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    Atal Pension Yojana (APY)

    Atal Pension
    • Atal Pension Yojana (APY) is the flagship guaranteed pension scheme floated by Government of India.
    • The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA)
    • It is a scheme designed especially for peoples in unorganized sector to encourage the habit of saving, for getting standard income in the form of pension after completion of 60 years of age.
    • The subscribers will receive minimum guaranteed pension of ₹1000/- or ₹2000/- or ₹3000/- or ₹4000/- or ₹5000/- per month after attaining the age of 60 years depending on the contributions made by the subscribers for their chosen pension amount.
    • 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.
    • All savings bank account holders are eligible to join this scheme.
    • Under the scheme, a subscriber can contribute for minimum period of 20 years or more and will start receiving the pension once they reach the age of 60 years.
    • The age of the subscriber should be between 18 and 40 years. (i.e. 18 years to 39 years 364 days)
    • APY contribution is also eligible for Income Tax Exemption up to ₹50,000/- under Sec.80CCD (1B) of Income Tax Act 1961 for the contribution made towards the scheme.
    • Income Tax payer can join in this scheme up to 30th September 2022.
    • Facility to change the personal details and Account number in their APY account.
    • Facility to change the Nominee in their APY account.
    • In case of demise of the subscriber during the scheme, spouse can either continue the contribution or exit the scheme.
    • If the spouse wants to continue the APY scheme after the demise of the subscriber, the spouse of the subscriber shall be entitled to receive the same pension amount as that of the subscriber, until the death of the spouse.
    • After the demise of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age 60 years of the subscriber.

    Click to download Subscriber's contribution Chart