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ATAL PENSION YOJANA Benefits illustration for

Contribution up to 60 Yrs BY Either Income-Tax Payer or Govt Social Security Scheme beneficiary.
No. Of Installments up to 60 years
Contribution Amount
Total Amount contributed
Contribution up to 60Yrs BY NON Income-Tax Payer and NON Govt Social Security Scheme beneficiary.
No. Of Installments up to 60 years
Contribution Amount
Total Self-Contribution amount
Govt Co-Contribution as you are not part of any benefits program and eligible only if you enroll by 31st December 2015.
Total Amount contributed
Income Receivable after Retirement; Assuming Retiree & Spouse lives for 20 years.
Pension Receivable Months 240
Monthly Pension Amount
Total Pension Amount Received
Nominee Receivable Lumpsum Amount
Total Earnings on Your Investments
Note: In case of retirement/eventuality spouse will receive pension. Later if both expire Nominee will receive the lumpsum amount.
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About APY

Minimum Investment,Maximum Benefits during old-age

Atal Pension
Yojana

Atal Pension Yojana (APY), a pension scheme for citizens of India focused on the unorganized sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

A Pension provides people with a monthly income when they are no longer earning.

The Official website of Atal Pension Yojana is http://www.jansuraksha.gov.in/

Need for Pension ?

  • a. Decreased income earning potential with age.
  • b. The rise of nuclear family-Migration of earning members.
  • c. Rise in cost of living.
  • d. Increased longevity.

Assured monthly income ensures dignified life in old age.

Indicative APY Contribution Chart (Agewise) Annexure 1:

ReadCount :  

Features of APY

  • Under APY, 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.
  • Under the APY, the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY.
  • Therefore, the benefit of minimum pension would be guaranteed by the Government. However, if higher investment returns are received on the contributions of subscribers of APY, higher pension would be paid to the subscribers.

Atal Pension Yojana

  • 18 years
  • 40 years
  • * A subscriber can open only one APY account and it is unique.

Frequently Ask Questions

Any Citizen of India can join APY scheme. The following are the eligibility criteria,

  • a. The age of the subscriber should be between 18 - 40 years.
  • b. He / She should have a savings bank account/ open a savings bank account.
  • c. The prospective applicant should be in possession of mobile number and its details are to be furnished to the bank during registration.

Beneficiaries who are covered under statutory social security schemes are not eligible to receive Government co-contribution. For example, members of the Social Security Schemes under the following enactments would not be eligible to receive Government co-contribution:

  • a. Employee's Provident Fund & Miscellaneous Provision Act, 1952.
  • b. The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
  • c. Assam Tea PlantationProvident Fund and Miscellaneous Provision Act, 1955.
  • d. Seamen's Provident Fund Act, 1966.
  • e. Jammu Kashmir Employee's Provident Fund & Miscellaneous Provision Act, 1961.
  • f. Any other statutory social security scheme.

The contributions under APY are invested as per the investment pattern specified by GoI.

  • a.G-Securities-Min-45% and up to 50%.
  • b.Debt Securities and term deposits of banks-Minimum 35% and up to 45%.
  • c.Money Market Instruments-Up to 5% .
  • d.Equity and related instrument Minimum 5% up to 15%.
  • e.Asset Backed Securities etc. – Up to 5 %.

Guaranteed minimum pension of Rs 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers. The benefit of minimum pension under Atal Pension Yojana would be guaranteed by the Government in the sense that if the actual realised returns on the pension contributions are less than the assumed returns, for minimum guaranteed pension, over the period of contribution, such shortfall shall be funded by the Government.

On the other hand, if the actual returns on the pension contributions are higher than the assumed returns for minimum guaranteed pension, over the period of contribution, such excess shall be credited to the subscriber’s account, resulting in enhanced scheme benefits to the subscribers.

The contributions under APY are invested as per the investment guidelines prescribed by Ministry of Finance, Government of India. The APY scheme is administered by PFRDA/GOVERNMENT.

a. Approach the bank branch where individual’s savings bank account is held.

b. Fill up the APY registration form.

c. Provide Aadhaar/Mobile Number.

d. Ensure keeping the required balance in the savings bank account for transfer of monthly contribution.

It is not mandatory to provide Aadhaar number for opening APY account. However, For enrolment, Aadhaar would be the primary KYC document for identification of beneficiaries, spouse and nominees to avoid pension rights and entitlement related disputes in the long-term.

No. For joining APY, savings bank account is mandatory.

All the contributions are to be remitted monthly through auto-debit facility from savings bank account of the subscriber.

The due date for monthly contribution will be as per the initial date of deposit of contribution into APY.

TNon-maintenance of required balance in the savings bank account for contribution on the specified date will be considered as default. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Re 1 per month to Rs 10/- per month as shown below:

  • a. Employee's Provident Fund & Miscellaneous Provision Act, 1952.
  • b. Re. 1 per month for contribution upto Rs. 100 per month.
  • c. Re. 2 per month for contribution upto Rs. 101 to 500/- per month.
  • d. Re 5 per month for contribution between Rs 501/- to 1000/- per month.
  • e. Rs 10 per month for contribution beyond Rs 1001/- per month.

Discontinuation of payments of contribution amount shall lead to following:
  • a. After 6 months account will be frozen.
  • b. After 12 months account will be deactivated.
  • c. After 24 months account will be closed.

Subscriber should ensure that the Bank account to be funded enough for auto debit of contribution amount.
The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.
Age of Joining Years of Contribution Indicative Monthly Contribution
18 42 42
20 40 50
25 35 76
30 30 116
35 25 181
40 20 291
All the contributions are to be remitted monthly through auto debit facility from savings bank account of the subscriber.
* For detailed age wise contribution refer Annexure 1.

Yes. It is mandatory to provide nominee details in APY account. The spouse details are also mandatory wherever applicable. Their adhaar details are also to be provided.

A subscriber can open only one APY account and it is unique.

The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, as per the available monthly pension amounts. However, the switching option shall be provided once in year during the month of April.

  • a. On attaining the age of 60 years:
    The exit from APY is permitted at the age with 100% annuitisation of pension wealth. On exit, pension would be available to the subscriber.
  • b. In case of death of the Subscriber due to any cause:
    In case of death of subscriber pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.
  • c. Exit Before the age of 60 Years:
    The Exit before age 60 would be permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.

The status of contributions will be intimated to the registered mobile number of the subscriber by way of periodical SMS alerts. The Subscriber will also be receiving physical Statement of Account.

Yes. Periodic statement of APY account will be provided to the subscribers.

The contributions may be remitted through auto debit uninterruptedly even in case of dislocation.

All the registered subscribers under Swavalamban Yojana aged between 18-40 yrs will be automatically migrated to APY with an option to opt out. However, the benefit of five years of Government Co-contribution under APY would be available only to the extent availed by the Swavalamban subscriber already. This would imply that if, as a Swavalamban beneficiary, he has received the benefit of government Co-Contributionof 1 year, then the Government co-contribution under APY would be available only for 4 years and so on. Existing Swavalamban beneficiaries opting out from the proposed APY will be given Government co-contribution till 2016-17, if eligible, and the NPS Swavalamban continued till such people attain the age of exit under that scheme.
Other subscribers above 40 years who do not wish to continue may opt out of the scheme with lump sum withdrawal.
Subscribers above 40 years may also opt to continue till the age of 60 years and eligible for annuities.
The existing Swavalamban scheme may be automatically migrated to APY

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