Atal Pension Yojana Extended to 2030-31: Key Features
Why in the news
The Cabinet under Narendra Modi cleared the scheme to run until 2030-31.
About Atal Pension Yojana
A voluntary, government-backed pension scheme that assures a monthly pension after 60, mainly for unorganised-sector workers who have no formal social security cover.
| Feature | Detail |
|---|---|
| Launched | 9 May 2015 |
| Administered by | PFRDA (Pension Fund Regulatory and Development Authority) |
| Delivered through | Banks and Post Offices |
| Pension slabs | Choice of ₹1,000 up to ₹5,000 per month after 60, in ₹1,000 steps |
| Eligibility | Indian citizens aged 18-40 holding a bank or post office savings account |
| Family security | Same pension to spouse after the subscriber’s death; corpus then returned to nominee |
Objectives
- Give the poor and informal workers old-age income security.
Exam angle
- Entry age: 18 to 40 years.
- Extension period: up to 2030-31.