ATAL Pension Yojana – Complete Details of APY Scheme

ATAL Pension Yojana

Details about Atal Pension Yojana Scheme – Introduction, eligibility, features, How to apply for the scheme, benefits, download application (joining) form.


There are lots of poor people among billions of Indian Citizens who consistently work but, can’t make use of any pension schemes due to lower income. With the leadership of Prime Minister, Shri Narendra Modi, the Indian government is concerned about financially weak people. At the time of Budget session, Finance Minister Shri Arun Jaitley Ji told about a new pension scheme, which had to be started. On 9th May 2015 along with two other schemes (Suraksha Bima Yojana Scheme and Jeevan Jyoti Yojana) Narendra Modi Ji Launched Atal Pension Yojana.

This project has been targeted towards the poor people. The motive behind Atal Pension Yojana is to make sure that people could get fixed amount for their basic needs when they get old. This article is entirely dedicated to providing complete information regarding this newly launched Atal Pension Yojana (Scheme). Along with the key points like eligibility, how to apply for it, amount to be paid, pension cost, and application form of Atal Pension Yojana.


The Indian Government is concerned about the old age income of the individuals in the country (especially the poor people). For addressing this issue, the government launched the Atal pension scheme, named after Sh. Atal Bihari Bajpai Ji to provide a certain annuity. The amount of pension to be received per month depends on the contribution made by the applicant. The people focused on this APY scheme are all the citizens in the unorganised sector. Under this latest pension scheme launched by the Indian government, the subscribers will receive fixed premium amount of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, and 5000 per month at the age of 60 years. The exact monthly amount to be received by the subscriber will, however, depend on their contribution.


  • Under this scheme, a guaranteed minimum monthly pension will be provided to the subscribers. The amount of pension will be from Rs. 1000 to Rs. 5000 per month.
  • The minimum benefit of pension will be guaranteed by the Government of India.
  • Most interesting part of the scheme is that the government will contribute 50% of the contribution made by the subscriber or Rs. 1000 whichever is lower.

Note: It is to be clear that this contribution by the government is available for only those who are not income tax payers and are not covered by any Statutory Social Security Schemes.

  • The 50% contribution to be paid by the government will be for 5 years.
  • Interested and eligible people must join the Atal Pension Yojana between 1st June to 31st December 2015.
  • Account holder of any bank is eligible to accede to the APY Scheme.


  • All India citizens aged between 18-40 years are eligible to join this scheme.
  • Aadhaar will be the initial KYC (Know your Customer) in this plan.


The procedure of applying for Atal Pension Yojana is as follows:

  • Visit your bank branch where your savings bank account exists.
  • Fill up APY Registration Form.
  • Provide your Aadhaar and Mobile Number.

Note – For this scheme, it is important that Aadhaar card should be linked with your bank account. If you want to know about linking Aadhaar card to the bank account, click here.

Make sure that required balance should exist in your bank account every month.

Downloading APY – Application/Enrollment/Registration Form

For downloading Atal Pension Yojana (APY scheme) joining Forms in Hindi, English, Gujrati, Bangala, Marathi, Kannada, Odia, Tamil and Telugu. Click here

Note: For the easier implementation of the scheme, Aadhaar card and mobile numbers are mandatory while applying. If Aadhaar card is not available during the joining process, it can be submitted later on also.


Consistent payment is significant, if the payment is not made on a constant basis, the following circumstances could happen:

▪   After 6 months – Account freeze.

▪   After 12 months – Account deactivated.

▪   after 24 months – Account closed permanently.

So, it is important for the subscribers to make sure that timely payment is made.


Case 1: After attaining 60 years.

▪   The subscriber of Atal Pension Yojana will be permitted to exit the scheme once they reach the age of 60 years.

▪   The exit from APY Scheme is authorised with 100% annuitization of pension wealth.

▪   Once the person exits the scheme, the pension will be available to the subscriber.

Case 2: In case of the death of the subscriber due to any cause, the pension would be given to the spouse.

Note: In the event of death of both subscriber and spouse, the pension would be provided to the legal nominee.

Case 3: Exit before 60 years of age.

Usually, the exit before 60 years is not permitted. However, it is allowed only in exceptional circumstances i.e. in the event of death of the beneficiary or Terminal disease.

We hope that this article clearly explained all the aspects of PM Atal Pension Yojana (Scheme), if you have any other query, kindly feel free to write it down.

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