Atal Pension Yojana (APY)
Monthly pension₹1,000 to ₹5,000 (after 60)
Age18 to 40 years
ContributionDepends on age and chosen pension
Bank accountSavings account required
⚠️ PFRDA/government can change the contribution chart and rules. Ask the bank for the latest chart before joining.
What is the scheme?
Atal Pension Yojana is for unorganised sector workers. You join between 18 and 40, pay a fixed monthly contribution based on your age and chosen pension, and after 60 receive ₹1,000 to ₹5,000 a month.
Key benefits
- Fixed monthly pension after 60 (choose from ₹1,000, 2,000, 3,000, 4,000 or 5,000)
- On the holder's death, the spouse gets the same pension, and after both the nominee gets the corpus
- The younger you join, the lower the monthly contribution
Eligibility – who can apply
- Age 18 to 40 years
- Savings bank/post office account and Aadhaar
- Valid mobile number
Who is not eligible / things to note
- Income taxpayers cannot make new applications from 1 October 2022
- New applicants above 40 years
Documents required
- Aadhaar card
- Savings account
- Mobile number
- Nominee details
How to apply (step by step)
- Take the APY form from your bank branch/post office, net banking or app
- Choose the pension amount you want (₹1,000 to ₹5,000)
- Consent to auto-debit from the bank account
- Add a nominee and make sure the monthly contribution keeps getting deposited
Frequently asked questions
How much will the monthly contribution be?
It depends on your age and chosen pension. Ask the bank for the APY chart to get the exact amount for your age.
Can income taxpayers join?
From 1 October 2022 income taxpayers cannot open new accounts.
What if I must stop contributing midway?
Penalty can apply for missed contributions and the account may be closed after a long gap. Ask the bank the rules.
Beware: Do not pay any agent or website in the name of applying for a government scheme. Applying on the official portal is generally free. Do not share OTP, PIN or confidential bank details with anyone.