Atal Pension Yojana Surpasses 7.65 Crore Subscribers: Benefits, Eligibility And How To Enroll

The Atal Pension Yojana (APY), a retirement scheme for the unorganised sector, has witnessed remarkable growth, enrolling more than 7.65 crore subscribers as of April 2025. The total assets under management have also grown, with the pension corpus now standing at Rs 45,974.67 crore, according to data from the Pension Fund Regulatory and Development Authority (PFRDA).

Introduced in June 2015, the Atal Pension Yojana was designed to provide financial security during retirement, especially for workers in the unorganised sector. The scheme is regulated by the PFRDA and functions under the broader National Pension System (NPS) framework.

A shift in recent years has been the increasing participation of women, who now make up 48% of the total subscriber base. As per reports, more than 55% of new registrations in FY 2024-25 came from women.

The Atal Pension Yojana ensures a fixed monthly pension to its subscribers once they turn 60. Depending on the contribution, subscribers can receive Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 or Rs 5,000 per month. Contributions are made over a minimum period of 20 years and are determined by the subscriber’s age and the pension amount they choose. Those who join at a younger age contribute smaller amounts compared to those who enroll later.

Eligibility:

• Must be an Indian citizen

• Age should be between 18 and 40

• Maintain a savings account linked to their Aadhaar number

• Have a valid mobile number

• Commit to contributing for at least 20 years

It’s important to note that since Oct. 1, 2022, income taxpayers are no longer permitted to enroll in the scheme.

There are two ways to enroll in the Atal Pension Yojana — online and offline:

Online method:

• You can apply through your bank’s internet banking portal, provided the feature is available.

• After logging in, locate the APY section and complete the registration process.

• During registration, you can opt for an auto-debit facility.

• Auto-debit allows contributions to be deducted automatically on a monthly, quarterly, or half-yearly basis until you reach the age of 60.

• You need to maintain sufficient balance in your account to prevent missed payments or default on contributions.

Offline method:

• If you prefer the offline method, you need to collect the forms from your bank branch or post office.

• Complete the application form and attach a photocopy of your Aadhaar card.

• Submit the documents at the respective bank branch or post office.

• After approval, you will receive a confirmation message on your registered mobile number.

To open an Atal Pension Yojana account, here’s what you need to do:

• Visit the bank or post office where you hold a savings account, or open one if needed.

• Fill in the Atal Pension Yojana registration form with assistance from bank staff.

• Provide your Aadhaar ID and mobile number.

• Ensure your account maintains sufficient funds for automatic deductions.

• Contributions are debited at regular intervals — monthly, quarterly or half-yearly — based on your preference.

Though the government initially offered a co-contribution for early adopters, from June 2015 to March 2016, that benefit is no longer available. 

In the event of a subscriber’s death, the spouse becomes eligible to receive the pension. If both the subscriber and spouse pass away, the nominee inherits the accumulated pension corpus.

While early exit from the scheme is allowed, any government co-contribution previously received will be forfeited in this case.