Atal Pension Yojna (APY)

The scheme was launched on June 1, 2015, and the focus is on the unorganized sector. A pension provides people with a monthly income when they are no longer earning. A Subscriber receives a pension based on accumulated contribution out of his current income. Under the Atal Pension Yojna Scheme (APY), the subscribers, under the age of 40, would receive the fixed monthly pension of Rs. 1000 to Rs 5000 at the age of 60 years, depending on their contributions.
To make the pension scheme more attractive, the government would co-contribute 50 percent of a subscriber’s contribution or Rs 1,000 per annum,

Previously, Atal Pension Yojana is known as Swavalamban Yojana.

Eligibility for APY:

  1. Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme.
  2. An Indian citizen
  3. Have a valid bank account
  4. Age of joining and contribution period:  The minimum age of joining APY is 18 years and maximum age is 40 years. One needs to contribute till one attains 60 years of age.

Enrolment agencies:

All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enroll subscribers through the setup of National Pension System.
if a person joined Atal Pension Yojna at 35 years, he will contribute till the age of 60 years ie 25 years.
If he wants a monthly pension of Rs 1000 he would contribute Rs 181 a month. On his death, his wife would get Rs 1000 per month and after her death, the nominees will get 1.7 lakh.
If he wants a monthly pension of Rs 3000 he would contribute Rs 543 a month. On his death, his wife would get Rs 3000 per month and after her death, the nominees will get 5.1 lakh.

All account holders customer below the age of 40 is eligible for a pension of up to ₹5,000 per month on attainment of 60 years of age.

Restrictions on government contribution:

if you are a part of any other social security scheme and a taxpayer, then you are not entitled to government contribution. For instance, members of the Social Security Schemes under the following enactments would not be eligible to receive Government co-contribution:
1. Employees’ Provident Fund & Miscellaneous Provision Act, 1952.
2. The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
3. Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
4. Seamens’ Provident Fund Act, 1966.
5. Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act, 1961.
6. Any other statutory social security scheme.

How to apply for Atal Pension Yojana

Applying for this pension scheme is very simple. Follow these steps to start an Atal Pension Yojanaaccount.

  1. All nationalized banks provide this scheme, so you can visit any of these banks or you can go to your own bank.
  2. Atal Pension Yojana Forms available online and at the bank. You can download the form from the official website.
  3. The forms are available in English, Hindi, Bangla, Gujarati, Kannada, Marathi, Odia, Tamil, and Telugu.
  4. Fill up the application form and submit it to your bank.
  5. Provide a valid mobile number, if you haven’t already to the bank.
  6. Submit a photocopy of your Aadhaar card.
  7. You will get a confirmation message when the application is approved.

ICICI Bank Steps to enroll online for Atal Pension Yojana (APY)

There are only ICICI and SBI banks providing facility to apply online for Atal Pension Yojna.
Login to -> Customer service-> Service Request-> Enroll for Atal Pension Yojana
  1. Login to
  2. Click on Customer Service
  3. Now, Click ‘Service Request’
  4. Click on “Enroll for Atal Pension Yojana” from “Bank Accounts” section
  5. Fill in all the required details
  6. The Atal Pension Yojana Account will be activated within 1 working day
    Auto Debit will be initiated automatically


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