Atal Pension Yojana

Atal Pension Yojana (APY) is an Indian government-backed retirement savings scheme aimed at unorganized sector workers. Participants contribute monthly premiums during their working years, and upon reaching age 60, they receive a guaranteed pension from the government, which varies based on their contribution. The scheme encourages financial discipline and provides a stable income post-retirement, helping workers who lack employer-sponsored pension plans. It also offers benefits to the subscriber's spouse and, after their demise, to designated nominees, ensuring financial security during old age.