Atal Pension Yojana (APY), a Government-backed pension scheme is open to all Indian citizens, and it mainly focuses on the unorganised sector. This scheme is managed by the Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension System (NPS). Under the APY scheme, the beneficiaries can avail minimum monthly pension ranging from Rs.1000 to Rs.5000.
The objective of Atal Pension Yojana (APY) is to focus on the unorganized sector such as House Help, Gardeners, Delivery Boys, etc. This scheme also ensures a sense of security and protection towards citizens from accidents, illness, diseases, etc.
The eligible criteria for APY (Atal Pension Yojana) are:
Age of the applicant should be between 18-40
Must make contributions for minimum of 20 years.
The applicant should have a bank account linked with Aadhar- KYC Compliant