Last Updated:July 06, 2025, 10:00 IST
Aimed at providing social security to workers in unorganised sector, the Atal Pension Yojana was introduced by the government in the Union Budget 2015-16.
Beneficiaries can get pensions between Rs 1,000 and Rs 5,000 per month under the Atal Pension Yojana after the age of 60. (Representative Image)
Atal Pension Yojana, introduced in the Union Budget 2015-16, is a government-backed social security programme for workers in the unorganised sector. The scheme offers a minimum monthly pension ranging from Rs 1,000 to Rs 5,000 to the beneficiaries after the age of 60. The pension can be received by the beneficiaries till death.
The pension amount depends on the contribution of the members enrolled under the APY scheme. Both the subscriber and spouse can get the pension benefits.
The APY scheme is managed by the Pension Fund Regulatory and Development Authority (PFRDA). It’s a voluntary contribution scheme.
Atal Pension Yojana: Benefits
The scheme has been designed to provide financial security to citizens, especially the workers in the unorganised sector, in their retirement years. The Central government guarantees a minimum payment of pension ranging Rs 1,000 to Rs 5,000 per month for the subscribers of the APY scheme.
After the demise of the subscriber, the spouse will also be entitled to receive the same amount as pension till death. After the demise of both the subscriber and the spouse, the pension fund, accumulated till the age of 60 years of the subscriber can be received by the nominee.
Eligibility
All Indian citizens in the age groups of 18 and 40 years are eligible to apply for the APY scheme. They must also possess an active mobile number along with a bank account linked to their Aadhaar.
The Yojana requires individuals to contribute towards the APY for a minimum of 20 years. Swavalamban Scheme beneficiaries, who have transitioned to the APY, are also eligible to be enrolled.
However, those paying income tax can’t apply for the APY scheme. This came into effect from October 1, 2022.
How To Apply
The eligible citizens can apply for the Atal Pension Yojana by obtaining the enrolment form from participating bank branches or downloading it directly from their official websites or the PFRDA. After filling in the details required inside the form, submit it to the bank along with a photocopy of the Aadhaar card. For ease of understanding and accessibility, the APY form is available in various regional languages. Upon approval, the applicants can get a confirmation message via SMS.
Here are a few simple steps to apply for the APY scheme:
Step 1: Collect the APY registration form from any participating bank’s branch or post office.
Step 2: Enter all necessary information, along with the bank account or post office savings account details. You can directly submit the form at the bank or the post office where you have a savings account.
Step 3: Ensure to fill in personal information, including your full name, date of birth and age as well as your mobile number, e-mail address and Aadhaar number, before submitting the form.
Sept 4: Married individuals will also have to provide their spouse’s name and age.
Step 5: All applicants need to assign a nominee and specify the relationship with them.
Step 6: Specify the desired monthly pension amount.
Step 7: Enter the date and location at the end of the form and also provide a signature or a thumb impression to certify that you understand the APY’s terms and conditions.
All the eligible beneficiaries can also apply for the scheme online through the website of the NPS Trust: https://npstrust.org.in/open-apy-account.
APY Calculator
An online APY calculator helps to get an estimate of the pension amount based on the monthly contributions. The monthly contribution amount can vary depending on the age of the subscriber at the time of registration. The monthly contributions under the APY scheme start at as low as Rs 42 for those enrolling at the age of 18.
For instance, if a member enrolls at the age of 18, for a monthly pension of Rs 5,000 the contribution required will be Rs 210 per month. Till the age of 60, the beneficiary will have to pay the amount for 42 years. The total investment will be Rs 1,05,840 and the corpus fund will grow to Rs 7,54,097.
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Delhi, India, India
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