Atal Pension Yojana (APY)

learn more about the new atal pension scheme of pfrda
Atal Pension Yojana (APY)

Learn more about the exclusive Atal Pension Yojana Scheme.

Atal Pension Yojana (APY) is a formal pension scheme which would benefit people when they are 60 years old. This scheme is mainly for workers in unorganized sector, which will encourage the habit of saving for their retirement. The scheme will be administered by the Pension Fund Regulatory and Development Authority (PFRDA) and replace the previous government's Swavalamban Yojana NPS Life.

Major Points of the scheme:

  • The subscribers who will join the scheme would receive the fixed pension of Rs. 1,000.00 per month, Rs. 2,000.00 per month, Rs. 3,000.00 per month, Rs. 4,000.00 per month, Rs. 5,000.00 per month, at the age of 60 years, depending on their contributions.
  • The minimum age of joining this scheme is 18 years and maximum age is 40 years.
  • Under the scheme, a subscriber can contribute for minimum period of 20 years or more and pension payment will start at the age of 60 years.
  • Under the scheme government of India will co-contribute 50% of the subscriber's contribution or Rs. 1,000.00 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers.
  • All bank account holders under the eligible category may join the scheme with auto-debit facility to accounts, leading to reduction in contribution collection of charges.
  • Subscribers who will join the scheme before December 31, 2015, can avail the benefit of government's co-contribution under the scheme.
  • Subscribers who are already enrolled in Swavalamban Scheme (Pension Scheme meant for Un-organized Sector) would be automatically migrated to Atal Pension Yojana, unless they opt out.

Atal Pension Yojana:

A Game Changer - APY is for pensioned society from pension less society.

A pension provides people with a monthly income when they are no longer earning. Currently only 12% of India's Population namely Government Employees and Bank Employees are provided with pension benefits. Old Age Protection through Pension is need of the hour. Pension ensures peaceful life of aged people and makes old age people to live their life independently without depending others for their livelihood.

TMB is authorized Point of Presence Service Provider to handle the opening of Pension Account and handling the subscription.

Note: Proposal Form is provided in the website with a facility to down load them by the customers. The filled in and signed forms can be sent by the customers by post or courier to the home branch or else the customer has to go personally or through any third party to the Home Branch and deliver the filled in application form to them to enroll under the scheme.

Benefits, Features & Monthly Contribution Chart (Click to Zoom):

Click for Larger Image Size - Benefits, Features & Monthly Contribution Chart

AYP Documents for Download:

Download the Application Form: