Atal Pension Yojana (APY)
A Pension Scheme administered by the Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture.
The Government of India is concerned about the old age income security of the working poor and is focused on encouraging and enabling them to save for their retirement. To address the longevity risks among the workers in unorganized sector and to encourage the workers in unorganized sector to voluntarily save for their retirement
- Coverage: 18 years to 40 years
- Monthly Pension can be chosen from 1000, 2000, 3000, 4000, 5000
- Payment of Pension starts from the age of 60.
- After the beneficiary, his/her spouse will get the pension and after the death of the spouse the nominee will get a lump sum.