Pension offers a definitive sense of security that makes retirement less dreadful. It is a source of income you can rely on for basic sustenance without unbalancing personal finances. Acknowledging that, the government of India launched the Atal Pension Yojana in 2015-16. 

Objective of the scheme

The primary objective of the scheme is to provide pension benefits to individuals in the unorganized sector and this scheme is basically regulated and controlled by the Pension Funds Regulatory Authority of India – PFRDA. 

Eligibility for the Atal Pension Yojana

In order to be eligible for the scheme, the applicant must be:

  • A citizen of India
  • Should be aged between 18-40 years
  • Have a saving account with a bank or with the post office of India

Monthly contribution for the Atal Pension Yojana

The Atal Pension Subscriber who is 18-years old needs to contribute ₹42 to ₹210 per month. The monthly contribution amount increments as the age of the Atal Pension subscriber increases as the years go by. The monthly amount is deducted from the subscriber’s registered bank account and it is done by an automatic debit facility. 

This auto-debit facility however is optional. 

If you do not opt-in for the auto-debit, any delay in the contribution is payable with an overdue interest of ₹1 per month. The minimum duration of contribution under the APY pension scheme is 20 years. 

Summing it up

Through the Atal Pension Yojana, people can invest in their future and be rest assured that they would get a definitive pension when they hit the resting years of their lives. It is just not another scheme; it is investing in your future. 


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