Atal Pension Yojana (APY) — Benefits, Eligibility & How to Apply (2026)

Overview

The Atal Pension Yojana (APY) is a government-backed pension scheme focused on workers in the unorganised sector — shopkeepers, drivers, maids, delivery partners, gig workers. You contribute a small amount every month between ages 18–40, and from age 60 you receive a guaranteed monthly pension of ₹1,000 / ₹2,000 / ₹3,000 / ₹4,000 / ₹5,000, as chosen by you at the time of joining.

Launched: 2015 For: Indian citizens 18–40 (unorganised sector)

Key Benefits

• Fixed monthly pension from age 60 (you choose the slab).
• Spouse gets the same pension after subscriber's death.
• Nominee receives the accumulated corpus (~₹1.7L–₹8.5L) after both die.
• Contribution increases if you join later — join at 18 for lowest contribution.
• Premium can be auto-debited monthly / quarterly / half-yearly from your savings account.
• Tax benefit: contribution qualifies under Section 80CCD(1B) for additional ₹50,000 deduction (over and above 80C).

Eligibility

• Age 18–40 years at the time of joining.
• Must have an active savings bank / PMJDY account.
• Aadhaar should be seeded with the bank account.
• Not eligible: income tax payers (from Oct 2022 — only non tax-payers can join APY).

Documents Required

• Aadhaar
• Mobile number
• Savings bank account details
• Nominee details (name, DOB, relation)

How to Apply — Step by Step

1. Visit your bank branch (any bank) or log in to your net banking / mobile banking app.
2. Search for 'Atal Pension Yojana' — online form appears.
3. Select pension amount, contribution frequency, and nominee.
4. Accept auto-debit mandate.
5. Receive APY PRAN (Permanent Retirement Account Number).

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