Atal Pension Yojana (APY) is a Government of India scheme run by the Pension Fund Regulatory and Development Authority (PFRDA) through the National Pension System (NPS).
The idea behind Atal Pension Yojana (APY) is to get people to save small amounts during their working years so they can draw a pension in old age.
Atal Pension Yojana (APY) is a defined benefit scheme. It pays a fixed minimum pension of Rs 1000 to Rs 5000 a month.
When the scheme was launched in 2015, the Government of India also added 50% of the subscriber's contribution or Rs. 1000 a year, whichever was lower, to encourage people in the unorganised sector to save for their old age. That co-contribution was only for people who joined between 1 June 2015 and 31 March 2016, and it was paid for 5 years, from 2015-16 to 2019-20. It has ended, so anyone joining today pays the full contribution themselves.
When you join Atal Pension Yojana, you choose the monthly pension you want from the retirement age of 60. The pension you pick decides how much you pay each month. Our APY contribution chart shows the monthly amount for each age and pension level.
For example: someone who opts for a Rs 1000/- pension pays less each month than someone who opts for a Rs 5000/- pension. Pick the pension amount based on what you earn and how much you can save. If your situation changes later, you can switch to a higher or lower pension once a year.