Atal Pension Yojana (APY)

Atal Pension
  • 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.
  • 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. 4,000.00per 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 39 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
  • 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 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.
  • APY Contribution is also eligible for Income Tax Exception up to ₹ 50000 under Sec. 80CCD (1B)of Income tax act ,1961.
  • Facility to change their personal details, Account number in APY by subscriber themselves .
  • Spouse gets same amount of pension after subscriber’s death.
  • Upon death of spouse ,the nominee will gets back pension wealth ranging between Rs. 1,70,000/-and-Rs. 8,50,000/-.

Click to download Subscriber's contribution Chart