Everything you need to know about the Atal Pension Yojana

Launched in May 2015, the Atal Pension Yojana is an Indian government-backed pension scheme aimed towards providing retirement benefits to workers in the unorganised labour sector in India. The Pradhan Mantri Atal Pension Yojana is a replacement for the Swavalamban Yojana launched by the previous Congress-led government.

The Atal Pension Yojana is aimed to increase the number of pension subscribers in India, which covered only 20% of the total population as of May 2015.

What is Atal Pension Yojana?

The Atal Pension Yojana or APY scheme is aimed towards providing pension benefits to workers in the unorganised labour sector of India. This would typically include workers such as personal maids, car drivers, gardeners, or others from the weaker section of the society, who are currently not part of any government pension scheme. Also called as Atal pension scheme, it is currently administered by the Pension Fund Regulatory and Development Authority (or PFRDA) under the National Pension Scheme (or NPS).

This government scheme allows working individuals from the weaker section of the society to save money for their retirement and are assured of guaranteed returns after retirement. The APY scheme assures its subscribers of a fixed monthly pension on reaching the age of 60.


To be eligible for the Atal Pension Yojna, you must:

  • Be a citizen of India
  • Have a valid bank account
  • Be between the age of 18 to 40
  • Not be an income tax payer nor should be covered under any mandatory social security scheme.
  • Be able to contribute to the scheme for 20 years

While an Aadhar card or number is not required for APY registration, subscribers need to possess Aadhar for identification and verification purposes.

Features and Benefits

Among the many features of the Atal Pension Yojna plan, subscribers are assured of a monthly pension ranging from 1000/- to 5000/-, depending on the value of their monthly contribution to the pension scheme.

  • Subscribers joining the scheme at the age of 18 years can contribute to the scheme for a maximum of 42 years and must make a monthly contribution of 42/- (for a monthly pension of 1000/-) up to 210/- (for a monthly pension of 5000/-).
  • On the other hand, subscribers joining the scheme at the age of 39 years can contribute to the scheme for a maximum of 21 years and must make a monthly contribution of 264/- (for a monthly pension of 1000/-) up to 1318/- (for a monthly pension of 5000/-).

The following Atal Pension Yojana calculator table displays the monthly contributions to be made based on the age of entry and the selected pension amount.

Age of entry Contribution years Monthly pension of 1000/- Monthly pension of 2000/- Monthly pension of 3000/- Monthly pension of 4000/- Monthly pension of 5000/-
18 42 42 84 126 168 210
20 40 50 100 150 198 248
25 35 76 151 226 301 376
30 30 116 231 347 462 577
35 25 181 362 543 722 902
39 21 264 528 792 1054 1318


Depending on the value of the monthly pension amount (1000/- to 5000/-), subscribers can agree to pay the contribution amount. Additionally, after enrolling, subscribers can choose to increase (or decrease) their pension amount along with the contribution at any time during the plan. This change can be made once a year in the month of April.

In addition to the monthly contribution made by the subscriber, those who enrolled for this pension scheme before 31st December 2015 are also eligible for a co-contribution by the Indian government to the effect of 50% of the monthly amount (to a maximum of 1000/- annually). This co-contribution would continue for a period of 5 years from FY 2015-16 to FY 2019-20.

The Atal Pension Yojna benefits its customers by providing a guaranteed pension of 1000/- to a maximum of 5000/-. Other benefits include the continuation of the pension amount to the subscriber’s spouse (till his or her death) upon the death of the scheme subscriber. If the pension scheme subscriber should die before attaining the age of 60, his or her spouse can choose to either exit the scheme and claim the accumulated amount or continue to make a contribution for the remaining term of the scheme. In the latter case, the spouse of the expired subscriber will be eligible to receive the monthly pension amount until his or her death.

With regards to the APY withdrawal procedure, subscribers, on reaching the age of 60 years, must approach their bank or post office and submit an application request to avail of the monthly pension. Voluntary exit from this scheme is not allowed for subscribers, except in the event of any terminal disease or death occurring to the subscriber.

How to apply for the Atal Pension Yojna scheme

Eligible customers with a registered bank account are eligible to join the Atal Pension Yojna scheme. Subscribers can opt for an auto-debit facility towards paying their contribution on a monthly, quarterly, or half-yearly basis. Leading Indian banks such as ICICI Bank, SBI, and HDFC bank also offer internet banking facility for their customers to opt for the Atal pension yojana online apply and make their contribution.

The Atal Pension Yojana SBI customers can subscribe to the scheme by logging into their SBI savings bank account and navigating to the Social Security Scheme page from where they can select the Atal Pension Yojna scheme.

Eligible customers can approach their bank branch or post office to fill their details in the Atal Pension Yojana form. On the other hand, Atal Pension Yojna online customers can download and fill their APY form through their Internet banking facility.

Online customers of the APY scheme can also download and view their Atal Pension Yojana statement through the NPS platform. To do this, they need to enter their Permanent Retirement Account Number (or PRAN), which is allocated to every NPS account holder, along with their bank account details.