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It is a new initiative which was announced by the Finance Minister in his budget speech. Atal Pension Yojana or APY is a scheme for all those people of the unorganized sector, who wish to join the National Pension System and are not a member of any other social security scheme.

In simple words, it is focused for those people who work in private sector and wish to have a fixed amount of pension after their retirement. Under this scheme, a person can get a fixed pension of Rs. 1000/2000/3000/4000/5000 per month, at the age of 60 years. However, the amount depends on their own contribution which varies on the age of joining the scheme.

Benefits of Atal Pension Yojana:

It is the government who has taken the guarantee for giving benefits under this scheme. One of the most important part of this scheme is that, the central government will contribute 50% of the user’s contribution or Rs. 1000 per year for a period of 5 years.
This benefit of government’s contribution is limited to all those members only who will join the National Pension Scheme before 31stDecember 2015 and who are not income tax payers.

When will this scheme be launched?

It will be launched form 1st June 2015 and the existing members of the Swavalamban scheme would be automatically transferred to this scheme.


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Who all are eligible for this scheme?


It is open to all bank account holders and who are not a member of any statutory social security scheme. The minimum age for becoming a part of this scheme is 18 years and maximum age is 40 years which means the minimum period of contribution by you under this scheme would be 20 years or more.

How much do you need to contribute to get your pension under this scheme?

There are five plans under this scheme. You can avail any of the plan as per your choice. Each plan offers different pension at different age and you will have to contribute different amount of money. The monthly pension will be received by the user and his spouse. The indicative return which needs to be given to the nominee of subscriber is also mentioned in the table. For example: If you wish to get a pension of Rs. 3000 per month and you are 30 years old, then you will need to contribute Rs. 347 per month for 30 years.

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Source : POTOOLS

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