The government offers a pension of ₹1,000 to ₹5,000. Find out if you can get it.

Atal Pension Yojana: By joining the Atal Pension Yojana, you can receive a monthly pension of ₹1,000 to ₹5,000 after retirement. Find out if you are among these people.

Atal Pension Yojana: After retirement, people often have this question: how will they meet their expenses? While employed, they continue to receive a salary, but after retirement, in old age, their source of income diminishes. Therefore, people want to receive a sufficient monthly pension to cover their daily expenses.

With this in mind, the Central Government launched the Atal Pension Yojana. Under this scheme, ordinary citizens deposit a fixed amount every month and, after retirement, receive a monthly pension of ₹1,000 to ₹5,000. Who can benefit from the Government of India's Atal Pension Yojana? Learn about the eligibility criteria.

Who receives a pension under the Atal Pension Yojana (APY)?

The Atal Pension Yojana (APY) was launched in 2015. Its purpose is to provide financial support to those working in the unorganized sector who lack access to post-retirement benefits. To join, you must be between 18 and 40 years of age. Upon joining the plan, you must deposit a fixed amount every month, depending on your age and the pension slab chosen.

Upon reaching the age of 60, you receive a monthly pension ranging from ₹1,000 to ₹5,000. In the event of the policyholder's death, the pension is paid to their spouse, and in the event of their death, the deposit amount is transferred to their nominee. If you are not already enrolled in any other pension plan, you can benefit from this plan.

How to Apply?

Investing in the Atal Pension Yojana (APY) is very easy. First, you must have a savings bank account. You will then need to go to your bank and fill out the Atal Pension Yojana form. Verification is done through Aadhaar card and mobile number, and the premium will be deducted every month through auto-deduction via ECS. The monthly installment will be determined based on the pension slab you choose to apply for. For example, if someone joins at the age of 20, they will only need to pay Rs 42 per month for a monthly pension of Rs 1,000. However, if they choose the Rs 5,000 pension slab, the premium will increase.