Here is who can open an Atal Pension Yojana (APY) account, and what you need to have in place.
- Atal Pension Yojana (APY) is open to citizens of India. It is aimed mainly at unorganised sector workers who aren't covered by any other formal statutory social security scheme.
- You must be between 18 and 40 when you join (up to the day before your 40th birthday), and you need a savings account with a bank or the post office.
- Since 1 October 2022, anyone who is or has been an income-tax payer can't join. If such a person opens an account after that date, it is closed and the money paid in is refunded. People who joined on or before 30 September 2022 can carry on.
- Keep enough balance in your bank account for the auto-debit, so you don't pay overdue interest on a late contribution.
- Give your Aadhaar number when you open the Atal Pension Yojana (APY) account, if you can.
- Aadhaar isn't mandatory to join, but giving it helps the bank identify you and keep you updated.
- Give a mobile number so you get SMS alerts about your account.