Atal Pension Yojana

Atal Pension Yojana: Benefits, Eligibility, and Application Process

The Atal Pension Yojana (APY) is a flagship scheme launched by the Government of India to ensure financial security for workers in the unorganized sector during their retirement years. This initiative, introduced on May 9, 2015, by Prime Minister Narendra Modi in Kolkata, replaced the Swavalamban Yojana and is administered by the Pension Fund Regulatory and Development Authority (PFRDA).

What is Atal Pension Yojana?

Atal Pension Yojana is a government-backed pension scheme aimed at providing social security to individuals in the informal sector. This scheme ensures a fixed monthly pension ranging from Rs. 1,000 to Rs. 5,000 after the subscriber attains 60 years of age. Contributions to the scheme are made monthly, quarterly, or half-yearly based on the chosen pension amount and the subscriber’s entry age.