The Atal Pension Yojana (APY) is a government-backed pension scheme in India
that aims to provide a simple and affordable retirement solution for the unorganized
Launched by the Government of India in 2015, APY has gained popularity due to its
attractive features and benefits.
The objective of this scheme is to provide pension coverage and financial security to
workers in the unorganized sector who do not have access to formal pension
What is Atal Pension Yojana?
Atal Pension Yojana is a pension scheme designed for workers in the unorganized
sector, such as maids, drivers, gardeners, and small-scale entrepreneurs.
It is administered by the Pension Fund Regulatory and Development Authority
(PFRDA) and is available to all individuals between the ages of 18 and 40.
Under APY, individuals between the ages of 18 and 40 can enroll in the scheme. The
scheme provides a fixed pension amount to the persons after they reach the age of
The minimum and maximum pension amounts under APY are Rs. 1,000 and Rs.
5,000 per month, respectively.
Eligibility and Enrollment
To be eligible for APY, individuals must be citizens of India and lie within the age
group of 18 to 40 years.
They should have a valid bank account and should not be covered under any other
statutory social security schemes.
Enrollment in APY can be done through banks, post offices, and the online portal of
the National Pension System (NPS).
Eligibility of PM Atal Pension Yojana
- The applicant must have a savings bank account with a bank that is registered with the Pension Fund Regulatory and Development Authority (PFRDA).
- Any citizen of India who is between the ages of 18 and 40 years is eligible to join APY.
- The applicant must not be a member of any other government pension scheme.
- The applicant must provide their Aadhaar number and mobile number to the bank at the time of enrollment.
Enrollment Process of PM Atal Pension Yojana
- The applicant can also enroll online through the official website of APY or through the mobile app of the scheme.
- Based on the chosen pension amount and the age of entry, the applicant will have to pay a monthly contribution amount ranging from Rs. 42 to Rs. 210 for Rs. 1000 pension and from Rs. 210 to Rs. 1054 for Rs. 5000 pension.
- The applicant will receive an acknowledgment slip or an electronic receipt after successful enrollment.
- The applicant can choose the monthly pension amount he/she wants to receive after attaining 60 years of age. The pension amount can be Rs. 1000, Rs. 2000, Rs. 3000, Rs. 4000, or Rs. 5000 per month.
- The contribution amount will be automatically deducted from the applicant’s bank account or post office account every month.
- The applicant will also receive periodic updates on his/her APY account through SMS or email.
Atal Pension Yojana is a simple and efficient retirement solution for individuals working in the unorganized sector.
It offers a secure and guaranteed pension and tax benefits.
By enrolling in APY, individuals can ensure a financially stable retirement and enjoy their golden years without any worries.
As we all know, The government is right on its track to achieve its motto of “Sabka Saath, Sabka Vikaas“
The social security scheme like Atal Pension Yojana is a very comprehensive step needed to expand the security net of senior citizens.
If you also want wish to register or need to know more information about it, apply for Digital Seva Kendra is at the forefront of providing this facility to you.