ATAL PENSION YOJANA:
Atal Pension Yojana(APY), a pension scheme for citizens of India is focussed on the unorganized sector workers. It is one of the highly acclaimed social security scheme launched by Govt of India during 2015. It is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through the National Pension Scheme(NPS). . Under the APY, guaranteed minimum pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.
Ø The Applicant should be a Citizen of India and from an unorganised sector.
Ø The Applicant should be aged between 18 and 40.
Ø The Applicant should have a savings bank account/ post office savings bank account.
Ø The Aadhaar No of the applicant is preferred at the time of opening the APY account. However it is not mandatory for enrolment and the details can be provided later.
Ø The Applicant should provide a valid mobile no to the bank/post office which is mandatory.
Ø Aadhaar Card as KYC.
Ø Bank Account No/Post Office savings Account No.
Ø Valid Mobile Number.
Age of Entry
Years of Contribution
Monthly Contribution for Pension of Rs.1000/-
Monthly Contribution for Pension of Rs.2000/-
Monthly Contribution for Pension of Rs.3000/-
Monthly Contribution for Pension of Rs.4000/-
Monthly Contribution for Pension of Rs.5000/-
Ø Fixed pension by the Government ranging between Rs. 1000 to Rs. 5000 per month at the age of 60 years.
Ø Spouse will continue to draw pension in the event of death of Subscriber.
Ø Nominee to receive corpus up to Rs. 8,50,000/-# in case of death of both subscriber and spouse.
Ø Contribution to be remitted monthly through Auto Debit from linked Savings Bank Account.
Ø Govt. Of India will co-contribute* 50% of subscriber contribution or Rs. 1000 p.a. whichever is lesser for a period of 5 years.
Corpus Amount under Atal Pension Yojana:
Monthly Pension Amount to subscriber/spouse
Return of corpus amount to nominee
* If a subscriber opts for say, Rs 5,000 as the pension amount, in case of death of the subscriber, pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus (as indicated in the above table) would be returned to his / her nominee.