• atal pension yojana spotlight

APY aims at providing a steady stream of income after the age of 60 to all citizens of India.

Atal Pension Yojana

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Atal Pension Yojana is based on National Pension Scheme and aims at providing a steady stream of income after the age of 60 to all citizens of India. Know more!

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  • Introduction
  • NPS Lite
  • Enrol for Atal Pension Yojana

Atal Pension Yojana : Introduction

  • Atal Pension Yojna is a Social Security Scheme introduced by Govt. of India, aimed at providing a steady stream of income after the age of 60 to all citizens of India. It is based on National Pension Scheme (NPS) frame work. Permanent Retirement Account Number (PRAN) will be provided to the subscriber immediately by the branch.
  • Under APY the subscribers have a choice to get Fixed Monthly Pension amount from Rs. 1000, Rs.2000, Rs. 3000, Rs. 4000 and Rs. 5000 by paying monthly subscription as per the table given below:

Age of Entry Years of Contribution Monthly pension of Rs. 1000 Monthly pension of Rs. 2000 Monthly pension of Rs. 3000 Monthly pension of Rs. 4000 Monthly pension of Rs. 5000
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1087
38 22 240 480 720 957 1196
39 21 264 528 792 1054 1318
40 20 291 582 873 1164 1454
  • Central Government will co-contribute 50% of the total yearly contribution or Rs. 1000 per annum, whichever is lower, for the period of 5 Years in the account of subscribers who join the scheme up to 31st December, 2015 and who are not a member of any Statutory Social Scheme and not an income tax payer.
  • Subscribers joining APY scheme at an early stage of age would be required to pay lesser monthly subscription amount as compared to the subscriber joining at a later age as illustrated in the above table.
  • Our NPS-Lite Swavalamban subscribers, if eligible i.e. between the age of 18 to 40, may shift to APY by filling the APY Registration form for Existing Swavalamban Subscribers.
  • Nomination facility is available.

Atal Pension Yojana : NPS Lite

  • Customer can visit branches to deposit contribution in NPS Lite scheme.
  • NPS Lite subscribers can contribute for NPS Lite PRAN online using the below link -https://enps.nsdl.com/eNPS/InitialExistingUser.html
  • Select 'NPS Swavalamban' in the field NPS Subscriber Type and complete the online contribution process.
    1. Modification/ withdrawal request - Duly filled NPS Lite modification form to be forwarded to NPS Nodal Cell through Base Branch.
    2. Migration to APY - NPS Lite subscribers in the age group of 18-40 years can migrate their PRANs to APY. Customer to approach branch for the same.
    3. Grievance redressal - Customer can approach their base branch.

The Government of India vide Gazette Notification dated 10th August, 2022 has made the amendment in the eligibility criteria for the resident Indian, which states that “Provided that from 1st October, 2022, any citizen who is or has been an income-tax payer, shall not be eligible to join APY”

Atal Pension Yojana : Enrol for Atal Pension Yojana

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Frequently Asked Questions (FAQs)

  • What is Atal Pension Yojana?

    Atal Pension Yojana (APY), a pension scheme launched by Government of India to make our society a pensionable society. Under the APY, minimum guaranteed pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will start after attaining the age of 60 years depending on the contributions by the subscribers for their chosen pension amount.

  • Who can subscribe to APY?

    Any Citizen of India can join APY scheme. The following are the eligibility criteria: -

    • The age of the subscriber should be between 18 and 40 years.
    • He/She should have a savings bank account/ post office savings bank account.
    • He/She should not be Income Tax payee.
  • Can a customer open more than one APY account?

    No, opening of multiple accounts is not permitted in APY.

  • Can a customer Exit the scheme before attaining the age of 60 years?

    Yes, it is permitted.

  • How can I open an APY account?

    Customer can open an APY account Online through bob WORLD app; BOB Internet or Offline by visiting a branch physically or through TAB banking.

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