Atal Pension Yojana (APY): Benefits, Eligibility and How to Apply
Updated: Sarkari Yojana
Atal Pension Yojana (APY) is an old age income security scheme of the Ministry of Finance that encourages workers, especially in the unorganised sector, to save voluntarily for retirement. On reaching 60, a subscriber receives a guaranteed minimum pension of ₹1000, ₹2000, ₹3000, ₹4000 or ₹5000 per month for life, after which the spouse receives the same pension and the nominee gets back the accumulated pension wealth. It is meant for savings account holders aged 18 to 40 years, and anyone who is or has been an income tax payer cannot join from 1 October 2022. You can join through your bank's net banking or online through the eNPS (NSDL) APY registration page.
Ministry of Finance
Atal Pension Yojana (APY): Benefits, Eligibility and How to Apply
Application Fee
- Subscriber Contribution : Prescribed amount as per the APY Subscriber Contribution Chart
- Payment Mode : Auto-debit from savings account (monthly, quarterly or half-yearly)
Contributions are paid from the age of joining until 60. Charges, fees and overdue interest for non-payment or delayed payment are prescribed by PFRDA from time to time in consultation with the Central Government.
Age Limit
- Minimum Age to Join : 18 Years
- Maximum Age to Join : 40 Years
- Age of Exit and Start of Pension : 60 Years
A person can join APY up to his or her 40th birthday. For example, someone who turns 40 on 1 January 2023 can join until 1 January 2023 and becomes ineligible from 2 January 2023.
Vacancy Details
| Benefit | Details |
|---|---|
| Guaranteed minimum pension | ₹1000, ₹2000, ₹3000, ₹4000 or ₹5000 per month from age 60 until death |
| Pension to spouse | After the subscriber's death, the spouse receives the same pension amount until death |
| Return of pension wealth | After the death of both subscriber and spouse, the nominee receives the pension wealth accumulated till the subscriber's age of 60 |
| Tax benefit | Contributions are eligible for tax benefits similar to NPS under Section 80CCD(1) |
| Voluntary exit before 60 | Refund of the subscriber's own contributions with net actual accrued income, after deducting account maintenance charges |
| Death before 60 (Option 1) | Spouse may continue contributions in the subscriber's account till the subscriber would have turned 60, and then receive the same pension until death |
| Death before 60 (Option 2) | Entire accumulated pension corpus returned to the spouse / nominee |
Eligibility / Qualification
- Must be a citizen of India holding a savings bank account or post office savings bank account.
- Age at joining must be between 18 and 40 years.
- Must contribute the prescribed amount through auto-debit from the savings account on a monthly, quarterly or half-yearly basis.
- Must keep contributing from the age of joining until the age of 60.
- Nomination is required while joining.
Who Is Not Eligible
- From 1 October 2022, any citizen who is or has been an income tax payer is not eligible to join APY.
- A person without a savings bank account or post office savings bank account cannot open an APY account.
How to Apply
- Through net banking: log in to your internet banking account and search for APY on the dashboard.
- Fill in your basic details and nominee details.
- Give consent for auto-debit of the contribution from your account and submit the form.
- Through eNPS: visit https://enps.nsdl.com/eNPS/NationalPensionSystem.html, select "Atal Pension Yojana" and then "APY Registration".
- Fill in the basic details and complete KYC by one of three options: Offline KYC (upload the Aadhaar XML file), Aadhaar (OTP on the mobile number registered with Aadhaar) or Virtual ID (Aadhaar virtual ID). An acknowledgement number is generated once the basic details are filled.
- Fill in personal details, choose the pension amount you want after 60 and the frequency of contribution, then confirm.
- Fill in nominee details and submit; you are redirected to the NSDL website for eSign.
- Once Aadhaar OTP verification is done, your APY registration is complete.
- You can also join digitally through the e-APY portal or the web portal of banks that offer this facility.
Atal Pension Yojana (APY): Benefits, Eligibility and How to Apply
Name / नाम: ______________________________ Mobile: ____________________
Form Filling Checklist · फॉर्म भरने की चेकलिस्ट
- Age / आयु: 18 - 40 years
Documents required / ज़रूरी दस्तावेज़
- Active bank or post office savings account (KYC details are fetched from this account)
Check the official notification before uploading. https://sarkaripoint.com/atal-pension-yojana-apy-benefits-eligibility-and-how-to-apply
Important Links
| Scheme Details on myScheme (Govt. of India) | Click Here |
|---|---|
| Apply Online / APY Registration (eNPS) | Click Here |
| APY Subscriber Contribution Chart (PDF) | Click Here |
| Raise Grievance / Check Grievance Status (NSDL CRA) | Click Here |
More Information
About the Scheme
Atal Pension Yojana is an old age income security scheme run under the Ministry of Finance. It is aimed mainly at the poor, the under-privileged and workers in the unorganised sector, and helps address their longevity risk by encouraging them to save voluntarily for retirement. The scheme is linked to a savings bank or post office savings account, and the KYC details are taken from that active account.
Key Benefits Explained
The subscriber chooses a guaranteed minimum pension of ₹1000, ₹2000, ₹3000, ₹4000 or ₹5000 per month, which is paid from age 60 until death. The protection then extends to the family: the spouse receives the same pension for life, and after both have died the nominee receives the pension wealth accumulated up to the subscriber's age of 60. Contributions also qualify for tax benefits similar to NPS under Section 80CCD(1).
- If the subscriber dies before 60, the spouse can either continue the account in his or her own name until the original subscriber would have reached 60 and then draw the same pension, or take back the entire corpus accumulated so far. A continued account is in addition to any APY account the spouse already holds.
- If the subscriber exits voluntarily before 60, only his or her own contributions are refunded along with the net actual accrued income, after account maintenance charges. Subscribers who joined before 31 March 2016 and received the Government Co-Contribution do not get that co-contribution or its income back.
Who Should Apply and Who Cannot
The joining age is 18 to 40 years, and contributions continue every month, quarter or half-year until 60 through auto-debit. A savings account is mandatory. From 1 October 2022, a person who is or has been an income tax payer cannot join. Eligible Swavalamban subscribers may be migrated to APY.
Applying: Practical Points
- Decide the pension amount and the contribution frequency before you start, and check the prescribed amount in the official APY Subscriber Contribution Chart.
- Keep enough balance in your account on the due date, because delayed contributions attract overdue interest.
- Keep your nominee's details ready; Aadhaar details of the spouse and nominees may also be provided.
- After joining, subscribers are informed by SMS alerts on the registered mobile number and receive a physical statement of account once a financial year at the registered address.
- For help, call the toll-free APY helpline 1800-110-069. Each grievance raised online gets a token number, which you can use to track it under "Check the status of Grievance / Enquiry already registered".
Frequently Asked Questions
Who can join Atal Pension Yojana?
Any citizen of India aged 18 to 40 years who has a savings bank account or post office savings bank account can join. From 1 October 2022, anyone who is or has been an income tax payer is not eligible.
How much pension will I get under APY?
After 60, you receive a guaranteed minimum pension of ₹1000, ₹2000, ₹3000, ₹4000 or ₹5000 per month, depending on the pension amount you choose, until death. Your spouse then gets the same amount, and finally the nominee receives the accumulated pension wealth.
When does the APY pension start?
The age of exit and the start of pension is 60 years.
Can I join APY after turning 40?
No. You can join only up to your 40th birthday; from the next day you are no longer eligible.
Is nomination compulsory, and who is the default nominee?
Yes, nomination is required. If you are married, your spouse is the default nominee; if unmarried, you can nominate any other person and must provide spouse details after marriage.
What happens if my contribution is delayed?
Overdue interest is charged for the delayed period if the contribution is paid after the due date.
Is Aadhaar compulsory for joining APY?
According to the scheme FAQs, Aadhaar is not mandatory. The online eNPS registration route, however, uses Aadhaar-based KYC options.
How can I check my APY account or raise a complaint?
PRAN activation, balance and contribution credits are shared by SMS on your registered mobile and through the APY app of NSDL, and a physical statement is sent once a financial year. Grievances can be raised free of cost at www.npscra.nsdl.co.in (NPS-Lite) or through CGMS, or you can call the toll-free helpline 1800-110-069.
Note: Candidates are requested to read the official notification carefully (last date, age limit, eligibility) before filling the form. SarkariPoint is not responsible for any errors in the information above.