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Atal Pension Yojana (APY) - Government Schemes in India

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  1. PFRDA identified 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme, with Number of APY subscribers crossing 86 Lacs mark. The list is topped by Canara Bank and it contains 6 Public sector banks, 14 Regional Rural Banks and 1 Cooperative Bank. More Here.



Pension Fund Regulatory and Development Authority (PFRDA) approved expansion of Atal Pension Yojana (APY) through operational Payments Banks and Small Finance Banks in India.

Participation in APY builds a pensioned society and adds sustainable fee income to Banks by way of attractive incentive for mobilizing APY @ Rs 120-150 for each Account. Currently, operational Small Finance Banks and Payment Banks are -

  1. Small Finance Banks - Ujjivan SFB, Janalakshmi SFB, Equitas SFB, A U SFB, Capital SFB, ESAF SFB, Utkarsh SFB, Suryoday SFB, Fincare SFB
  2. Payment Banks - Paytm PB, Airtel PB, India Post PB, Fino PB.
Official Release -

Atal Pension Yojana (APY)'s subscriber base reached 80 lakh with Uttar Pradesh as highest contributing state (11.41 lakh subscribers), followed by Bihar (8.87 lakh) and Tamil Nadu (6.60 lakh).

Pension Fund Regulatory and Development Authority (PFRDA) will conduct State specific APY mobilization Campaigns under name People First, to Increase APY Outreach.

Campaign is being launched from Uttar Pradesh with over 17,000 APY touch points (Including banks and post offices). 
  1. Atal Pension Yojana is a 2015 Relaunch of Swavalamban Yojana that was launched in 2010-11 as a Penison Scheme for unorganised sector. It was formally launched by PM Modi on 9 May, 2015 in Kolkata.
  2. In APY, for every contribution made to pension fund, Central Government also contributes 50% of total contribution or INR 1000 per annum (whichever is lower) for 5 years. Age of joining APY is 18 - 40 years and age of exit and start of pension is 60 years.
  3. Pension amount would be under INR 1000 - 5000 Per Month. Subcriber can change the pension amount during course of subscription. Switching pension amounts can be done once in an year, in April.
  4. Atal Pension Yojana as a pension scheme offers a guaranteed rate of 8 per cent assured return for the subscribers and also the opportunity of higher earnings in case the rate of return is higher than 8 per cent at the time of maturity after staying invested in the scheme for 20-42 years.
  5. At Present, Number of APY Subscribers is expected to be around 65 lakh.