Find
APY provides a guaranteed monthly pension of ₹1,000–₹5,000 from age 60 for workers in the unorganised sector. You choose the pension amount; contribution depends on age at joining and pension level chosen.
Government benefits · Social Security
Atal Pension Yojana: guaranteed pension for unorganised workers
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
PFRDA | APY scheme 2015 | Sec 124 (old 80CCD(1))
Analysis
Contribution examples (₹5,000/month pension): Join at 25 → ₹376/month. Join at 30 → ₹577/month. Join at 35 → ₹902/month. Join at 40 → ₹1,454/month. Every year you delay costs significantly more. Tax benefit: Contribution deductible under Sec 124, Income-tax Act 2025 (old Sec 80CCD(1)), part of the ₹1.5L Sec 123 (old Sec 80C) limit. Govt co-contribution (₹1,000/year for 5 years) available if you enrolled before March 2016 and were not an income tax payer. Who it's for: Domestic workers, auto drivers, shopkeepers, street vendors, agricultural labourers, anyone without organised sector pension.
Close
- Visit your bank branch (Savings Account required) or open via net banking/mobile banking
- Alternatively: Post offices participate via India Post Payments Bank
- Auto-debit set up from savings account, monthly or quarterly
- Nomination mandatory, spouse gets full corpus/pension on death
- Can upgrade pension level once per year in April-July window
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.