Govt extends Atal Pension Yojana details in a big relief for crores of Indians, the Government of India has decided to continue the Atal Pension Yojana details (APY) till the financial year 2030–31. The Ministry of Finance announced that the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the extension of this popular monthly pension scheme.
Along with continuing the scheme, the government will also keep providing financial support for promotional and developmental activities. The aim is to reach more people working in the unorganised sector by spreading awareness, improving capacity building, and encouraging wider participation. In addition, gap funding will be extended to meet viability needs and ensure the long-term sustainability of the Atal Pension Yojana details, so that subscribers can continue to receive assured pension benefits without disruption.
Atal Pension Yojana Details
Atal Pension Yojana (APY) is an old age income security scheme for a savings account holder in the age group of 18-40 years who is not an income tax-payee. The scheme helps in addressing the longevity risks among the workers in the unorganized sector and encourages the workers to voluntarily save for their retirement. Focus of APY
Focus of APY: The scheme is mainly targeted at the poor, the under-privileged and workers in the unorganized sector.
You May Also Like this : Lado Lakshmi Yojana 2026: Complete Guide to Haryana’s ₹2100 Monthly
Benefit and Atal Pension Yojana (APY)
1. Guaranteed Lifetime Monthly Pension
- ₹1,000 per month
- ₹2,000 per month
- ₹3,000 per month
- ₹4,000 per month
- ₹5,000 per month
2. Lifelong Security for Your Spouse
The benefits don’t stop with the subscriber. In the event of the subscriber’s death, the spouse is guaranteed to receive the exact same pension amount every month for their entire life.
3. Return of Corpus to the Nominee
Safety for the third generation! After the demise of both the subscriber and the spouse, the total accumulated pension wealth (the corpus built until the age of 60) is returned to the nominee.
4. Triple Tax Benefits
- Section 80CCD(1): Contributions are eligible for deduction within the overall ₹1.5 lakh limit of Section 80C.
- Section 80CCD(1B): Enjoy an additional deduction of up to ₹50,000, over and above the ₹1.5 lakh limit.
- Tax-Free Gains: The interest accrued on your contributions is not taxed during the accumulation phase.
Flexible Exit Options
Exit on Maturity (At Age 60)
- 100% Annuitization: You get the full benefit of the monthly pension.
- Market Upside: If the actual returns on the investment are higher than the guaranteed rate, the subscriber receives an enhanced pension.
Benefits in Case of Death Before Age 60
If the subscriber passes away before reaching 60, the family has two powerful options:
- Option 1: Spouse Continues the Account The spouse can continue contributing to the same account for the remaining period. Once the (original) subscriber would have turned 60, the spouse starts receiving the monthly pension for life. This account is valid even if the spouse has their own separate APY account.
- Option 2: Immediate Corpus Refund The spouse or nominee can choose to close the account immediately and receive the entire accumulated pension corpus in a single lump sum.
Eligibility of Atal Pension Yojana (APY)
Age of joining and contribution period
- The minimum age of joining APY is 18 years and maximum is 40 years.
- The age of exit and start of pension is 60 years.
- Subscriber contribution to APY shall be made through the facility of ‘auto-debit’ of the prescribed contribution amount from the savings bank account of the subscriber on monthly, quarterly or half-yearly basis.
- The subscribers are required to contribute the prescribed contribution amount from the age of joining APY till the age of 60 years
Atal Pension Yojana details (APY) Application Process
Process 1: Net banking
- One can also open an APY account online using one’s Net banking facility.
- The applicant can login into his/her internet banking account and search for APY on dashboard.
- Customer has to fill basic and Nominee details.
- Customer has to give consent for auto debit of premium from the account and submit the form.
Process 2: Online eNPS Portal
1. Visit the eNPS Protean (formerly NSDL) website.
2. Click on “APY Registration”.
3. Provide your bank details (Account number and IFSC).
4. Complete your KYC using Aadhaar (Offline XML or OTP-based).
5. Select your pension slab and frequency.
6. Perform the e-Sign to finalize the registration.
Process 3: Offline via Bank Branch or Post Office
If you are not tech-savvy, you can visit any bank branch where you hold a savings account.
- Collect Form: Ask for the APY Registration Form from the help desk.
- Fill Details: Enter your bank account number, name, and mobile number.
- Aadhaar Linking: Provide a photocopy of your Aadhaar card (mandatory for identity verification).
- Authorization: Sign the section that authorizes the bank to auto-debit your contributions.
- Submit: Hand over the form to the bank official.
- Receipt: Collect the Acknowledgement Slip which will contain your PRAN.
FAQ of Atal Pension Yojana (APY)
Q1. When will I receive my Pension?
ANS. Age Of Start Of Pension is 60 Years.
Q2. Is it required to furnish nomination while joining the scheme?
ANS. Yes.
Q3. Is there any provision of default nominee or blood relation?
ANS. If the subscriber is unmarried they can nominate any other person as nominee and they have to provide spouse details after marriage. If married, the spouse will be the default nominee. The Aadhaar details of spouse and nominees may be provided.
Q4. Can I open APY Account without savings bank account?
ANS. No, the savings bank account/ post office savings bank account is mandatory for joining APY.
Q5. If I have completed 40 years, can I join Atal Pension Yojana?
ANS. A person can join APY till his/ her 40th birthday. For example, if person ‘X’ becomes 40 years old on 1st January 2023, then, he/she is eligible to join APY till 1st January 2023 and becomes ineligible from 2nd January 2023 to join the scheme.