Atal Pension Yojna Scheme Details | APY Online Form

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APY Scheme Details


Atal Pension Yojana (APY) is a pension scheme launched by the government of India for the benefit of individuals, especially those working in the unorganised sector. The scheme was launched in 2015 and replaced the previously launched government scheme, Swavalamban Yojana. The underlining objective of this scheme is to provide social and financial security to people in their old age by enabling them to make regular savings during their productive years. APY aims at providing minimum guaranteed monthly pension after the age of 60 years in different slabs viz. Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000 and Rs. 5,000. Apart from workers in the unorganised sector for which the scheme is highly beneficial, employees from the private sector can also apply for APY to avail its numerous advantages. The pension amount will be fixed depending on the age of the subscriber and the contribution made by him or her.

A subscriber’s spouse is entitled to claim the pension amount under the Atal Pension Yojana upon his or her death. The spouse have two options before them if a subscriber dies before completing the age of 60 years - to exit the scheme and claim the entire pension amount or continue with the scheme for the remaining period. In case of death of both the subscriber and the spouse, the accumulated pension amount can be claimed by the nominee. In accordance with the investment pattern set by the government, the collected amount under APY is managed by the Pensions Funds Regulatory Authority of India (PFRDA). The central government also co-contributes 50% of the total contribution or Rs. 1,000 per annum, whichever is lower, to each eligible subscriber who joined the scheme between before 31st December 2015, for financial year 2015-16 to 2019-20. This is applicable if subscribers are not income tax payers or part of any other social security scheme.

Benefits of Atal Pension Yojana


The Atal Pension Yojana is an excellent saving scheme for individuals and offers ample benefits at a time when a person’s income-earning capacity is low. The savings made through this scheme enables people to deal with rising cost of living and lead a dignified life even after retirement. Some of the advantages of APY are given below:

  1. The subscribers can increase their premium as per their choice and can look forward to huge monthly pension amounts, ranging between Rs. 1,000 and Rs. 5,000, by making significant contributions.
  2. Regular updates such as status of contribution are provided to the subscribers via SMS alerts and physical account statement.
  3. The account is portable and will be linked to bank account so that the subscriber can operate it from anywhere in the country.
  4. APY is an affordable scheme and is available at ultra-low cost and investment can be as low as Rs. 42 per month, provided the age at entry is 18 years.
  5. It is regulated by PFRDA with transparent investment norms. The money contributions made by subscribers of APY are maintained safely.
  6. At the time of investment, individuals can claim income tax benefit of up to Rs. 1.5 lakh under the section 80C of the income tax act of 1961. Moreover, they can also avail deductions of up to Rs. 50,000 under section 80CCD (1B).

Atal Pension Yojana Eligibility


To avail the multiple benefits of Atal Pension Yojana scheme, individuals should meet the eligibility criteria, as mentioned below:

  1. The subscribers of the Atal Pension Yojana scheme should be a citizen of India.
  2. The minimum age of an individual applying for the scheme is 18 years and maximum age is 40 years. If an individual joins at the age of 40 years to avail a monthly pension of Rs. 1,000, he or she is required to contribute a higher amount than those joining at 18 years.
  3. The subscribers must make regular contributions for a minimum of 20 years, depending on their age at entry and pension slab chosen.
  4. The prospective applicants of the APY scheme should have a valid mobile number and a bank account linked to their Aadhar number. This is an important requirement during the registration process and to get periodic updates on the APY account.

APY Contribution Chart


Subscribers can make monthly contributions as per below given chart. They are also entitled for making contributions on quarterly and half-yearly basis.

Entry age Remaining years of contribution Monthly instalment for Rs. 1,000 monthly pension/ corpus amount Rs. 1.7 lakh Monthly instalment for Rs. 2,000 monthly pension/ corpus amount Rs. 3.4 lakh Monthly instalment for Rs. 3,000 monthly pension/ corpus amount Rs. 5.1 lakh Monthly instalment for Rs. 4,000 monthly pension/ corpus amount Rs. 6.8 lakh Monthly instalment for Rs. 5,000 monthly pension/ corpus amount Rs. 8.5 lakh
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1,087
38 22 240 480 720 957 1,196
39 21 264 528 792 1,054 1,318
40 20 291 582 873 1,164 1,454

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