Atal Pension Yojana (APY) Scheme

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Home » Now with Atal Pension Yojana post-retirement Get upto Rs. 60,000/year
अटल-पेंशन-योजना

Now with Atal Pension Yojana post-retirement Get upto Rs. 60,000/year

By Atal Pension Yojana | Published on 13/08/2018

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India is a “young” country with youth accounting for over 50% of the population. But once this young population starts aging, India may face a critical challenge because of an “unpensioned society” as over 90% of Indians aren’t covered under any pension scheme.

To address this, the government launched Atal Pension Yojana (APY), an affordable scheme for every Indian.

Here’s everything about the scheme.

AboutAbout the Atal Pension Yojana

The Atal Pension Yojana (APY) was announced by Finance Minister Arun Jaitley in the 2015 Budget and PM Narendra Modi launched the scheme in May 2015.

Though the scheme focuses on the unorganized sector and those with low or no fixed income, it is open to all the citizens fulfilling the eligibility criteria.

APY replaced the previous Swavalamban Yojana announced in the 2010 Budget.

Who is eligible for the scheme?

APY is an affordable govt-backed old-age income security plan. In order to be eligible for the scheme, one must be an Indian citizen aged 18-40 years. The subscribers should also hold a valid account either with a bank or post office.

EnrollmentHow to apply for Atal Pension Yojana?

Those interested in applying for APY can approach the bank or post office they hold an account with and fill up the registration form.

However, several major banks, including State Bank of India and ICICI Bank, also offer online APY enrollment option through the net banking service.

One can call the toll-free number of Atal Pension Yojana – 1800-110-069 – in case of queries.

You can join APY online with Aadhaar

People can submit their APY application online with Aadhaar on National Pension System’s central recordkeeping agency NSDL’s website. On the homepage, click on “Open Your NPS Account/Contribute Online” option (top-right corner) and select “APY Application” from the list on right and submit the required details.

PaymentWhat is the mode of payment?

Subscribers will make payments to the pension scheme periodically (monthly, quarterly, or half-yearly); the amount would be debited automatically from their account.

So, to avoid late payment charges, APY subscribers will have to maintain enough balance before the amount is deducted on the due date.

Delayed payments attract an overdue interest of 1% per month which is levied on the pending amount.

ProvisionsHow much do you contribute and receive under APY?

APY subscribers receive a monthly pension of Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000 or Rs. 5,000, post retirement (after turning 60).

The pension amount depends on the contribution (starting at just Rs. 42/month) and the age at which one enrolls.

The Center makes a yearly co-contribution for eligible subscribers, amounting to 50% of their annual contribution or Rs. 1,000, whichever is lower.

Contribution amountSubscriber’s minimum contribution amount depends on age, required pension amount

Under APY, an 18-year-old needs to make contributions for 42 years while a 39-year-old, for 19 years (until they turn 60).

However, the minimum contribution amount increases with age (at the time of registration). The earlier one starts contributing, the more they save.

Subscribers’ Contribution Chart on NPS’s website explains how much one needs to contribute monthly/half-yearly/yearly based on their age and pension amount.

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Filed Under: Atal Pension Yojana (APY), अटल पेंशन योजना (एपीवाई)

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Comments

  1. Sanjay Kumar Pandit says

    19/08/2018 at 6:17 AM

    I deposited @ 824/ monthly and I know that I will get @5000/month as a pension but I want to know how much money will be given and when and whom?

    Reply

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APY Customer Care Toll-Free Number

1800-110-069

Atal Pension Yojana Recent News

  • Enrollments in the Atal Pension Yojana have been increasing by 29% annually since 2019
  • Regularise your Atal Pension Yojana account before this date to avoid penalty
  • APY अलर्ट! अटल पेंशन योजना में हो सकता है नुकसान, वर्ना 30 सितंबर तक कर लें ये काम
  • Auto-debit of Atal Pension Yojana contributions will re-start from July 1
  • Atal Pension Yojana के लिए ऑटो डेबिट फैसिलिटी 1 जुलाई से फिर होगी शुरू, खाते में रखें पैसा

Top News

  • Toll-Free Numbers for Atal Pension Yojana
  • #Benefit of Atal Pension Yojana (APY)
  • #APY Application Form
  • #Atal #Pension #Yojana(APY) Scheme #Penalty Charges
  • Atal Pension Yojana Account Status Online

Atal Pension Yojana Important Links

  • Atal Pension Yojana (APY) Brochure - pdf
  • Atal Pension Yojana( APY) -Subscriber Information Brochure - pdf
  • Details of Atal Pension Yojana - pdf
  • Atal Pension Yojana Chart - pdf
  • Atal Pension Yojana Plan Presentation - ppt
  • Atal Pension Yojana Benefits dated 17th August 2015 - pdf

RECENT APY NEWS

  • Enrollments in the Atal Pension Yojana have been increasing by 29% annually since 2019
  • Regularise your Atal Pension Yojana account before this date to avoid penalty
  • APY अलर्ट! अटल पेंशन योजना में हो सकता है नुकसान, वर्ना 30 सितंबर तक कर लें ये काम
  • Auto-debit of Atal Pension Yojana contributions will re-start from July 1
  • Atal Pension Yojana के लिए ऑटो डेबिट फैसिलिटी 1 जुलाई से फिर होगी शुरू, खाते में रखें पैसा

TRENDING NOW

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  • #Atal #Pension #Yojana(APY) Scheme #Penalty Charges
  • Atal Pension Yojana Account Status Online
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APY IMPORTANT LINKS

  • Atal Pension Yojana (APY) Brochure - pdf
  • Atal Pension Yojana( APY) -Subscriber Information Brochure - pdf
  • Details of Atal Pension Yojana - pdf
  • Atal Pension Yojana Chart - pdf
  • Atal Pension Yojana Plan Presentation - ppt
  • Atal Pension Yojana Benefits dated 17th August 2015 - pdf

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