Atal Pension Yojana Hits 90 Million Subscribers: Who Is Eligible To Open An APY Account?

The Atal Pension Yojana (APY) has crossed a staggering 90 million subscribers this year. Minister of State for finance Pankaj Chaudhary, while replying to questions regarding the social security scheme in Lok Sabha on August 3, 2026, said that the scheme has made a significant growth and currently has over Rs 57,296 crore worth of assets under management (AUM).

What Is Atal Pension Yojana?

The scheme was launched on May 9, 2015, to create a social security system for all Indians; however, it specifically targets the poor, underprivileged, and the unorganised sector workers. It is a defined contribution and defined benefit scheme where subscribers deposit a certain monthly amount per month to receive a fixed and guaranteed monthly pension. This pension can range from Rs 1,000-5,000 per month. Correspondingly, the monthly subscription amount varies from Rs 42 per month to Rs 1,454, depending on the age of the subscriber at the time of joining the scheme and the pension amount selected.

Subscribers become eligible to receive pension from the age of 60, provided all required contributions have been made.

Who Is Eligible To Open An APY Account?

The scheme is accessible to all Indian citizens who meet the following criteria.

• An individual must be between 18 and 40 years of age to be eligible for the scheme.

• The applicant must have a savings bank account with a bank or a post office.

• The applicant must not fall in the income taxpayer category.

Notably, until October 1, 2022, the third criteria didn’t exist, so anyone, whether a taxpayer or a non taxpayer could open an APY account, but since this date, APY accounts can be opened only for non-income taxpayers. In other words, anyone who is or has been an income taxpayer is not allowed to open an APY account from October 1, 2022.

But in case, a subscriber becomes an income taxpayer after this account has been opened, such subscriber may continue the APY contributions and remain eligible for pension benefits.

Further, if a subscriber joined the scheme on or before September 30, 2022, such subscriber will remain eligible to continue the account regardless of their current tax status.

In short, the applicant must not be an income taxpayer on the date of application.

During the enrolment, subscribers are asked to provide their mobile number to receive the periodic and other updates.

The APY and the National Pension System (NPS) are two social security schemes regulated by the Pension Fund Regulatory And Development Authority (PFRDA), and they are mutually inclusive. It means that existing NPS subscribers can also subscribe to APY, if they meet the basic eligibility requirements.

Where Is This Scheme Available?

The scheme is available across India and is even open to non-resident Indians (NRIs), upon meeting the criteria. One can open an APY account through public sector banks, private sector banks, regional rural banks (RRBs), small finance banks (SFBs), payment banks, cooperative banks, and the Department of Posts. The account can also be opened online.