Atal pension Yojana is a government pension scheme for the unorganised sector in India. It was launched by Prime minister Narendra Modi on may 9, 2015.Till may 2015 only 20% of Indian population has any kind of pension scheme. Main aim of government is to increase this percentage.
Under this scheme
- Policy holder has to pay minimum ₹1000 per annum till 20 years.
- Policy holder will be provided with 50% of the total contribution which is provided by the central government.
Atal Pension Yojana
- The minimum age of joining Atal Pension Yojana is 18 years and maximum age is 40 years. The age of exit and start of pension would be 60 years.
- The national Aadhaar ID number is the primary document for identification.
- This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme and the contributions will be deducted automatically.
- The government aims to reduce the number of such zero balance accounts by using this and related schemes.
- For proof of address, individual can submit a copy of their ration card or bank passbook.
38.23 lakh subscribers enrolled under APY with a total pension wealth of Rs. 1344.70 crore as on 27th December, 2016; Rs.77,916.54 crore disbursed to 2.12 crore.
How to apply for Atal Pension Yojana?
- Visit any of the nationalised bank of your own bank.
- Download Forms from
- Fill up the form.
- Submit it to the bank.
- Provide a valid mobile number.
- Provide with self-attested Aadhar Card copy.
- Wait for confirmation on mobile phone.
Q1. What is Atal Pension Yojana?
Ans. Atal pension Yojana is a pension scheme for unorganised sector workers such as personal maids, drivers, gardeners etc.
Q2. Under this Scheme, where can I open an account?
Ans. Account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet.
Q3. How much amount will the government contribute at the time of withdrawal of Atal Pension yojana?Ans. The Central Government will co-contribute 50% of the total contribution or they will pay ₹1,000 (US$15) per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years.
Q4. What is the minimum age of joining Atal pension yojana?
Ans. The minimum age of joining APY is 18 years and maximum age is 40 years.
Q5. What is the age of exit and start of Pension in Atal Pension yojana?
Ans. The age of exit and start of pension would be 60 years.
Q6. What is minimum period of contribution by the subsciber under Atal Pension yojana?
Ans. minimum period of contribution by the subscriber under APY would be 20 years.
Q7. Which is the primary document to avoid any dispute in a long-term in Atal Pension yojana?
Ans. The national Aadhaar ID number is the main document for identification of the nominees and it also avoid entitlement-related disputes in the long-term.
Q8. What can we use as address proof in Atal Pension yojana?
Ans. proof of address, individual may submit a copy of their ration card or bank passbook.
Q9. Can an individual increase or decrease the amount during the course under Atal Pension yojana?
Ans. Yes, subscribers can opt to decrease or increase pension amount during the course, as per the available monthly pension amounts. But the option to switch is only provided once in year during the month of April.
Q10. Can I open Atal Pension Yojana Account without savings bank account?
Ans. No. , savings bank account is mandatory for joining APY .
Q11.What is the mode of contribution to the account under Atal Pension yojana?
Ans. All the contributions are to be remitted monthly through auto-debit facility from savings bank account of the subscriber.
Q12.How many Atal Pension Yojana accounts I can open?
Ans. A subscriber can open only one APY account and it is unique. Multiple accounts are notpermitted.
Q13. What will happen if a subscriber becomes non citizen of the country under Atal Pension yojana?
Ans. The scheme is open to citizen of the country only. Hence, in that event the APY A/c willbe closed and contribution will be returned back to the subscriber’s A/c.