Atal Pension Yojana (APY)

Introduction

• Atal Pension Yojana is a Monthly Pension Scheme of Department Of Financial Services under the Ministry Of Finance.
• It came into effect from 1st Of June 2015.
• Atal Pension Yojana is a voluntary and periodic contribution based pension scheme.
• Minimum Guaranteed Monthly Pension of Rs. 1,000, or Rs. 2,000, or Rs. 3,000, or Rs. 4,000, or Rs. 5,000 per month will be provided by Government of India under Atal Pension Yojana.
• Monthly Pension Amount received by subscriber is subject to contribution plan taken by him/ her.
• Pension under Atal Pension Yojana will starts when a person attain the age of 60 years.
• Pension Regulatory and Development Authority (PFRDA) administered the Atal Pension Yojana.
• Central Government will also contributed the same amount as contributed by the beneficiary.
• Subscriber of Atal Pension Yojana choose to contribute premium amount on Monthly, Quarterly and Half Yearly basis.
• Pension under Atal Pension Yojana will be provided to subscriber till his/ her death.
• Subscriber can also withdraw the whole contributed amount of Atal Pension Yojana anytime.
• Eligible Beneficiary can appy for Atal Pension Yojana by visiting any nearest Bank Branch.

Benefits of Scheme

• Following benefits are available for the Subscribers of Atal Pension Yojana :-

  Per Month Pension of Rs. 1,000/- to Rs. 5,000/- Central Government also contributed the same amount as contrubuted by the Subscriber. Pension will be Provided to Spouse in case of death of Pension Subscriber. If Pension Subscriber dies before attaining the age of 60 years, Spouse can choose any one option :- Withdraw the Entire Corpus Amount. Continue Contribution and Avail the Pension after Spouse turns 60 Years. Spouse of Original Subscriber will then receive pension till her/ his death. In case of death of both the Subscriber and his/ her spouse, the nominee mentioned by the subscriber gets the accumulated amount contributed by the subscriber.

Eligibility Criteria

• Beneficiary should be a Indian Resident.
• The Age of Beneficiary should be between 18 Years to 40 Years.
• Beneficiary should have Jandhan Bank Account or Saving Bank Account.
• Bank Account of Beneficiary should be linked with Aadhar Number and Mobile Number.

Key Features Of The Scheme

• Atal Pension Yojana is a social security scheme for all the citizens of India especially working in unorganized sector.
• It focused on working poor to encourage them to save for their old age.
• It's aim to encourage the workers of unorganized sector to voluntarily save for their retirement.
• On consent from the policy holder, the amount of contribution will be paid through autodebit mode from policy holder's account in a single installment.
• It is mandatory to make contribution in Atal Pension Yojana continuously from the age of joining to till the age of 60 years of the subscriber.
• A person who crosses the age of 40 years cannot register himself under Atal Pension Yojana.
• It is essential to link person's Aadhar Card and Mobile Number For Updates with his/her Bank Account.
• Enrollment under Atal Pension Yojana can avail through by filling a form in the Bank Branch at any time in the year.
• Some Banks also gave facility to their customers to apply online for Atal Pension Yojana.
• Through National Pension System Trust Portal, any person can Register himself/ herself to avail the benefit of Atal Pension Yojana.

Late Contribution Amount Charges Charged By Bank

• If any person under the Atal Pension Yojana delayed his/ her Monthly/ Quarterly/ HalfYearly contribution payments then Banks collects additional amount/ charges for delayed payments.

  Contribution By A Person	Amount Charged by Bank
  Rs. 100/- per month.	Rs. 1/- per month.
  Upto Rs. 101/- to Rs. 500/- per month.	Rs. 2/- per month.
  Between Rs. 501/- to Rs. 1000/- per month.	Rs. 5/- per month.
  Beyond Rs. 1001/- per month.	Rs. 10/- per month.

• If Subscriber Delayed Pension Premium Contribution of Atal Pension Yojana for a very long period of time then the Course Of Action Taken By Banks are as follows :-

  Delayed Time Period	Action Take
  For 6 Months	Account Will Be Frozen
  For 12 Months	Account Will Be Deactivated
  For 24 Months	Account Will Be Closed

Exit Guidelines Of Atal Pension Yojana

• Exit from Atal Pension Yojana before 60 years is not permitted.
• However, it is permitted only in exceptional circumstances for e.g. in the event of the death of the subscriber or in case of any terminal disease or specified illness.
• After attaining the age of 60 years exit from Atal Pension Yojana is permitted with 100 % annuitisation of pension wealth.
• Pension under Atal Pension Yojana starts when Beneficiary attain the Age of 60 Years.
• In case of exit due to the death of the subscriber, pension would be available to the spouse of the subscriber.
• In case of death of both the subscriber and the spouse, the pension corpus/ amount of Atal Pension Yojana would be returned to the nominee.

Monthly Contribution Under Atal Pension Yojana

• Beneficiary Contribution on Monthly Basis under Atal Pension Yojana are as follows :-

  		Pension Of Rs. 1000/- per month	Pension Of Rs. 2000/- per month	Pension Of Rs. 3000/- per month	Pension Of Rs. 4000/- per month	Pension Of Rs. 5000/- per month
  Return Of Corpus AmountTo The Nominee		Rs.1.7 Lakh	Rs. 3.4 Lakh	Rs. 5.1 Lakh	Rs. 6.8 Lakh	Rs. 8.5 Lakh
  Age Of Entry	Period Of Contribution (In Years)	Monthly Contribution (In Rs.)	Monthly Contribution (In Rs.)	Monthly Contribution (In Rs.)	Monthly Contribution (In Rs.)	Monthly Contribution (In Rs.)
  18	42	42	84	126	168	210
  19	41	46	92	138	183	228
  20	40	50	100	150	198	248
  21	39	54	108	162	215	269
  22	38	59	117	177	234	292
  23	37	64	127	192	254	318
  24	36	70	139	208	277	346
  25	35	76	151	226	301	376
  26	34	82	164	246	327	409
  27	33	90	178	268	356	446
  28	32	97	194	292	388	485
  29	31	106	212	318	423	529
  30	30	116	231	347	462	577
  31	29	126	252	379	504	630
  32	28	138	276	414	551	689
  33	27	151	302	453	602	752
  34	26	165	330	495	659	824
  35	25	181	362	543	722	902
  36	24	198	396	594	792	990
  37	23	218	436	654	870	1087
  38	22	240	480	720	957	1196
  39	21	264	528	792	1054	1318
  40	20	291	582	873	1164	1454

Quarterly Contribution Under Atal Pension Yojana

• Beneficiary Contribution on Quarterly Basic under Atal Pension Yojana are as follows :-

  		Pension Of Rs. 1000/- per month	Pension Of Rs. 2000/- per month	Pension Of Rs. 3000/- per month	Pension Of Rs. 4000/- per month	Pension Of Rs. 5000/- per month
  Return Of Corpus AmountTo The Nominee		Rs.1.7 Lakh	Rs. 3.4 Lakh	Rs. 5.1 Lakh	Rs. 6.8 Lakh	Rs. 8.5 Lakh
  Age Of Entry	Period Of Contribution (In Years)	Quarterly Contribution (In Rs.)	Quarterly Contribution (In Rs.)	Quarterly Contribution (In Rs.)	Quarterly Contribution (In Rs.)	Quarterly Contribution (In Rs.)
  18	42	125	250	376	501	626
  19	41	137	274	411	545	679
  20	40	149	298	447	590	739
  21	39	161	322	483	641	802
  22	38	176	349	527	697	870
  23	37	191	378	572	757	948
  24	36	209	414	620	826	1031
  25	35	226	450	674	897	1121
  26	34	244	489	733	975	1219
  27	33	268	530	799	1061	1329
  28	32	289	578	870	1156	1445
  29	31	316	632	948	1261	1577
  30	30	346	688	1034	1377	1720
  31	29	376	751	1129	1502	1878
  32	28	411	823	1234	1642	2053
  33	27	450	900	1350	1794	2241
  34	26	492	983	1475	1964	2456
  35	25	539	1079	1618	2152	2688
  36	24	590	1180	1770	2360	2950
  37	23	650	1299	1949	2593	3239
  38	22	715	1430	2146	2852	3564
  39	21	787	1574	2360	3141	3928
  40	20	867	1734	2602	3469	4333

Half Yearly Contribution Under Atal Pension Yojana

• Beneficiary Contribution on Half Yearly basis under Atal Pension Yojana are as follows :-

  		Pension Of Rs. 1000/- per month	Pension Of Rs. 2000/- per month	Pension Of Rs. 3000/- per month	Pension Of Rs. 4000/- per month	Pension Of Rs. 5000/- per month
  Return Of Corpus AmountTo The Nominee		Rs.1.7 Lakh	Rs. 3.4 Lakh	Rs. 5.1 Lakh	Rs. 6.8 Lakh	Rs. 8.5 Lakh
  Age Of Entry	Period Of Contribution (In Years)	Half Yearly Contribution (In Rs.)	Half Yearly Contribution (In Rs.)	Half Yearly Contribution (In Rs.)	Half Yearly Contribution (In Rs.)	Half Yearly Contribution (In Rs.)
  18	42	248	496	744	991	1239
  19	41	271	543	814	1080	1346
  20	40	295	590	885	1169	1464
  21	39	319	637	956	1269	1588
  22	38	348	690	1045	1381	1723
  23	37	378	749	1133	1499	1877
  24	36	413	820	1228	1635	2042
  25	35	449	891	1334	1776	2219
  26	34	484	968	1452	1930	2414
  27	33	531	1050	1582	2101	2632
  28	32	572	1145	1723	2290	2862
  29	31	626	1251	1877	1496	3122
  30	30	685	1363	2048	2727	3405
  31	29	744	1487	2237	2974	3718
  32	28	814	1629	2443	3252	4066
  33	27	891	1782	2673	3553	4438
  34	26	974	1948	2921	3889	4863
  35	25	1068	2136	3205	4261	5323
  36	24	1169	2337	3506	4674	5843
  37	23	1287	2573	3860	5134	6415
  38	22	1416	2833	4249	5648	7058
  39	21	1558	3116	4674	6220	7778
  40	20	1717	3435	5152	6869	8581

Application Forms

• Atal Pension Yojana English Form 1.
• Atal Pension Yojana English Form 2.
• Atal Pension Yojana Hindi (हिन्दी) Form.
• Atal Pension Yojana Bangla (বাংলা) Form.
• Atal Pension Yojana Gujarati (ગુજરાતી) Form.
• Atal Pension Yojana Kannada (ಕನ್ನಡ)F orm.
• Atal Pension Yojana Marathi (मराठी) Form.
• Atal Pension Yojana Odia (ଓଡ଼ିଆ) Form.
• Atal Pension Yojana Tamil (தமிழ்) Form.
• Atal Pension Yojana Telugu (తెలుగు) Form.
• Atal Pension Yojana Department Of Post Form (English).
• Atal Pension Yojana Account Closure Form (Death Case).
• Atal Pension Yojana Account Closure Form (Voluntary Exit).
• Atal Pension Yojana APY Modification Form.
• Atal Pension Yojana Aadhar Seeding Consent Form.

Important Links

• Atal Pension Yojana Online Registration.
• Jan-Dhan se Jan Suraksha Portal.
• Department Of Financial Services
• Atal Pension Yojana Guidelines.
• National Pension System Trust.
• Atal Pension Yojana Brochure.
• Atal Pension Yojana FAQs.

Contact Details

• Atal Pension Yojana Helpline Number :-
  • 18008891030.
  • 1800110069.
• National Toll Free Number of Atal Pension Yojana :-
  • 18001801111.
  • 1800110001.

State Toll Free Numbers of Atal Pension Yojana

• Following are the State Wise Toll Free Numbers of Atal Pension Yojana :-

  State Name	Convenor Bank	Toll Free Number
  Andhra Pradesh	Andhra Bank	18004258525
  Andaman & Nicobar Island	State Bank Of India	18003454545
  Arunachal Pradesh	State Bank Of India	18003453616
  Assam	State Bank Of India	18003453756
  Bihar	State Bank Of India	18003456195
  Chandigarh	Punjab National Bank	18001801111
  Chhattisgarh	State Bank of India	18002334358
  Dadra & Nagar Haveli	Dena Bank	1800225885
  Daman & Diu	Dena Bank	1800225885
  Delhi	Oriental Bank of Commerce	18001800124
  Goa	State Bank of India	18002333202
  Gujarat	Dena Bank	1800225885
  Haryana	Punjab National Bank	18001801111
  Himachal Pradesh	UCO Bank	18001808053
  Jharkhand	Bank of India	18003456576
  Karnataka	Syndicate BankSLBC	180042597777
  Kerala	Canara Bank	180042511222
  Lakshadweep	Syndicate Bank	180042597777
  Madhya Pradesh	Central Bank of India	18002334035
  Maharashtra	Bank of Maharashtra	18001022636
  Manipur	State Bank of India	18003453858
  Meghalaya	State Bank of India	1800 345 3658
  Mizoram	State Bank of India	18003453660
  Nagaland	State Bank of India	18003453708
  Odisha	UCO Bank	18003456551
  Puducherry	Indian Bank	180042500000
  Punjab	Punjab National Bank	18001801111
  Rajasthan	Bank of Baroda	18001806546
  Sikkim	State Bank of India	18003453256
  Telangana	State Bank of Hyderabad	18004258933
  Tamil Nadu	Indian Overseas Bank	18004254415
  Uttar Pradesh	Bank of Baroda	18001024455
  		1800223344
  Uttarakhand	State Bank of India	18001804167
  West Bengal and Tripura	United Bank of India	18003453343