Upon turning 60, the member will start receiving the following three benefits:Guaranteed minimum pension amount: At reaching the age of 60, each APY subscriber will get a minimum pension from the Government of India of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, or Rs. 5000 per month, till death.
Guaranteed minimum pension amount for the spouse: Following the death of the subscriber, the spouse will be entitled to receive the same pension as the subscriber, up until the spouse’s death.
Return of the pension wealth to the subscriber’s nominee: The nominee of the subscriber is entitled to receive the pension wealth, as accumulated up until the subscriber’s 60th birthday, upon the death of both the subscriber and the spouse.