Atal Pension Yojana Calculator

What is Atal Pension Yojana?

The Atal Pension Yojana (APY) is a government-backed pension scheme in India designed to provide financial security for individuals after retirement. It is primarily targeted at workers in the unorganized sector, ensuring a steady income during their retirement years.

APY Benefits & Eligibility

Eligibility: Indian citizens aged 18-39 with a savings bank account.

Guaranteed Pension: Receive a fixed pension of ₹1,000 to ₹5,000 per month after retirement.

Government Co-Contribution: Available for eligible individuals earning below ₹15,000 per month.

Tax Benefits: Contributions qualify for tax deductions under Section 80CCD.

How Does the APY Calculator Work?

Our APY calculator helps you determine the monthly contribution required based on your age and desired pension amount.

Example Case Study

Ramesh, a 28-year-old shopkeeper, wanted a pension of ₹5,000 per month post-retirement.

1️⃣ He started contributing ₹577 per month at age 28.

2️⃣ Over 32 years, he contributed a total of ₹2,21,064.

3️⃣ At 60, he began receiving ₹5,000 per month for life.

4️⃣ His spouse is also eligible for the pension after him.

Frequently Asked Questions (FAQs)

Can I change my contribution amount?

Yes, you can modify your contribution once per year.

What happens if I miss a payment?

A penalty is applied, and unpaid contributions will be deducted automatically from your bank account.

Can I exit the APY scheme early?

Yes, in cases of terminal illness or death, withdrawal is allowed.

Is APY better than a Fixed Deposit?

APY guarantees a lifelong pension, while FDs depend on market interest rates.