APY

Atal Pension Yojana (APY) is a Government of India pension scheme, primarily targeted at workers in the unorganised sector, guaranteeing a fixed monthly pension after age 60 based on the subscriber's contribution and age at entry.

Eligibility

• Age 18 to 40 years, with a savings bank account.
• Not a member of any other statutory social security scheme (e.g. EPF, NPS) with government contribution.

Benefits

• Guaranteed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000 or ₹5,000 after age 60, as chosen at enrolment.
• On the subscriber's death, pension is paid to the spouse; on both deaths, the accumulated corpus is paid to the nominee.

Contribution

• Monthly/quarterly/half-yearly contribution amount depends on the age at entry and pension slab chosen, auto-debited from the linked account.