OPENPension & Insurance
Atal Pension Yojana (APY) — Guaranteed ₹1,000 to ₹5,000 Monthly Pension
APY is a Government-backed pension scheme for unorganised sector workers, offering guaranteed monthly pension of ₹1,000 to ₹5,000 after age 60.
Benefit
Guaranteed pension ₹1,000 / 2,000 / 3,000 / 4,000 / 5,000 per month after 60
Ministry
Ministry of Finance / PFRDA
Beneficiaries
7+ crore subscribers
Overview
- ✦APY is administered by PFRDA through any bank or post office with a savings account.
- ✦Contribution is auto-debited monthly/quarterly/half-yearly from the linked savings account.
- ✦Spouse continues to receive same pension after subscriber's death; corpus is returned to nominee after spouse.
Eligibility Criteria
- ✦Indian citizen aged between 18 and 40 years
- ✦Must have a savings bank account or post office savings account
- ✦Should have Aadhaar and a mobile number
- ✦Income-tax payers are NOT eligible to join APY (since October 2022)
Not sure if you qualify?
Answer a few quick questions and get an instant eligibility score for this scheme.
Start Eligibility Check →Required Documents
- ✦Aadhaar Card
- ✦Bank account passbook
- ✦Mobile number
- ✦Nominee details (and spouse details if married)
- ✦Self-declaration that you are not an income-tax payer
How to Apply
- 1Visit your bank branch / post office where you have a savings account
- 2Fill the APY registration form (also available online at npscra.nsdl.co.in)
- 3Choose pension amount (₹1,000 to ₹5,000) and contribution frequency
- 4Provide Aadhaar, mobile and nominee details
- 5Auto-debit mandate signed — contributions start immediately
- 6Receive PRAN (Permanent Retirement Account Number)
Important Dates
Open throughout the year. Earlier you join, lower your monthly contribution.
Frequently Asked Questions
How much should I contribute for ₹5,000 pension?
If you join at age 18, only ₹210/month is needed; if you join at age 40, around ₹1,454/month. Earlier you join, lower the contribution.
Can income tax payers join APY?
No, since 1 October 2022, income tax payers are not allowed to enroll in APY.
What happens if I miss a contribution?
Penalty is charged (₹1 per ₹100 of premium per month). If account remains unfunded for 6+ months, it may be frozen.