Atal Pension Yojana is new pension scheme launched by the Indian government. Under this scheme, every Indian can start their contribution to get a pension after retirement. Previously the government had pension plans for the people who work in the unorganized sectors where one can never save the money for retirement. The Atal Pension Yojana has guaranteed return money after 60 years, so this scheme is looking for a poor working class of the country.

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Atal Pension Yojana is not only guaranteed the money return also promises a contribution by the Indian government for every individual account to next 5 years. The main intention of this scheme is to ensure the men while working can save some money for their old age.

Atal Pension Yojana is replacing the Swavalamban scheme. The Indian government plans that transfer the existing Subscribers under Swavalamban scheme to Atal Pension Yojana automatically.

Atal Pension Yojana Eligibility:

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• All Indians are eligible to enroll in the scheme
• If the subscriber is covered APY by another social security scheme then that person cannot avail the contribution benefit of government
• The applicant age should be 18 to 40 years because there will be at least 20 years of subscription for APY before regular monthly pension starts for subscriber
• Aadhar card is used as the main document for your identification. It is the identification document for applicant nominees and spouse
• An active mobile number of a subscriber is recommended for the operation of the account. Applicants will receive SMS alerts to their number
• While closing this plan a person must be 60 years old. The person will be entitled to the monthly pension that they have contributed for.
• Applicant should maintain the valid bank account with a minimum balance on account every month