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Atal Pension Yojana (APY)

Atal Pension Yojana (APY) addresses the old age income security of the working poor and the longevity risks among the workers in unorganised sector. It encourages the workers in unorganised sector to voluntarily save for their retirement. The Government had launched the scheme with effect from 1st June, 2015. The scheme replaces the Swavalamban Yojana / NPS Lite scheme.

Benefits of APY

  • Fixed pension for the subscribers ranging between Rs.1000 to Rs. 5000, if s/he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if s/he joins late.
  • The same pension is payable to Spouse after death of Subscriber.
  • Return of indicative pension wealth to nominees after death of spouse.
  • Contributions to the Atal Pension Yojana (APY) is eligible for tax benefits similar to the National Pension System (NPS). The tax benefits include the additional deduction of Rs 50,000 under section 80CCD(1).

Eligibility for APY

Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme.

Any individual who is eligible to receive benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication. An APY subscriber will have to get the Aadhaar number recorded in his or her APY pension account and also in his/ her savings account where the periodic pension contribution instalments are debited and government co-contribution is to be credited.

Age of joining and contribution period

The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

Focus of APY

Mainly targeted at unorganised sector workers.

Enrollment and Subscriber Payment

All bank account holders under the eligible category may join APY with auto-debit facility to accounts, leading to reduction in contribution collection charges.

Enrollment agencies

All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enroll subscribers through architecture of National Pension System.

Operational Framework of APY

It is Government of India Scheme, which is administered by the Pension Fund Regulatory and Development Authority. The Institutional Architecture of NPS would be utilised to enroll subscribers under APY.

Funding of APY

Government would provide

  • fixed pension guarantee for the subscribers;
  • Under the APY, the Central Government’s co-contribution of 50% of the subscriber’s contribution upto Rs. 1000 per annum, was available to each eligible subscriber, for a period of 5 years, i.e. from 2015-16 to 2019-20, who join APY before 31st March, 2016 and who is not a beneficiary of any social security scheme and is not an income tax payer.
  • Government would also reimburse the promotional and development activities including incentive to the contribution collection agencies to encourage people to join the APY.

Age of Joining, Contribution Levels, Fixed Monthly Pension and Return of Corpus to the nominee of subscribers

The Table of contribution levels, fixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below. For example, to get a fixed monthly pension between Rs. 1,000 per month and Rs. 5,000 per month, the subscriber has to contribute on monthly basis between Rs. 42 and Rs. 210, if he joins at the age of 18 years. For the same fixed pension levels, the contribution would range between Rs. 291 and Rs. 1,454, if the subscriber joins at the age of 40 years.

Table of contribution levels, fixed monthly pension of Rs. 1,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of JoiningYears of ContributionIndicative Monthly Contribution(in Rs.)Monthly Pension to the subscribers and his spouse (in Rs.)Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
1842421,0001.7 Lakh
2040501,0001.7 Lakh
2535761,0001.7 Lakh
30301161,0001.7 Lakh
35251811,0001.7 Lakh
40202911,0001.7 Lakh

Table of contribution levels, fixed monthly pension of Rs. 2,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana.

Age of JoiningYears of ContributionIndicative Monthly Contribution(in Rs.)Monthly Pension to the subscribers and his spouse (in Rs.)Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
1842842,0003.4 lakh
20401002,0003.4 lakh
25351512,0003.4 lakh
30302312,0003.4 lakh
35253622,0003.4 lakh
40205822,0003.4 lakh

Table of contribution levels, fixed monthly pension of Rs. 3,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana.

Age of JoiningYears of ContributionIndicative Monthly Contribution(in Rs.)Monthly Pension to the subscribers and his spouse(in Rs.)Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
184212630005.1 Lakh
204015030005.1 Lakh
253522630005.1 Lakh
303034730005.1 Lakh
352554330005.1 Lakh
402087330005.1 Lakh

Table of contribution levels, fixed monthly pension of Rs. 4,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana.

Age of JoiningYears of ContributionIndicative Monthly Contribution(in Rs.)Monthly Pension to the subscribers and his spouse(in Rs.)Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
184216840006.8 Lakh
204019840006.8 Lakh
253530140006.8 Lakh
303046240006.8 Lakh
352572240006.8 Lakh
4020116440006.8 Lakh

Table of contribution levels, fixed monthly pension of Rs. 5,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana.

Age of JoiningYears of ContributionIndicative Monthly Contribution (in Rs.)Monthly Pension to the subscribers and his spouse (in Rs.)Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
184221050008.5 Lakh
204024850008.5 Lakh
253537650008.5 Lakh
303057750008.5 Lakh
352590250008.5 Lakh
4020145450008.5 Lakh

For more information, contact APY Information Desk - Call Centre: 1800 110 069

Source: National Pension System Trust

Related resources

  1. FAQs on APY
  2. APY calculator
  3. Forms related to APY


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