Atal Pension Yojana

  • The Atal Pension Yojana ((APY) is a Government of India Scheme launched on 9th May, 2015, with the objective of creating a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector.
  • Aim is to address the risks of old age of the people working in unorganized sector and who are not covered under any statutory social security scheme
  • APY became operational w.e.f. 1st June, 2015, and is open to all citizens of India between 18-40 years of age having a savings bank account in a bank or post-office.
  • APY is being administered by PFRDA which has taken several steps to create awareness about the scheme.