Atal Pension Yojana.

June 4, 2022

The Atal Pension Yojana (APY) was launched on 9TH May 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.
The monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.
Subscribers can make contributions to APY on monthly/ quarterly / half-yearly basis.
Subscribers can voluntarily exit from APY subject to certain conditions, on deduction of Government co-contribution and return/interest thereon.