APY (Atal Pension Yojana) Calculator

Atal Pension Yojana – Complete Information

we will learn about the Atal Pension Yojana. This is an important scheme launched by the Central Government. It provides pension to people working in the unorganized sector of our country India. At the age of 60, when we are unable to work, this scheme works to provide financial support by providing pension. This scheme was launched by the Prime Minister of our country, Shri Narendra Modi, on 9 May 2015. In this post, we will learn how to apply for this scheme? We will learn complete information about the terms and conditions and eligibility.

This scheme has been implemented by the Central Government of our country for the unorganized sector. This scheme is an important scheme. Which provides us with financial stability in old age. Initially, the Central Government was paying the same amount as the beneficiary was paying in this scheme, but this scheme is getting a lot of response, so now the Central Government has stopped its participation as the government could not pay this amount. In this Atal Pension Scheme, when this scheme was started, people with EPF accounts and tax payers could not take advantage of it, but now this condition has been removed, they will also be able to take advantage of it.

This Atal Pension Scheme is controlled by PFRDA. You have to choose a plan according to the amount you want in this scheme after 60 years. In this scheme, there is a premium chart to be paid according to your age and the pension you want, so choose the premium accordingly.

Atal Pension Yojana vs Other Pension Schemes: Income Comparison

How to participate in this scheme? How to participate in Atal Pension Scheme? :-

To participate in Atal Pension Yojana, you must have a bank account. To take advantage of Atal Pension Yojana, your age must be between 18 and 40. To take advantage of Atal Pension Yojana, your bank account must be linked with Aadhaar card. Also, the person who wants to apply under Atal Pension Yojana must have a mobile number. Under this atal pension scheme, you can avail the benefits by opening an Atal Pension Account in any nationalized bank as well as some private banks and post offices. Nomination is required for this bank account.

After that, you have to decide how much pension you want after 60 years. Accordingly, you have to deposit the amount. If you want more pension after 60 years, then you have to deposit the amount more. This amount is deducted from your bank account. If you have chosen a higher amount plan earlier and later you are not able to deposit the higher amount, you can change your plan. If you want to deposit more than the first amount, there is also a facility for that. You can go to your bank and fill the relevant form and make the change. For this, the bank may charge you a small charge.

Conditions for withdrawing money from Atal Pension Yojana:-

Under this Atal Pension Yojana, if the person who applies for the benefit under this Atal Pension Yojana dies, his husband or wife gets the pension. If both the husband and wife die, then the nominee gets the amount. The amount can be withdrawn in case of a serious illness of a person covered under the Atal Pension Scheme. We can also inform the nominee about the amount that can be withdrawn under this scheme. For more information about the Atal Pension Scheme, you can contact the toll free number 1800-110-069.atal pension scheme information in Marathi

This scheme has been implemented by the Central Government for the unorganized sector. This scheme is very important because it provides financial stability in old age. Initially, the government contributed an equal amount to the beneficiary's contribution, but due to the increasing number of subscribers, this contribution has been discontinued. Earlier, people with EPF accounts and taxpayers were not allowed to join this scheme, but now this restriction has been removed.

This Atal Pension Scheme is controlled by PFRDA. You have to choose a plan according to the pension amount you want after 60 years. There is a premium chart based on age and selected pension amount, so contributors must select the plan accordingly.

Pros & Cons of Atal Pension Yojana (APY)

How to Participate in Atal Pension Yojana?

To participate in Atal Pension Yojana, you must fulfill the following conditions:

• You must have a bank account.
• Your age must be between 18 and 40 years.
• Your bank account must be linked with Aadhaar.
• You must have a mobile number.

You can apply for Atal Pension Yojana in any nationalized bank, private bank, or post office. Nomination is mandatory for this account. After opening the account, you must choose the pension amount you want after 60 years. Based on that, you need to deposit monthly or yearly contributions, which will be auto-debited from your bank account.

If you selected a higher contribution plan earlier and later cannot pay, you can change the plan anytime by submitting a form in your bank. The bank may charge a small fee for this change.

Conditions for Withdrawal from Atal Pension Yojana

• If the subscriber dies, the spouse will receive the pension.
• If both the subscriber and spouse die, the nominee will receive the accumulated amount.
• Premature exit is allowed in case of serious illness.
• The nominee can receive the benefits after fulfilling necessary conditions.

For more details, you can contact the toll-free number: 1800-110-069.

Atal Pension Yojana – Application Process

Offline Application:

To apply offline, download the APY Subscriber Registration Form from the official website. Take a printout and visit your bank with all necessary documents such as:

• Aadhaar Card
• Voter ID
• Passport
• Driving License
• Mobile Number

The bank official will verify your documents and open your APY account.

Important Information About Atal Pension Yojana

Atal Pension Yojana (APY) is a pension scheme for Indian citizens, especially those working in the unorganized sector.

Both husband and wife can register under this scheme. If both invest ₹5000 every month, they can receive a combined pension of up to ₹10,000 per month after retirement.

Eligibility:

• Age must be between 18 and 40 years.
• Both must have savings accounts in a bank.
• Aadhaar is optional but helpful for receiving updates.

Pension Amount Options Under APY

Subscribers can receive guaranteed monthly pension of:

• ₹1000
• ₹2000
• ₹3000
• ₹4000
• ₹5000

The pension amount depends on contribution and age at entry.

Benefits of Atal Pension Yojana

• Provides financial security in old age.
• Guaranteed minimum pension between ₹1000 to ₹5000.
• Available to all Indian citizens between 18–40 years.
• The government contributes 50% of the investment or ₹1000 (whichever is lower) for eligible subscribers.
• Government contribution not applicable to income tax payers.

Mandatory Documents

• Indian citizenship
• Age between 18 and 40 years
• Savings bank account linked to Aadhaar
• Aadhaar card
• Mobile number
• Identity proof
• Permanent address proof
• Passport size photo

To apply, open a savings account and fill the Atal Pension Yojana form carefully. Submit it along with documents for verification. After approval, your APY account will be activated.

This scheme is an important step by the Central Government to support unorganized sector workers with financial security in old age. If you found this information useful, please share it and visit our website for more updates.

How is APY money invested?

Investment information is less relevant in APY compared to NPS because you receive a guaranteed pension. Investment returns only matter if the returns exceed the amount required to generate the guaranteed pension. In such cases, a higher pension amount or a larger payout to the nominee will be available upon the subscriber's death.

• Government Securities – Minimum 45% and Maximum 50%
• Debt Securities and Bank Term Deposits – Minimum 35% and Maximum 45%
• Equity and Related Instruments – Minimum 5% and Maximum 15%
• Asset-Backed Securities, etc. – Maximum 5%
• Money Market Instruments – Maximum 5%

NPS Swavalamban Scheme

The Swavalamban scheme was a government-backed pension scheme. This scheme was targeted at the unorganized sector in India. This scheme has been replaced by the Atal Pension Yojana (APY). Existing subscribers of the Swavalamban scheme were automatically transferred to APY. If the transfer did not happen, subscribers were allowed to contact the nearest authorized bank and convert their Swavalamban account to APY with APY details. If eligible, they received the government contribution only until 2016/2017. They were allowed to continue with the Swavalamban scheme until they reached the age of 60. Members of the Swavalamban scheme who were over 40 years of age and did not wish to remain in the scheme could withdraw their funds and exit.

Benefits

The Atal Pension Yojana offers several benefits to its subscribers. The key benefits of this government-backed pension scheme are as follows:

• A low-risk retirement option with benefits guaranteed by the Government of India.
• A fixed pension of ₹1000, ₹2000, ₹3000, ₹4000, or ₹5000 based on the contributions made by the subscriber. Guaranteed pension
• Contributions to APY are eligible for tax exemption under Section 80CCD (1) of the Income Tax Act, 1961.
• Subscription is easy for Indian residents, whether self-employed or salaried.
• APY also accepts subscriptions from those contributing to other private/government-backed pension schemes.
• APY guarantees future benefits for the spouse/nominee in case of the subscriber's death, as per applicable rules.
• The pension amount and subscription can be easily upgraded or downgraded based on the subscriber's choice.
• Contributions can be made monthly (1 month), quarterly (3 months), or half-yearly (6 months), making the scheme more convenient.
• APY membership is available for both organized and unorganized sector workers.

How to close an APY account

Closing an APY account and exiting the scheme is only permitted in cases of terminal illness or death. Upon the death of the scheme subscriber, the APY fund is paid in full to the nominee as per the information provided in the APY account opening form.

Government Co-contribution: To make APY more popular among unorganized sector workers, the government also provides a co-contribution. The government contributes 50% of your contribution or Rs. 1000 per year, whichever is less. The government will provide this co-contribution for five years, i.e., from the financial year 2015-16 to 2019-20. Members availing the co-contribution cannot be members of any statutory social security scheme and should not be paying income tax (i.e., their income should be below the income tax limit).

Atal Pension Yojana Calculation

The Atal Pension Yojana calculation is based on the following:

• The pension amount the applicant wishes to receive
• The age at which the applicant is registering for the scheme
• The above factors directly influence each other:

The monthly contribution is lower if you register for the scheme early. Example: If you join the scheme at the age of 18, you will have 42 years to reach your pension goal. Similarly, if you join the scheme at the age of 40, you will have 20 years to reach the final goal, but the monthly contribution amount will be higher in the latter case. The minimum contribution to receive Rs. 1000 as a pension amount at the age of 18 is Rs. 42 per month. The maximum contribution is Rs. 1454 for a pension amount of Rs. 5000 at the age of 40.

Below is a list of monthly (1 month), quarterly (3 months), and half-yearly (6 months) contributions required for the candidate to reach their desired goal:

Exiting before the age of 60:

If a customer who has availed the government's co-contribution under APY chooses to voluntarily exit APY in the future, only their contribution made to APY, along with the net actual earned income on their contribution after deducting account maintenance charges, will be returned. The government's co-contribution, and the income earned on the government's co-contribution, will not be returned to such customers.

Death of the customer before the age of 60: In case of the death of the customer before the age of 60, the spouse will have the option to continue the contributions in their name for the remaining period until the original customer would have attained the age of 60. The customer's spouse will be entitled to receive the same pension amount that was payable to the customer. Alternatively, the entire accumulated corpus under APY will be returned to the spouse/nominee.

Other important points related to the Atal Pension Yojana:

It is mandatory to provide nomination details in the APY account. If the customer is married, the spouse will be the default nominee. Unmarried customers can nominate any other person as a nominee, but after marriage, they will have to provide the spouse's details. Aadhaar details of the spouse and nominee can be provided. A customer can open only one APY account, and it is unique. Multiple accounts are not allowed. A customer can opt to increase or decrease the pension amount once during a year.

APY customers will be informed periodically through SMS alerts about PRAN activation, account balance, contribution credits, etc. The customer will also be provided with a physical statement of the account once a year. An annual physical statement of APY will also be provided to the customers. Contributions can be remitted seamlessly through auto-debit even in case of a change of residence/location. The scheme is only for Indian citizens. Customers can change the mode of the auto-debit facility (monthly/quarterly/half-yearly) once a year during the month of April.

APY vs NPS vs LIC Pension – Detailed Comparison

Comparison Point	APY (Atal Pension Yojana)	NPS (National Pension System)	LIC Pension Plans
Type of Scheme	Government-backed social security scheme	Market-linked pension scheme	Insurance-based pension plans
Best Suited For	Unorganized sector & low-income individuals	Salaried & self-employed with stable income	Financially stable individuals
Entry Age	18 – 40 years	18 – 70 years	Depends on the plan
Monthly Pension	₹1,000 – ₹5,000 (Guaranteed)	Not fixed (Market-dependent)	Limited & plan-specific
Risk Level	Zero risk	High (Market risk)	Low to moderate
Government Guarantee	Yes	No	Partial (depends on plan)
Tax Benefits	Limited	Yes (80C + 80CCD)	Limited
Benefit After Death	Spouse / Nominee receives benefits	Corpus transferred to nominee	As per plan terms
Inflation Protection	No inflation adjustment	Possible via market growth	Limited
Overall Verdict	Best for guaranteed, risk-free pension	Best for higher return seekers	Best for insurance + pension seekers

Frequently Asked Questions

When will I receive my Pension?

Age Of Start Of Pension is 60 Years.

What will happen if the contribution gets delayed?

Subscriber will be charged overdue interest for the delayed period in case the APY contribution gets delayed beyond the due date..

How will I know the status of my contribution?

You can check the status of your contribution by logging into your APY account.

If I have completed 40 years, can I join Atal Pension Yojana?

Yes, you can join Atal Pension Yojana after 40 years.

If I have completed 40 years, can I join Atal Pension Yojana?

Yes, you can join Atal Pension Yojana after 40 years.