Atal Pension Yojana Extended by 5 Years: Secure Your Retirement with Up to Rs 5,000 Monthly

• The Atal Pension Yojana (APY) has been extended by the Union Cabinet for another five years, until FY2030-31.
• APY aims to provide old-age income security for low-income and unorganized-sector workers, offering a monthly pension of Rs 1,000 to Rs 5,000 after age 60.
• Eligible Indian citizens aged 18-40 with an active mobile number, bank account, and Aadhaar can apply; income tax payers are excluded.
• The scheme requires a minimum contribution period of 20 years; beneficiaries and their spouses receive pension until death, with nominees receiving the corpus thereafter.
• Application can be done via participating bank branches, post offices, or online through the NPS Trust website, with contributions starting as low as Rs 42 per month.

Why It Matters: Atal Pension Yojana extended till FY2030-31, offering financial security to unorganized sector workers.