Atal Pension Yojana Kya Hai

Atal Pension Yojana Kya Hai

Atal Pension Yojana (APY) is a pension scheme in India designed for unorganized sector workers, providing a guaranteed minimum monthly pension at the age of 60. Here are key details about APY:

Eligibility Criteria:

  • Age: 18 to 40 years.
  • Savings Bank Account: Must have a savings bank account in a post office or a bank.
  • Aadhaar and Mobile Number: While not mandatory, providing Aadhaar and a mobile number facilitates communication.

Government Contribution:

  • Co-contribution is available for subscribers joining between June 1, 2015, and March 31, 2016, not covered by other social security schemes.
  • The government co-contributes 50% of the total contribution or Rs 1000 per annum, whichever is lower, for 5 years.


  • Guaranteed minimum pension by the government.
  • Government co-contribution enhances scheme benefits.
  • Excess returns on contributions credited to the subscriber’s account.

Opening an APY Account:

  1. Contact the bank or post office where you have a savings account.
  2. Provide account details and fill the APY registration form.
  3. Provide Aadhaar and mobile number for communication.
  4. Maintain the required balance for contributions.

Contribution Process:

  • Contributions can be monthly, quarterly, or half-yearly.
  • Auto debit from the savings account/post office account.
  • Default results in overdue interest, and the bank charges Rs 1 per month of delay for every Rs 100.

Withdrawal Process:

  • At 60 years: Guaranteed minimum monthly pension or higher withdrawal.
  • Death after 60 years: Pension payable to the spouse; on both deaths, the accumulated pension wealth is eligible for withdrawal.
  • Exit before 60: Refund of subscriber’s contribution minus earnings and charges; government’s co-contribution not refunded.

Other Important Facts:

  • Nomination is mandatory; spouse is the default nominee.
  • Only one APY account per customer.
  • Subscriber can change pension amount once a year.
  • Regular SMS alerts and an annual physical statement are provided.
  • Auto debit can continue seamlessly after a change of residence.
  • The scheme is for Indian citizens only.

These details encompass the key aspects of Atal Pension Yojana, providing a comprehensive understanding of its features, eligibility, benefits, and processes.

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