Atal Pension Yojana (APY)

Government of India guarantees a minimum monthly pension for subscribers ranging from Rs. 1,000 to Rs. 5,000 per month after the person attains 60 years of age. Monthly payment amount for pension plan depends on the age of joining the scheme.

This scheme is administered by Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture and is distributed through banks. One person is allowed to have only one pension account opened under the scheme. Only person with accounts with the Bank and their mobile number registered in the account can enroll for the scheme. Aadhaar number would be preferred KYC, but not mandatory

Monthly payment is auto debited to the account, once APY form is registered in the system.

• The Government also co-contributes 50% of subscriber’s contribution or Rs.1,000/- per annum, whichever is lower for all subscribers registered from 1st June to 31st Dec '15, for a period of 5 years from FY 2015-16 to 2019-20.
• This contribution is available for only those who are not (a) covered by any Statutory Social Security Scheme and (b) is not an income tax payer.

The scheme is open for all between the age of 18-40 years and pension payment starts at the age of 60 years.

Click here to view the APY statement.