Scheme Overview

The Atal Pension Yojana (APY) is a centrally administered pension product launched by the Government of India under the aegis of the Pension Fund Regulatory and Development Authority (PFRDA). It targets individuals engaged in unorganized‑sector occupations, providing a defined‑benefit pension that commences at age 60. The scheme operates on a co‑contribution model wherein the subscriber pays a fixed monthly premium, and the government contributes a matching amount for eligible beneficiaries.

Contribution Structure

Subscribers select a desired pension bracket (Rs 1,000, 2,000, 3,000, 4,000, or 5,000 per month). The corresponding monthly premium, ranging from approximately Rs 42 to Rs 462, is payable until the subscriber reaches 60 years of age. Premiums are collected via auto‑debit from the subscriber’s savings bank account.

Guarantee and Survivorship

Upon attaining 60 years, the subscriber receives the assured monthly pension for life. In the event of the subscriber’s death after age 60, the spouse is entitled to the same pension amount. If the subscriber dies before 60, the accumulated corpus is transferred to the nominated beneficiary.

1. Visit the bank where you maintain a savings account.
2. Obtain and complete the APY registration form.
3. Choose the desired pension amount and corresponding monthly premium.
4. Authorise auto‑debit of the premium from your savings account.
5. Submit the form; the bank forwards the application to PFRDA.
6. Receive enrollment acknowledgment and APY membership number.