Atal Pension Yojana
The government has implemented some new rules to make the registration process in Atal Pension Yojana (APY) easier and safer. The Postal Department has issued an official notification stating that old forms are not being accepted for APY from October 1, 2025. Only the new revised form will be valid for new registration. This step has been taken as per the guidelines of the Pension Fund Regulatory and Development Authority (PFRDA) so that the pension and related services received by the people under the scheme can be better and organized.
What is Atal Pension Yojana?
Atal Pension Yojana is a social security scheme of the Government of India, which has been specially designed for the workers in the unorganized sector of the country. Any Indian citizen between 18 to 40 years can join this scheme. Under this scheme, members have the right to receive a monthly pension on completion of 60 years of age, which can range from a minimum of Rs 1,000 to Rs 5,000. The pension amount depends on the regular contributions made by the member. Its objective is to provide financial security to poor and middle class people in old age.
What changed under the new rules?
Now only the new form of registration will be accepted for the new APY, which comes with some important new information. This form contains the mandatory declaration of FATCA/CRS (relating to foreign taxation). This means that now the information about the foreign citizenship of the applicant will be taken so that the scheme is limited to Indian citizens only. Along with this, new APY accounts can be opened only through the post office as these accounts are linked to postal savings accounts. No new registration will be accepted from the old form after 30 September 2025.
Qualifications required for registration
To join Atal Pension Yojana, the age of the applicant should be between 18 to 40 years. Apart from this, the applicant must have a savings account in a bank or post office. Also, the applicant should not be a taxpayer. It is mandatory to provide Aadhar card and mobile number at the time of registration so that necessary updates related to the scheme can be received directly on the mobile.
Instructions to post offices and bank branches
The Postal Department has instructed all post offices across the country to use only the new revised APY form and make the public aware about it. Besides, information about this change will also be posted on the notice boards in all post offices so that everyone can be aware of this new rule.