Atal Pension Yojana — ₹1,000–₹5,000 Monthly Pension

What is Atal Pension Yojana?

Atal Pension Yojana (APY) is a central government pension scheme for workers in the unorganised sector. If you contribute a small amount every month from age 18 to 40, you will receive a guaranteed pension of ₹1,000 to ₹5,000 every month after you turn 60 — for the rest of your life. If you die, your spouse continues to receive the same pension. After both spouses pass away, the nominee receives the accumulated corpus as a lump sum.

The scheme is managed by PFRDA (Pension Fund Regulatory and Development Authority) and is available through all banks and post offices.

Key Benefits

• Guaranteed pension: ₹1,000 / ₹2,000 / ₹3,000 / ₹4,000 / ₹5,000 per month after age 60
• Pension for spouse: If subscriber dies, spouse gets same pension for life
• Return of corpus to nominee: After both die, nominee gets the full corpus amount
• Tax benefit: Contributions are eligible for tax deduction under Section 80CCD
• Government co-contribution: If you joined before March 2016 and are not a taxpayer, government contributed 50% of your contribution for 5 years (scheme is still open for new subscribers)

Contribution Chart (Monthly)

Joining younger = lower monthly contribution for the same pension.

Who is Eligible?

• Indian citizen aged 18 to 40 years
• Must have a savings bank account (any bank or post office)
• Must have a mobile number linked to the bank account
• Must not be an income taxpayer (as of October 2022, taxpayers are no longer eligible for new APY accounts)
• Must not be a member of any other statutory social security scheme (EPF, etc.)

Documents Required

1. Aadhaar card (for KYC)
2. Savings bank account details (bank name, account number, IFSC)
3. Mobile number linked to bank account
4. Nominee details (name, date of birth, relationship)

How to Apply Online — Step by Step

Via Net Banking / Mobile Banking (easiest):

1. Log in to your bank's net banking or mobile banking app
2. Find the section for "Atal Pension Yojana" or "Government Schemes"
3. Select your desired pension amount (₹1,000 to ₹5,000)
4. Enter nominee details (name, date of birth, relationship)
5. Confirm your monthly contribution amount (auto-calculated based on age and pension chosen)
6. Authorise — your APY account is opened and auto-debit is set up
7. You will receive a PRAN (Permanent Retirement Account Number)

Via Bank Branch:

1. Visit your nearest bank branch
2. Fill the APY registration form (available at the branch)
3. Submit with Aadhaar copy and bank account details
4. Branch will open the APY account and set up monthly auto-debit

Via Post Office:

1. Visit any post office savings branch
2. Fill the APY form and submit with Aadhaar

How to Check APY Account Status and Balance

1. Visit npscra.nsdl.co.in → APY section
2. Or call NSDL helpline: 1800-222-080 (toll-free)
3. Or use your bank's mobile app → APY section → view balance and contribution history
4. Annual account statement is sent to your registered mobile/email

Frequently Asked Questions

What happens if I miss a monthly contribution?

If the auto-debit fails (insufficient balance), a penalty is charged:

• ₹1/month for contribution up to ₹100
• ₹2/month for contribution ₹101–₹500
• ₹5/month for ₹501–₹1,000
• ₹10/month for contribution above ₹1,000

If account remains inactive for 6 months it is frozen; after 12 months it is deactivated; after 24 months it is closed.

Can I increase my pension amount later?

Yes — you can increase or decrease the pension amount once per year between April 1 and December 31 of the financial year.

Can I exit before age 60?

Premature exit is only allowed in exceptional circumstances (terminal illness or death of subscriber). In normal cases, exit before 60 is not allowed. However, if you voluntarily exit, only your own contributions plus accrued interest are returned.

Is APY safe?

Yes — APY is a government-backed scheme regulated by PFRDA. The pension amount is guaranteed by the Government of India.

Can a housewife open an APY account?

Yes — any Indian citizen aged 18–40 with a bank account can open APY, including homemakers. The account is in the individual's name.

Official Links

• PFRDA official: npscra.nsdl.co.in
• Scheme info: myscheme.gov.in
• Helpline: 1800-222-080 (NSDL, toll-free)