Monthly or Quarterly or Half yearly basis through auto debit facility from savings Bank account.

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Important information for subscriber:

Discontinuation of payments of contribution amount shall lead to following:
• After 6 months account will be frozen.
• After 12 months account will be deactivated.
• After 24 months account will be closed.

Subscriber should ensure that the Bank account to be funded enough for auto debit of contribution amount.


Exit :

On attaining the age of 60 years:
The exit from APY is permitted at the age with 100% annuitisation of pension wealth. On exit, pension would be available to the subscriber.

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In case of death of the Subscriber due to any cause: In case of death of subscriber pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.

Exit Before the age of 60 Years:
Exit before 60 years of age is not permitted however it is permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.

Information Brochure





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APY Mobile Application

 APY mobile application is available for APY users free of cost, where, recent 5 contributions can be checked and transaction statement and e-PRAN can also be downloaded anytime without paying any charge. Android users can download APY mobile application from Google play store by typing ‘APY and NPS Lite’ in search option.

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