Atal Pension Yojana (APY) is a pension scheme for citizens of India, focused on the unorganized sector workers
. The scheme is open to any citizen of India between the ages of 18-40 years, who has a savings bank account or post office savings bank account
. Under the APY, a guaranteed minimum pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers
. The co-contribution of the Government of India is available for 5 years, i.e., from the Financial Year 2015-16 to 2019-20 for the subscribers, who join the scheme during the period from 1st June, 2015 to 31st March, 2016 and who are not covered by any Statutory Social Security Scheme and are not income tax payers
. The scheme aims to provide people with a monthly income when they are no longer earning, ensuring a dignified life in old age
