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Government Schemes

What is the withdrawal procedure from APY?

  1. On attaining the age of 60 years: The exit from APY is permitted at the age with 100% annuitisation of pension wealth. On exit, pension would be available to the subscriber.
  2. In case of death of the Subscriber due to any cause: In case of death of subscriber pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.
  3. Exit Before the age of 60 Years: The Exit before age 60 would be permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.

How will I know the status of my contribution?

The status of contributions will be intimated to the registered mobile number of the subscriber by way of periodical SMS alerts. The Subscriber can also generate the statement online on :-

How many APY accounts I can open?

A subscriber can open only one APY account and it is unique.

How much pension will be received under APY?

Guaranteed minimum pension of Rs 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Is it required to furnish nomination while joining the scheme?

Yes. It is mandatory to provide nominee details in APY account. The spouse details are also mandatory wherever applicable.

Can I open APY Account without savings bank account?

No. For joining APY, savings bank account is mandatory.

What is the procedure for opening APY Account?

You can subscribe for Atal Pension Yojana (APY) through any of the following channels:

Internet Banking: 
Login to your Internet Banking Account > Customer Service > Service Request > Bank accounts > Enroll for Atal Pension Yojana

ICICI Bank branch:
Please visit the nearest ICICI Bank branch along with your valid ID proof. To locate the nearest ICICI Bank branch, visit

For more information on Atal Pension Yojana (APY), please click here

Who are the other social security schemes beneficiaries ?

  • Employees’ Provident Fund & Miscellaneous Provision Act, 1952.
  • The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
  • Assam Tea PlantationProvident Fund and Miscellaneous Provision, 1955.
  • Seamens’ Provident Fund Act, 1966.
  • Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act, 1961.
  • Any other statutory social security scheme

What is the due date for monthly/quarterly/half-yearly contribution?

The due date for initial contribution will be T+2 where T is date of registration. The due date for regular contribution for recovery of monthly/quarterly/half-yearly contribution may be treated as the first day or any day in the, calendar month/first month of quarter/first month of half-year for each subscriber.

How are contributions of APY invested?

The contributions under APY are invested as per the investment guidelines prescribed by Ministry of Finance, Government of India. The APY scheme is administered by PFRDA/GOVERNMENT.

Who can subscribe to APY?

Any Citizen of India can join APY scheme. The following are the eligibility criteria,

  1. The age of the subscriber should be between 18 - 39 years and 364 days
  2. He / She should have a savings bank account/ open a savings bank account
  3. The prospective applicant should be in possession of mobile number and its details are to be furnished to the bank during registration.

What is Atal Pension Yojana

Atal Pension Yojana (APY), a pension scheme for citizens of India focusses on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

If I move my residence/city, how can I make contributions to APY account?

The contributions may be remitted through auto debit uninterruptedly even in case of dislocation.

What is the mode of contribution to the account?

All the contributions are to be remitted, through auto-debit facility from savings bank account of the subscriber.

Will there be any option to increase or decrease the monthly contribution for higher or lower pension amount?

The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, as per the available monthly pension amounts. However, the switching option shall be provided only once in a financial year.

What will happen if required or sufficient amount is not maintained in the savings bank account for contribution on the due date?

Non-maintenance of required balance in the savings bank account for contribution on the specified date will be considered as default. Banks are required to collect additional amount for delayed payments, such amount will be Re 1 per month for every 100 Rs. Contribution or part thereof. The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.