The Atal Pension Yojana (APY) is a government-backed pension scheme in India, specially designed to offer retirement benefits to workers in the unorganized sector. Launched in 2015 by the Government of India, the scheme targets savings account holders between the ages of 18 to 40 years, provided they are non-income tax payers. With a focus on long-term financial security, APY encourages individuals to plan for their retirement income with regular, low-cost contributions.
Who is APY for?
APY is tailor-made for workers in informal and unorganized sectors like street vendors, daily wage labourers, domestic workers, and small business owners. However, any Indian citizen with a savings bank account, within the specified age range, and not paying income tax is eligible to apply. As of October 1, 2022, income tax payers are no longer eligible to enroll in the Atal Pension Yojana (APY). This change in eligibility criteria was implemented starting on that date, according to the National Pension System Trust. Individuals who are already enrolled in APY and later become income tax payers are also subject to account closure
Key Features and Benefits of Atal Pension Yojana
Guaranteed Pension
Family Protection
The spouse receives the same monthly pension.
Upon the demise of both the subscriber and spouse, the nominee receives the entire pension wealth accumulated till the subscriber’s 60th year.
If a subscriber exits APY before the age of 60, they will receive only their personal contributions along with interest, after deducting account charges. Government co-contributions (if applicable) are not refunded in such cases.
The spouse can continue contributions in the subscriber's account until the original vesting age of 60.
Alternatively, the entire corpus can be withdrawn by the spouse or nominee.
Contribution & Charges
You can view the full contribution chart here:
APY Subscriber Contribution Chart (PDF). Late payment charges and overdue interest may be applied as per PFRDA guidelines.
Online Methods
- Log into your online
banking portal.
- Navigate to the APY
section.
- Fill in basic details,
nominee info, and agree to auto-debit terms.
- Submit the application
digitally.
Via NSDL
eNPS Portal:
- Visit: https://enps.nsdl.com/eNPS/NationalPensionSystem.html
- Select Atal Pension Yojana
> APY Registration
- Complete KYC using:
- Aadhaar XML Upload
(Offline)
- Aadhaar OTP (Online)
- Aadhaar Virtual ID
- Enter personal and nominee
details
- Choose pension amount and
contribution frequency
- eSign via Aadhaar to
complete registration
Through
e-APY portals or participating bank websites.
Visit your nearest bank or post office branch.
Submit the APY registration form linked to your savings account.
KYC will be fetched directly from your existing account.
Raising Grievances
Subscribers can raise grievances at any time via the NSDL CRA website:
A token number is assigned, and you can check the grievance status using it under “Check Grievance Status.
Low Investment, High Security: Contributions start from as low as ₹42 per month (based on age and pension target).
Inclusive Financial Tool: Designed especially for those without formal retirement benefits.
Auto-debit Convenience: Contributions are deducted automatically from your savings account.
In a
country like India, where a large portion of the workforce lacks pension
coverage, the Atal Pension Yojana is a vital step toward financial independence
and security in old age. With easy registration, flexible contributions, and
government assurance, APY is a reliable pension scheme for India’s working
class to ensure retirement with dignity.
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