The APY was launched by Honourable Prime Minister of India on 09th May, 2015 and became operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40 years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 to Rs. 5000 per month from the age of 60 years, depending on their contributions, which depends on the age of the subscriber at the time of joining the APY. The Same amount of pension is paid to the spouse in case of subscriber’s demise. After the demise of both i.e. Subscriber & Spouse, the nominee would be paid the pension corpus. Option for Spouse to continue to contribute for balance period on premature death of subscriber before 60 years, so as to avail pension by Spouse. There are tax benefits at entry, accumulation and pension payment phases. If the actual returns on the pension contributions during the accumulation phase are higher than the assumed returns for the minimum guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced scheme benefits.


There are more than 41 lacs subscribers registered in the scheme till date.


With a view to promote and create awareness about the Atal Pension Yojana (APY) and improve the quality of service provided to the subscribers, PFRDA has decided to organize APY Service Fortnight from 1st February to 14th February 2017 by all the functionaries in the APY value chain across the country.


PFRDA seeks an active cooperation and involvement of all the APY service providers- Banks, Central Recordkeeping Agency etc.  during the APY Service fortnight.


The following activities are to be undertaken by the APY service providers during the APY Service Fortnight from 1st February to 14th February 2017:

  • Display of APY publicity materials-Posters and banners in the vicinity of the APY Service Provider branch
  • Distribution of publicity materials- APY Flyers / brochures to the prospective subscribers
  • Updation of subscriber contact details like mobile number, email id, address etc. in their PRAN
  • Updation of nominee details in APY account.
  • Collection of pending APY contributions
  • Funding the zero balance APY accounts, if any
  • Resolution of subscriber’s grievances.
  • Aadhaar Seeding of subscriber’s APY accounts (In view of inclusion of APY under the DBT Scheme)
  • Upgradation/Down gradation of Pension amount by subscribers in their APY Accounts
  • Modification/Correction of Date of Birth in APY accounts wherever necessary


PFRDA had offered capacity building assistance for Staffs/BCs of the banks and other promotional material assistance as well. Till date more than One Lac Bankers and Post Office officials were trained for APY and this exercise of PFRDA is an on-going activity. The APY scheme is being implemented through 235 APY-Service Providers all over the country consisting of 27 Public Sector banks, 19 private banks, 1 foreign bank, 56 regional rural banks, 109 district cooperative banks, 16 state cooperative banks, 6 urban cooperative banks and the department of posts.


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  1. Hi Subra, Do you think this is any good for middle class people?
    It may not be sufficient for even poor people who are say 30 years of age. 5000 per month would be like 500 rs per month after 30 years.

  2. I read somewhere that this scheme is not applicable for people who are already member of EFP, EPS or any other statutory pension scheme. Is that correct?

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