By investing in the Atal Pension Yojana, you can arrange a monthly pension of up to ₹ 5000 for yourself after the age of 60. Know here how to apply for this scheme and which documents will be required.

Atal Pension Yojana: If you want that even after the age of 60, you keep getting a fixed income every month, so that you do not have to depend on anyone, then the Atal Pension Yojana (APY) of the Central Government is very useful for you. This is a government pension scheme, in which you can get a guaranteed monthly pension of ₹ 1,000 to ₹ 5,000 in old age by depositing a very small amount every month. The pension amount is decided according to your investment. If you also want to make a sure arrangement of getting Rs 5,000 every month in old age through this scheme, then know the way to apply for this scheme and all the important things.

What is Atal Pension Yojana?

Atal Pension Yojana (APY) is a scheme launched by the Government of India especially for people working in the unorganised sector. Its main objective is to make people financially self-reliant in old age. In this scheme, you can invest from the age of 18 to 40 years and on completion of 60 years of age, you get a fixed pension every month according to your chosen plan. The scheme is operated by PFRDA (Pension Fund Regulatory and Development Authority).

Great Benefits of Atal Pension Yojana (APY Scheme)

Guaranteed Pension: This is a government pension scheme, so the pension received from it is fully guaranteed by the Government of India. Your money is completely safe.

Less investment, bigger benefit: The younger you start investing, the lower your monthly contribution will be.

Freedom to choose pension: You can choose a monthly pension of ₹1000, ₹2000, ₹3000, ₹4000 or ₹5000 as per your need.

Tax exemption: Investments made in Atal Pension Yojana are eligible for additional tax exemption of up to ₹50,000 under Section 80CCD (1B) of the Income Tax Act.

Benefit to nominee: If the pensioner dies after 60 years due to any reason, his pension amount will continue to be received by his spouse. If both die, the entire corpus deposited is returned to the nominee.

How much investment is required to get a pension of ₹5000? (APY Chart for ₹5000 Pension)

How to apply? (How to do APY Online and Offline)

It is very easy to apply for the Atal Pension Yojana. You can apply both online and offline.

1. Offline method (through bank or post office):

• Go to your nearest bank or post office branch where you have a savings account.
• Take the APY Registration Form from there.
• Fill in all the information asked in the form like name, address, Aadhaar number, mobile number and nominee details correctly.
• Submit the form along with a photocopy of your Aadhaar card and other required documents.
• Your APY account will be opened, and the contribution amount will be automatically debited from your account every month.

2. Online method (through net banking):

• You can also apply for APY online. For this, log in to your bank’s net banking.
• After logging in, look for the option of ‘Social Security Schemes’ or ‘APY’.
• Click on ‘Apply for APY’.
• Fill in the form with your details, pension option (₹5000) and nominee details.
• Submit the form and give your consent for auto-debit.
• Your registration will be completed, and you will get a PRAN (Permanent Retirement Account Number).

This is also the way to apply.

• First, go to the website https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
• From here, go to the Atal Pension Yojana tab and click on APY Registration.
• Fill out the New Registration form and click on Continue.
• After filling the form, fill in your details in Complete Pending Registration and complete KYC.
• After this, the Acknowledgement Number will be generated.
• Choose how much pension you want after the age of 60.
• Also, tell how to deduct the instalment monthly, quarterly, half-yearly or yearly.
• After this, fill out the nominee form correctly.
• After completing the process, you will come to the eSign tab on the NSDL website.
• After the Aadhaar OTP is verified, you will be connected to this scheme.

Which documents will be required? (Required Documents)

Bank Account Number

Aadhaar Card

Identity Proof

Age Proof – like 10th mark sheet or birth certificate

Address Proof

An active mobile number