Atal Pension Yojana (APY) All Doubt Clear


The Atal Pension Yojana (APY) was launched on 09.05.2015 to create a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector. APY is administered by Pension Fund Regulatory and Development Authority (PFRDA).


APY is open to all bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen.


Subscribers would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years.


Atal Pension Yojna Details

Atal Pension Yojana (or APY, previously known as Swavalamban Yojana) is a government-backed pension scheme in India, primarily targeted at the unorganised sector. It was mentioned in the 2015 Budget speech by the then Finance Minister Arun Jaitley. It was launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India’s population had any kind of pension scheme and the APY scheme aims to increase the number.


Eligibility to apply Atal Pension Yojna

To avil Atal Pension Yojna, You must be full filled criteria

  • *You Must be a Citizen of India
  • *Must be the age between 18-40 years
  • *Should have contribution minimum 20 years
  • *Must have a bank account and make sure that account linked with your aadhar card.
  • *Must have valid mobile number.


Those who fulfill the requirements, can apply this scheme.


How to apply Atal Pension Yojna?


All nationalised bank provide this service. 

You can Apply Atal Pension Yojna by two methods.

  1. You can visit your bank branch , ask for the APY Form. 

The APY from is available in all languages. Apy form is available is English, hindi, bengali, marathi, Gujrati, punjabi , odia and many more languages.


  1. If you are a internet banking user, then you can fill the form at home. You have to login your internet banking.

You have to select apy option

Fill the online form

Make sure your aadhar card is linked with your mobile number. Because you have to e sign the application by using aadhar otp.


Monthly Contribution


Monthly Contribution depends upon the amount of pension you want to receive after your retirement or after the age of 60 and also depends on the age at which you start to contribution.

Atal Pension Yojna Contribution Table

The following table will help you how much you need to contribute per annum based on your age.


Penalties for default

Deduction would be made in the subscribers account for account maintenance charges and other related charges on a periodic basis. Once the account balance in the subscriber’s account becomes zero due to deduction of account maintenance charges, fees and overdue interest, the account would be closed immediately. If there’s a continuous default for 6 months, you pension account will be freezed and if there’s a continuous default for 12 months, the account will get closed and whatever balance is left after the above said deductions will be given to the subscriber.

For delayed contributions a penalty of Rs. 1 per month for contribution of every Rs. 100, or part thereof, for each delayed monthly contributions. Which implies:


Rs.1 per month for contribution upto Rs.100 per month.

Rs.2 per month for contribution upto Rs.101 to 500 per month.

Rs.5 per month for contribution between Rs.501 to 1000 per month.

Rs.10 per month for contribution beyond Rs.1001 per month.


Withdrawal procedure from APY Upon completion of 60 years of age:


After attaining the age of 60 years, you need to get in touch with your respective bank or post office and submit the request for drawing the pension.

However, if in case of subscriber’s death after 60 years, the same amount of monthly pension is payable to spouse (default nominee). Nominee will be eligible for return of pension wealth accumulated till age 60 of the subscriber upon death of both the subscriber and spouse.


Exit before the age of 60 Years:

As per circular dated May 2, 2016 on PFRDA website, voluntary exit in APY is generally not permitted. However in case of exceptional circumstances such as terminal illness, or death of the subscriber it can be allowed. In case a subscriber, who has availed Government co-contribution under APY, chooses to voluntarily exit APY at a future date, he shall only be refunded the contributions made by him to APY, along with the net actual accrued income earned on his contributions (after deducting the account maintenance charges). The Government co-contribution, and the accrued income earned on the Government co-contribution, shall not be returned to such subscribers.

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Q & A About Atal Pension Yojna

Q: Can I apply for APY online?


A: No, currently there are no provisions to apply for APY online. You need to go to your bank and fill out the forms.


Q: What are the documents required to apply for the APY Scheme?


A: To apply for the APY scheme, you need to fill out the form and submit a photocopy of your Aadhar Card. No other documents are required.


Q: How will I know if the pension scheme is activated?


A: You will receive an SMS alert on your registered mobile number, informing you when the pension scheme is activated.


Q: When is the last date to join the Atal Pension Yojana Scheme?


A: The Atal Pension Yojana Scheme does not have a last date to join. Submit your application before June 1st to join the scheme for the coming year. The scheme is renewed on June 1st every year.


Q: What are the minimum and maximum age to join this scheme?


A: The minimum age is 18 years. The scheme is also open to college students. The maximum age is 40 years. This is because the minimum contribution period is 20 years. At the age of 60, you will start receiving your pension.


Q: Is my money safe? Will the scheme be changed when the government changes?


A: The Atal Pension Yojana scheme is passed by the Parliament of India in the budget session. The scheme will not be discontinued if there is a change in the Government, and your contribution is safe. Any succeeding Governments has the right to only change the name of the pension scheme.