Retirement · Pension · Government Scheme
Atal Pension Yojana (APY)
A Government of India pension scheme designed to provide a defined minimum monthly pension to eligible subscribers from age 60.
₹1K–₹5K Pension
Defined minimum monthly pension from age 60.
Govt-Backed
Government pension scheme under PFRDA framework.
From Age 60
Pension begins after the subscriber reaches 60.
Spouse Benefit
Pension benefits continue to spouse under scheme rules.
Flexible Pay
Monthly, quarterly or half-yearly contributions.
Overview
What is Atal Pension Yojana?
Atal Pension Yojana (APY) is a Government of India pension scheme that provides a defined minimum monthly pension after age 60. Eligible subscribers contribute regularly and choose a pension of ₹1,000 to ₹5,000 per month.
Guaranteed Minimum Pension
| Selected Pension | Pension Starts |
|---|---|
| ₹1,000 / month | Age 60 |
| ₹2,000 / month | Age 60 |
| ₹3,000 / month | Age 60 |
| ₹4,000 / month | Age 60 |
| ₹5,000 / month | Age 60 |
Pension amount depends on the selected slab and required contributions.
Eligibility
Who Can Enrol?
- Indian citizens aged 18 to 40 years
- Must have a savings bank or Post Office savings account
- New income-tax payers are not eligible from 1 October 2022
- Existing subscribers who joined before 30 September 2022 can continue
- Contribution depends on age and selected pension amount
KYC
Documents Required
- Savings Bank or Post Office account details
- Identity and KYC documents as required
- Proof of age, where required
- Aadhaar, where applicable
- Mobile number and nominee details
Contribution
How APY Contributions Work
Contribution depends on age
The required contribution depends on your age when joining and the pension amount selected. Joining younger generally means a lower periodic contribution.
Flexible frequency
Contributions can generally be made monthly, quarterly or half-yearly through automatic debit from the linked savings account.
Key Benefits
Why Consider APY?
- Defined minimum monthly pension from age 60
- Pension options ranging from ₹1,000 to ₹5,000 per month
- Spouse pension benefit under applicable scheme rules
- Nominee benefit after the death of subscriber and spouse
- Account is portable across India
Important Update
Government Co-Contribution
The earlier government co-contribution benefit is not available to new APY subscribers. The earlier benefit applied only to eligible subscribers who joined during the specified initial enrolment period.
Where to Enrol
Banks & Post Offices
Eligible individuals can generally enrol through banks or Post Offices where APY facilities are available.
PFRDA — Atal Pension Yojana →Things to Know
Before You Join
- New subscribers must be between 18 and 40 years of age
- Income-tax payers cannot open a new APY account from 1 October 2022
- Contributions generally continue until the subscriber reaches age 60
- Contribution amount is higher when joining at an older age
- New subscribers do not receive the earlier government co-contribution
- Premature exit is subject to applicable APY scheme rules
Is APY right for your retirement goal?
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