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 Atal Pension Yojana

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Atal Pension Yojana, formerly known as Swavalamban Yojana is a government-backed pension scheme in India, primarily targeted at the unorganized sector

-APY is open to all bank account holders in the age group of 18 to 40 years. Provided that from 1st October,2022, any citizen who is or has been an income-tax payer, shall not be eligible to join APY

 -Subscribers would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years.

-The monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.

- Subscribers can make contributions to APY on monthly/ quarterly / half-yearly basis.

 -Subscribers can voluntarily exit from APY subject to certain conditions, on deduction of Government co-contribution and return/interest thereon.

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