Atal Pension Yojana (APY)

In simple words

A pension scheme for people aged 18 to 40 with a savings bank or post office account.

What you may get

A guaranteed monthly pension of Rs 1,000, 2,000, 3,000, 4,000 or 5,000 from age 60, as chosen. The same pension may go to the spouse after the subscriber's death.

Who it is for

People aged 18 to 40 who are not income tax payers and have a savings account.

Main eligibility conditions

• Age 18 to 40.
• Savings bank or post office account needed.
• Income tax payers cannot open new accounts from 1 October 2022.

Conditions we could not check

• Income tax payers cannot open a new account from 1 October 2022.
• A savings bank or post office savings account is needed.
• Contribution depends on age at joining, pension slab and payment frequency.

Who may not qualify

• Income tax payers cannot open a new account from 1 October 2022.
• Persons below 18 or above 40.

Documents you may need

We could not confirm a document list. Check the official source.

How to apply

1. Go to the bank branch or post office where you have your savings account.
2. Choose a pension amount and how often you will pay.
3. Digital enrolment (e-APY) is also offered.

Where to go

Bank or post office branch where you hold the account (or post office)

What to take

• Savings bank or post office account details

What to do there

1. Ask for the APY form.
2. Choose pension amount and payment frequency.

Application fee

We could not confirm an application fee.

Application dates

• Current deadline could not be confirmed. Check the official source.