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Atal Pension Yojana (APY)

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Atal Pension Yojana (APY)

Recently Atal Pension Yojana (APY) has completed seven years providing social security.

Atal Pension Yojana was launched in the year 2015 under the Ministry of Finance. The scheme focuses on meeting the needs of old age.

Since its launch, over 4 crore individuals have subscribed to APY.

This scheme was started in place of Swavalamban scheme. Atal Pension Yojana provides a universal social security system for all Indians, especially the poor, disadvantaged and workers in the unorganized sector.

Co-contribution of central government –

  • 50% of the total contribution or Rs.1000 per annum, whichever is less. The government participates in the contribution for a period of 5 years.
  • It is administered by the Pension Fund Regulatory and Development Authority (PFRDA). It is administered under the overall administrative and institutional framework of the National Pension System (NPS).

Desired Beneficiaries of Atal Pension Yojana: All bank account holders in the age group of 18 to 40 years.


  • The subscriber will get guaranteed minimum monthly pension of Rs 1,000 to Rs 5,000 per month after attaining the age of 60 years, depending on the contribution.
  • After the death of the subscriber, for the remaining period, till the original subscriber attains the age of 60 years, the spouse of the subscriber can continue to contribute to his APY account.
  • After the death of the spouse, the prescribed pension amount will be returned to the nominee by the original subscriber.
  • Contributors to APY are eligible for tax exemption similar to the National Pension Scheme (NPS).
  • Subscribers can contribute to APY on a monthly/quarterly/half-yearly basis.

Pension Fund Regulatory and Development Authority (PFRDA)

  • It is a statutory authority. It regulates, promotes and ensures systematic development of National Pension System (NPS) and other pension schemes.
  • All Indian citizens (resident/non-resident/foreigner) can join NPS on a voluntary basis. Employees of the corporate world can also participate in this.

Source – The Hindu

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