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Dear Friends,

You can take print out of below form and reach nearby Post office to avail this guaranteed Pension Scheme @ very lowest premium

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APY Contribution Chart

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APY Tamil broacher :

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Here's the video everything you want to know about Atal Pension Yojana
- Best Guaranteed Pension Scheme bagged by Govt of India in detail in Tamil Language
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APY aims to help these workers save money for their old age while they are working and guarantees returns post retirement. The scheme also promises a co-contribution by Central Government of 50% of the total prescribed contribution by a worker, up to Rs. 1000 per annum, but only to those who joined APY before 31.12.2015. Further, this co-contribution would be made only for 5 years, from FY 2015-16 to 2019-20 in the eligible cases subject to conditions mentioned below.

You are eligible for the Atal Pension Yojana if you are:
1. An Indian citizen
2. Have a valid bank account
3. Are between 18 and 40 years of age.

What is the monthly contribution and mode of payment
APY is a periodic contribution based pension plan and promises a fixed monthly pension of Rs 1000/ Rs 2000/ Rs 3000/ Rs 4000 or Rs 5000. Your monthly contribution depends upon the fixed amount of monthly pension you want and the age when you start Contributions end and pension starts at 60 years of age. Therefore, even if you join APY at 40 years of age you need to pay premium for a minimum of 20 years to avail the pension. The following table elaborates on the monthly contributions based on your pension plan and age.


Benefits under APY
APY provides guaranteed pension of Rs 1,000 to Rs 5,000 (as explained above) to the subscribers. The scheme also allows a subscriber to decrease or increase pension amount during the course of accumulation phase, once an year.

In case of death of subscriber, the spouse of the subscriber shall be entitled for the same amount of pension till his or her death. And after the demise of both spouse and subscriber, the nominee will be entitled to receive the pension money that the subscriber had accumulated till 60 years of age.

However if the subscriber dies before 60 years, the spouse will have the choice to either exit the scheme and claim the accumulated amount or continue maintaining the account under the subscriber's name for the remaining vested years. The spouse of the subscriber shall be entitled to receive the same pension amount as the subscriber until death of the spouse in the latter case.

Restrictions on government contribution
However if you are a part of any other social security scheme and a tax payer, then you are not entitled for government contribution. For instance, members of the Social Security Schemes under the following enactments would not be eligible to receive Government co-contribution:

1. Employees' Provident Fund & Miscellaneous Provision Act, 1952.
2. The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
3. Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
4. Seamens' Provident Fund Act, 1966.
5. Jammu Kashmir Employees' Provident Fund & Miscellaneous Provision Act, 1961.
6. Any other statutory social security scheme.

How to apply
Approach the bank branch/post office where your savings bank account is held or open a savings account if you don't have one and fill up the APY registration form.


Penalties for default
Deduction would be made in the subscribers account for account maintenance charges and other related charges on a periodic basis. Once the account balance in the subscriber's account becomes zero due to deduction of account maintenance charges, fees and overdue interest, the account would be closed immediately. If there's a continuous default for 6 months,

Rs.1 per month for contribution upto Rs.100 per month.
Rs.2 per month for contribution upto Rs.101 to 500 per month.
Rs.5 per month for contribution between Rs.501 to 1000 per month.
Rs.10 per month for contribution beyond Rs.1001 per month.

Withdrawal procedure from APY
Upon completion of 60 years of age:
After attaining the age of 60 years, you need to get in touch with your respective bank or post office and submit the request for drawing the pension.
However, if in case of subscriber's death after 60 years, the same amount of monthly pension is payable to spouse (default nominee). Nominee will be eligible for return of pension wealth accumulated till age 60 of the subscriber upon death of both the subscriber and spouse.

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