Atal Pension Yojana (APY) – Details,Benefits,Eligibility

atal pension yojana

Atal Pension Yojana (APY) scheme is launched by Prime Minister Narendra Modi along with Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) on 9th May, 2015. I have already described about Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) in my earlier post. In this post I will give information about Atal Pension Yojana.

What is Atal Pension Yojana?

Atal Pension Yojana is pension scheme launched by government of India for Indian citizens. This scheme will mainly focus on unorganized sector workers. Under Atal Pension Yojana guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be payable to subscriber on retirement age 60 years. Pension amount depends upon contribution made by subscriber.

Also Read – Pradhan Mantri Suraksha Bandhan Yojana Scheme

Eligibility Criterion for Atal Pension Yojana

  • Minimum age of subscriber 18 years. Maximum Age 40 years.
  • Subscriber should have saving bank account as contribution towards APY will be automatically debited from saving bank account.
  • Subscriber of APY should be in possession of mobile number and its details are to be furnished to the bank during registration.

Minimum Contribution

Contribution of a subscriber at age 18 years, for pension amount of 1000 Rs/- will be 42 Rs/- per month which is minimum contribution for this scheme. If subscriber age is 40 years his/her minimum contribution will be 291 Rs/- per month.

Also Read – Pradhan Mantri Awas Yojana PMAY – Subsidy Details – How to apply?

Maximum Contribution

Maximum contribution of subscriber at 40 years, for pension amount of 5000 Rs/ – will be 1454 Rs/- per month. For 18 years of age this amount shall be 210 Rs/-.  This contribution amount varies and depends on age. For more information please refer to Atal Pension Contribution chart given below.

Atal Pension Yojana Contribution Chart

Atal Pension Yojana


Government contribution towards Atal Pension Yojana scheme 

In Atal Pension Yojana, Government will co-contribute 50% of the total contribution or Rs. 1,000/- per annum, whichever is lower, to the eligible APY account holders who join the scheme during the period 1st June, 2015 to 31st December, 2015. The Government co-contribution will be given for 5 years from FY 2015-16 to 2019-20.

Please note that co-contribution by government will be given only if you are not covered by any Statutory Social Security Schemes. Another condition is you should not be income tax payer.

Also Read – Pradhan Mantri Vaya Vandana Yojana (PMVVY) Plan 842 – Review

What is the procedure for opening Atal Pension Yojana Account?

  • Approach the bank branch where individual’s savings bank account is held.
  • Fill up the Atal Pension Yojana registration form.
  • Provide Aadhaar/Mobile Number.
  • Ensure keeping the required balance in the savings bank account for transfer of monthly contribution.

Hope you find this post useful, if you have any other query regarding Atal Pension Yojana please share it here.

For more information about this scheme please refer to scheme document.

Article by Raviraj

Raviraj is the man behind He is graduate in finance, engaged in blogging since 7 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

Subscribe to Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.


  1. Avijeet says:

    I m 26yr old,have to invest for 34 yrs. Suppose I die before my age 60,then what benefit my nominee will get.

    And the amount of 8.5lakh, is this a maturity amount which I got after my age 60, or my nominee will get.

    • Dear Avijeet,

      In case of death of subscriber of Atal pension Yojana, pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee. 8.5 lakh is Return of Corpus to the nominee of the subscribers along with pension.

    • Amar nath Pyne says:

      Hello Sir/Madam,
      I am Amarnath Pyne, I have SB A/c at SBI bank, I have a question to you that Can I open APY scheme with in Jan 2017?
      Plz reply

      • Amar nath Pyne says:

        Hello Sir/Madam,
        I am Amarnath Pyne, I am 31 year old, I have SB A/c at SBI bank, I have a question to you that Can I open APY scheme with in Jan 2017?
        Plz reply

  2. Gairik Patranobis says:

    Thanks a lot to the Prime Minister of India for launching schemes like ATAL PENSION YOJONA etc. I am proud of NDA Govt.

  3. SOURAV GHOSH says:

    I am a govt. contractual (1year) employee (service is renew every year) , my yearly income is 288000/- please tell me that I am eligible or not for Atal pension Yojana and Govt. subsidy.

  4. nitesh says:

    the bank manager are not accepting my form and at my risk i can submit the form @ if on 1st June if the installment of 1454 is deducted from my saving account then you are eligible for this scheme and if not then you are not is they are giving me the right suggestions or at the time of pension it will create problem for me please I am waiting for your valuable advice

  5. nitesh patel says:

    I am very much confused about my age my birth date is 5 – 5- 1975 so am I eligible for this scheme or not some bank staff are saying yes & some are saying no

Leave a Reply

Your email address will not be published. Required fields are marked *