Atal Pension Yojana Calculator

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Properly planning for a financially secure retirement is crucial for individuals. The Atal Pension Yojana (APY) is a government-backed pension scheme designed to provide a regular income during one’s retirement years. Understanding the benefits and calculations associated with the APY scheme is essential for individuals considering this pension plan.

Let’s delve into the significant aspects of the Atal Pension Yojana and gain a comprehensive understanding of its features and importance.

What is the Atal Pension Yojana (APY)?

The Atal Pension Yojana (APY) is a government-initiated pension scheme aimed at providing a fixed monthly income to individuals during their retirement years. This voluntary scheme focuses on individuals working in the unorganized sector and provides them with a structured pension plan.

By enrolling in the APY, individuals can contribute towards a pension fund during their working years and receive a regular pension after attaining the age of 60. The scheme offers a range of pension amounts based on the individual’s contributions and age at the time of joining.

Understanding the workings of the Atal Pension Yojana is essential before making informed decisions about retirement planning.

How Does Atal Pension Yojana Calculator Work?

The APY calculator is based on compounding frequency, which determines the number of times the accumulated interest is paid out. With the help of an APY calculator, you would be able to understand how much monthly contribution you have to make to get the desired pension. Additionally, you would be able to view the total contribution you would end up contributing toward the scheme till you are 60.

Here’s how the APY calculator works:

  • Select your age on the calculator – Use the slide bar and select your age based on the time you plan to start or have started investing in the APY scheme.
  • Select the desired monthly pension : Choose the amount you would want to receive post-retirement.

When you select all of these requirements, the calculator will immediately display the calculated results for the monthly investment, investment duration, and the total investment amount.

How Does the Atal Pension Yojana Work?

The Atal Pension Yojana operates on a contributory basis, where individuals make regular contributions towards their pension fund. The key aspects of the scheme are as follows:

  1. Eligibility: The APY is available to all citizens of India between the ages of 18 and 40.
  2. Contribution Amount: The pension amount is determined based on the individual’s contribution amount, age at the time of joining, and the desired pension amount. Contributions can be made monthly, quarterly, or half-yearly.
  3. Pension Amounts: The APY offers five pension slabs ranging from ₹1,000 to ₹5,000 per month, depending on the individual’s contribution amount and age at entry. The pension amount is fixed and guaranteed by the government.
  4. Government Co-Contribution: The government provides a co-contribution of 50% of the total contribution or ₹1,000 per year (whichever is lower) for eligible subscribers for a period of five years from 2015-2020. This benefit is applicable to individuals who are not covered by any statutory social security scheme and are not income tax payers.
  5. Withdrawal and Exit: Individuals can exit the scheme before the age of 60, but the accumulated contribution will only be returned, without any interest. In the case of the subscriber’s demise, the accumulated pension wealth will be returned to the spouse or nominee.

Atal Pension Yojana Calculation Chart

The tables below show how much contribution you have to make and at/from what age to get the desired pension. You could choose to invest in the scheme on a monthly, quarterly or half-yearly basis.

The Computation for an Atal Pension Yojana of ₹1000

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 years42 years₹42₹1.7 lakh
19 years41 years₹46₹1.7 lakh
20 years40 years₹50₹1.7 lakh
21 years39 years₹54₹1.7 lakh
22 years38 years₹59₹1.7 lakh
23 years37 years₹64₹1.7 lakh
24 years36 years₹70₹1.7 lakh
25 years35 years₹76₹1.7 lakh
26 years34 years₹82₹1.7 lakh
27 years33 years₹90₹1.7 lakh
28 years32 years₹97₹1.7 lakh
29 years31 years₹106₹1.7 lakh
30 years30 years₹116₹1.7 lakh
31 years29 years₹126₹1.7 lakh
32 years28 years₹138₹1.7 lakh
33 years27 years₹151₹1.7 lakh
34 years26 years₹165₹1.7 lakh
35 years25 years₹181₹1.7 lakh
36 years24 years₹198₹1.7 lakh
37 years23 years₹218₹1.7 lakh
38 years22 years₹240₹1.7 lakh
39 years21 years₹264₹1.7 lakh

The Computation for an Atal Pension Yojana of ₹2000

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 years42 years₹84₹3.4 lakh
19 years41 years₹92₹3.4 lakh
20 years40 years₹100₹3.4 lakh
21 years39 years₹108₹3.4 lakh
22 years38 years₹117₹3.4 lakh
23 years37 years₹127₹3.4 lakh
24 years36 years₹139₹3.4 lakh
25 years35 years₹151₹3.4 lakh
26 years34 years₹164₹3.4 lakh
27 years33 years₹178₹3.4 lakh
28 years32 years₹194₹3.4 lakh
29 years31 years₹212₹3.4 lakh
30 years30 years₹231₹3.4 lakh
31 years29 years₹252₹3.4 lakh
32 years28 years₹276₹3.4 lakh
33 years27 years₹302₹3.4 lakh
34 years26 years₹330₹3.4 lakh
35 years25 years₹362₹3.4 lakh
36 years24 years₹396₹3.4 lakh
37 years23 years₹436₹3.4 lakh
38 years22 years₹480₹3.4 lakh
39 years21 years₹528₹3.4 lakh

The Computation for an Atal Pension Yojana of ₹3000

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 years42 years₹126₹5.1 lakh
19 years41 years₹138₹5.1 lakh
20 years40 years₹150₹5.1 lakh
21 years39 years₹162₹5.1 lakh
22 years38 years₹177₹5.1 lakh
23 years37 years₹192₹5.1 lakh
24 years36 years₹208₹5.1 lakh
25 years35 years₹226₹5.1 lakh
26 years34 years₹246₹5.1 lakh
27 years33 years₹268₹5.1 lakh
28 years32 years₹292₹5.1 lakh
29 years31 years₹318₹5.1 lakh
30 years30 years₹347₹5.1 lakh
31 years29 years₹379₹5.1 lakh
32 years28 years₹414₹5.1 lakh
33 years27 years₹453₹5.1 lakh
34 years26 years₹495₹5.1 lakh
35 years25 years₹543₹5.1 lakh
36 years24 years₹594₹5.1 lakh
37 years23 years₹654₹5.1 lakh
38 years22 years₹720₹5.1 lakh
39 years21 years₹792₹5.1 lakh

The Computation for an Atal Pension Yojana of ₹4000

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 years42 years₹168₹6.8 lakh
19 years41 years₹183₹6.8 lakh
20 years40 years₹198₹6.8 lakh
21 years39 years₹215₹6.8 lakh
22 years38 years₹234₹6.8 lakh
23 years37 years₹254₹6.8 lakh
24 years36 years₹277₹6.8 lakh
25 years35 years₹301₹6.8 lakh
26 years34 years₹327₹6.8 lakh
27 years33 years₹356₹6.8 lakh
28 years32 years₹388₹6.8 lakh
29 years31 years₹423₹6.8 lakh
30 years30 years₹462₹6.8 lakh
31 years29 years₹504₹6.8 lakh
32 years28 years₹551₹6.8 lakh
33 years27 years₹602₹6.8 lakh
34 years26 years₹659₹6.8 lakh
35 years25 years₹722₹6.8 lakh
36 years24 years₹792₹6.8 lakh
37 years23 years₹870₹6.8 lakh
38 years22 years₹957₹6.8 lakh
39 years21 years₹1,054₹6.8 lakh

The Computation for an Atal Pension Yojana of ₹5000

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 years42 years₹210₹8.5 lakh
19 years41 years₹228₹8.5 lakh
20 years40 years₹248₹8.5 lakh
21 years39 years₹269₹8.5 lakh
22 years38 years₹292₹8.5 lakh
23 years37 years₹318₹8.5 lakh
24 years36 years₹346₹8.5 lakh
25 years35 years₹376₹8.5 lakh
26 years34 years₹409₹8.5 lakh
27 years33 years₹446₹8.5 lakh
28 years32 years₹485₹8.5 lakh
29 years31 years₹529₹8.5 lakh
30 years30 years₹577₹8.5 lakh
31 years29 years₹630₹8.5 lakh
32 years28 years₹689₹8.5 lakh
33 years27 years₹752₹8.5 lakh
34 years26 years₹824₹8.5 lakh
35 years25 years₹902₹8.5 lakh
36 years24 years₹990₹8.5 lakh
37 years23 years₹1,087₹8.5 lakh
38 years22 years₹1,196₹8.5 lakh
39 years21 years₹1,318₹8.5 lakh
Note that these figures are merely indicative and are subject to change.

Contribution range according to age

Entry AgeYears of ContributionMonthly ContributionReturn to the nominee
18 yrs42 yrsRs.42Rs.1.7 lakh
19 yrs41 yrsRs.46Rs.1.7 lakh
20 yrs40 yrsRs.50Rs.1.7 lakh
21 yrs39 yrsRs.54Rs.1.7 lakh
22 yrs38 yrsRs.59Rs.1.7 lakh
23 yrs37 yrsRs.64Rs.1.7 lakh
24 yrs36 yrsRs.70Rs.1.7 lakh
25 yrs35 yrsRs.76Rs.1.7 lakh
26 yrs34 yrsRs.82Rs.1.7 lakh
27 yrs33 yrsRs.90Rs.1.7 lakh
28 yrs32 yrsRs.97Rs.1.7 lakh
29 yrs31 yrsRs.106Rs.1.7 lakh
30 yrs30 yrsRs.116Rs.1.7 lakh
31 yrs29 yrsRs.126Rs.1.7 lakh
32 yrs28 yrsRs.138Rs.1.7 lakh
33 yrs27 yrsRs.151Rs.1.7 lakh
34 yrs26 yrsRs.165Rs.1.7 lakh
35 yrs25 yrsRs.181Rs.1.7 lakh
36 yrs24 yrsRs.198Rs.1.7 lakh
37 yrs23 yrsRs.218Rs.1.7 lakh
38 yrs22 yrsRs.240Rs.1.7 lakh
39 yrs21 yrsRs.264Rs.1.7 lakh

Benefits of the Atal Pension Yojana

Enrolling in the Atal Pension Yojana offers several advantages for individuals planning for their retirement, including:

  1. Affordable and Accessible: The APY is designed to be affordable and accessible to individuals from the unorganized sector, providing them with a reliable pension plan.
  2. Guaranteed Pension: The scheme guarantees a fixed pension amount based on the contribution made, ensuring financial stability during retirement.
  3. Government Co-Contribution: Eligible subscribers can benefit from the government’s co-contribution, which supplements their pension savings and encourages long-term participation in the scheme.
  4. Flexibility in Contribution: Individuals can choose their contribution amount based on the desired pension slab, allowing them to align their savings with their retirement goals.
  5. Portability: The APY is a portable scheme, meaning subscribers can continue their contributions and benefits even if they change jobs or locations.

It is important to note that the APY is subject to certain terms and conditions set by the government. Individuals interested in joining the scheme should consult with their respective banks or financial institutions and thoroughly understand the requirements and benefits before enrolling.

By participating in the Atal Pension Yojana, individuals can secure a regular income stream during their retirement years and enjoy financial stability. However, it is advisable to explore other investment and pension options, conduct thorough research, and seek professional guidance to make informed decisions tailored to individual financial goals and circumstances.

Frequently Asked Questions

What is the Atal Pension Yojana (APY)?

The APY is a government-sponsored pension scheme aimed at providing a regular income to individuals during their retirement years.

Who is eligible to join the APY?

Any Indian citizen aged between 18 and 40 years can join the APY.

What are the contribution amounts and pension slabs in the APY?

The contribution amount varies based on the desired pension slab, ranging from ₹1,000 to ₹5,000 per month.

Is there any government co-contribution available in the APY?

Yes, eligible subscribers can avail a government co-contribution of 50% of the total contribution or ₹1,000 per year (whichever is lower) for a period of five years from 2015-2020.

Can I increase or decrease my contribution amount in the APY?

Yes, subscribers can modify their contribution amount once a year during the month of April.

What happens if I exit the APY before the age of 60?

In case of premature exit, only the accumulated contributions will be returned to the subscriber, without any interest earned.

Is the APY a portable scheme?

Yes, the APY is portable, which means subscribers can continue their contributions and benefits even if they change jobs or locations.

What happens to the APY account in the event of the subscriber’s demise?

In case of the subscriber’s demise, the accumulated pension wealth will be returned to the spouse or nominee.

Can I have multiple APY accounts?

No, a subscriber can have only one APY account.

Can I contribute to the APY after the age of 40?

No, the APY is open for enrollment only between the ages of 18 and 40.