Atal Pension Yojana (APY) has been announced in the budget speech for 2015-16 by Finance minister of Government of India.

Atal Pension Yojana – Government Guaranteed Pension Scheme for the Unorganized Sector

88% of India’s total labour force of 47.29 crore belongs to the unorganised sector, in which the workers do not have any formal provision of getting a regular pension payment on retirement. Moreover, due to increasing labour wages and better medical facilities, these people also face a risk of increasing longevity. So, this work force would require some kind of assured income guarantee to sustain itself in the coming years.

Launching Atal Pension Yojana (APY) from June 1, 2015

Under this scheme, a subscriber would receive a minimum fixed pension of Rs. 1,000 per month and in multiples of Rs. 1,000 per month thereafter, up to a maximum of Rs. 5,000 per month, depending on the subscriber’s contribution, which itself would vary on the age of joining this scheme.

Under this scheme, a subscriber would receive a minimum fixed pension of Rs. 1,000 per month and in multiples of Rs. 1,000 per month thereafter, up to a maximum of Rs. 5,000 per month, depending on the subscriber’s contribution, which itself would vary on the age of joining this scheme.

The minimum age of joining this scheme is 18 years and maximum age is 40 years. Pension payment will start at the age of 60 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

The Central Government would also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers. The existing subscribers of Swavalamban Scheme would be automatically migrated to APY, unless they opt out.

Download  ATAL PENSION YOJANA (APY) -  SUBSCRIBER REGISTRATION FORM

 http://www.pfrda.org.in/WriteReadData/Links/Subscriber%20registration%20form%20Atal%20Pension%20Yojana6299d692-1ecc-45a7-aeb0-993689337c19.pdf

Atal Pension Yojana – Contribution Period, Contribution Levels, Fixed Monthly Pension and Return of Corpus to the Nominees of Subscribers

Age of Joining (In Years)	Years of Contribution (In Years)	Monthly Contributionfor Pension ofRs. 1000	Monthly Contributionfor Pension ofRs. 2000	Monthly Contributionfor Pension ofRs. 3000	Monthly Contributionfor Pension ofRs. 4000	Monthly Contributionfor Pension ofRs. 5000
18	42	Rs. 42	Rs. 84	Rs. 126	Rs. 168	Rs. 210
20	40	Rs. 50	Rs. 100	Rs. 150	Rs. 198	Rs. 248
25	35	Rs. 76	Rs. 151	Rs. 226	Rs. 301	Rs. 376
30	30	Rs. 116	Rs. 231	Rs. 347	Rs. 462	Rs. 577
35	25	Rs. 181	Rs. 362	Rs. 543	Rs. 722	Rs. 902
40	20	Rs. 291	Rs. 582	Rs. 873	Rs. 1164	Rs. 1454
Corpus   at age of 60 years payable to the nominee of subscriber		1.7 Lakh	3.4 Lakh	5.1 Lakh	6.8 Lakh	8.5 Lakh

Refrence-:Press Information Bureau Government of India Ministry of Finance
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