The Atal Pension Scheme (APS) is a government-backed initiative aimed at providing financial security to workers in the unorganized sector after retirement. Here’s exactly who benefits:
1. Target Beneficiaries
The scheme is primarily for citizens aged 18–40 years who:
Belong to the unorganized sector (workers without formal employment benefits).
Have a savings account linked to their Aadhaar.
Are willing to make regular contributions until they turn 60.
2. Monthly Pension Amount
Under APS, beneficiaries receive a fixed monthly pension after they turn 60. The government provides a pension ranging from ₹1,000 to ₹5,000 per month, depending on the contribution chosen during enrollment.
3. government Co-Contribution
For eligible subscribers:
The government co-contributes 25% of the total contribution or ₹1,000 per year, whichever is lower.
This support is provided for five years for those who joined the scheme between June 2015 and march 2016 and are not taxpayers.
4. Eligibility Criteria
To receive the pension:
Must be Indian citizens aged 18–40.
Must contribute regularly through the linked bank account.
Not required to be a taxpayer for government co-contribution.
5. When Pension Starts
The monthly pension starts once the subscriber reaches 60 years of age.
The amount depends on the contribution chosen and the age at which contributions started.
✅ In short: The Atal Pension Scheme gives a guaranteed monthly pension to unorganized sector workers who save regularly, with additional government support for those who are not taxpayers.
Disclaimer:
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