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Digital Subscription of Atal Pension Yojana

Published on Saturday, June 24, 2017

To extend the benefits of the Atal pension Yojana Scheme (APY), to the Citizens of India, Pension Fund Regulatory and Development Authority (PFRDA), the administrative Authority for Atal Pension Yojana (APY) has taken several steps.
One of which is, any subscriber who has internet banking facility of a bank can enroll for APY without submitting physical application form.
To completely digitize the APY enrolment, PFRDA, Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS”. This step is proposed to cover the people, who are still unaware about the scheme.
eNPS platform has been used for NPS subscriptions and this will be further expanded to make subscription under APY , so that the subscriber can enroll to the scheme conveniently in a digital environment , without submission of physical form and without visiting bank or post office.


  • To encourage the workers in unorganized sector to voluntarily save for their retirement and to provide a minimum guaranteed monthly pension, The APY scheme was announced by the Government of India in 2015-2016 budget. 
  • The scheme was launched on 9th May, 2015 by the Prime Minister of India, Shri Narendra Modi and became operational from 1st June, 2015. 
  • APY is available for all citizens of India in the age group of 18-40 years, who are account holders in a bank or post office. 
  • Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 , Rs. 2000, Rs. 3000, Rs. 4000 or Rs. 5000 per month, at the age of 60 years, depending on their contributions. 
  • The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture. 
  • The benefit of minimum pension would be guaranteed by the Government of India(GoI) 
  • GoI will also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower. Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes and who are not income tax payers. 
  • GoI will co-contribute to each eligible subscriber, for a period of 5 years who joins the scheme between the period 1st June, 2015 to 31st December, 2015. 
  • Aadhaar will be the primary KYC document. Aadhar and mobile number are recommended to be obtained from subscribers for the ease of operation of the scheme. 
  • The monthly payment to APY is automatically deducted from the bank account through which the APY was enrolled. The customer needs to maintain a minimum balance for automatic debit or will be penalised by banks. 
  • After 6 months of discontinuation of payments of contribution amount , the account will be frozen. After 12 months of discontinuation, the account will be deactivated and after 24 months the account will be closed 
  • Already 54 lakh people of our country are subscribers of APY. Among them 63 % enrolled through Public sector banks, 23 % through Regional rural banks and the remaining through private banks, co-operative banks and post office. 
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