The Pension Fund Regulatory and Development Authority-regulated Atal Pension Yojana (APY) is a government-backed social security scheme designed to help citizens get a guaranteed monthly pension after retirement. Investors in APY can get up to Rs 5,000 monthly pension after the retirement age of 60.
Who can invest in APY?
APY is open to all citizens of India who have savings bank accounts. The minimum age to join APY is 18 years and the maximum is 40 years. From October 1, 2022, any citizen who is or has been an income taxpayer, is not eligible to join APY.
APY contributions
To join APY, you need to be at least 18-year-old, and the upper limit is 40 years. You exit the APY scheme and start receiving pension at 60. The amount you contribute to APY depends on how old you are when you sign up. Basically, the older you are when you join, the more you need to contribute each month.
Contributions to APY are 'auto-debited' from your savings bank account on a monthly, quarterly, or half-yearly basis. Once you join APY, you are expected to keep contributing the stipulated amount until you hit 60.
How to get Rs 1,000-Rs 5,000 monthly pension under Atal Pension Yojana
ET Wealth Online is sharing the monthly APY contributions needed to get Rs 1,000-Rs 5,000 monthly APY pension for subscribers aged 18, 20, 25, 30, 35 and 40 years. They need to make these monthly contributions till the age of 60 years.
Monthly APY contributions needed to get Rs 1,000/month pension at retirement for subscribers aged 18-40 years
| Age at entry | Vesting period | Rs 1000/month pension |
| 18 | 42 | Rs 42/month |
| 20 | 40 | Rs 50/month |
| 25 | 35 | Rs 76/month |
| 30 | 30 | Rs 116/month |
| 35 | 25 | Rs 181/month |
| 40 | 20 | Rs 291/month |
Monthly APY contributions required to get Rs 2,000/month pension at retirement for subscribers aged 18-40 years
| Age at entry | Vesting period | Rs 2000/month pension |
| 18 | 42 | Rs 84/month |
| 20 | 40 | Rs 100/month |
| 25 | 35 | Rs 151/month |
| 30 | 30 | Rs 231/month |
| 35 | 25 | Rs 362/month |
| 40 | 20 | Rs 582/month |
Monthly APY contributions required to get Rs 3,000/month pension at retirement for subscribers aged 18-40 years
| Age at entry | Vesting period | Rs 3000/month pension |
| 18 | 42 | Rs 126/month |
| 20 | 40 | Rs 150/month |
| 25 | 35 | Rs 226/month |
| 30 | 30 | Rs 347/month |
| 35 | 25 | Rs 543/month |
| 40 | 20 | Rs 873/month |
Monthly APY contributions required to get Rs 4,000/month pension at retirement for subscribers aged 18-40 years
| Age at entry | Vesting period | Rs 4000/month pension |
| 18 | 42 | Rs 168/month |
| 20 | 40 | Rs 198/month |
| 25 | 35 | Rs 301/month |
| 30 | 30 | Rs 462/month |
| 35 | 25 | Rs 722/month |
| 40 | 20 | Rs 1164/month |
Monthly APY contributions required to get Rs 5,000/month pension at retirement for subscribers aged 18-40 years
| Age at entry | Vesting period | Rs 5000/month pension |
| 18 | 42 | Rs 210/month |
| 20 | 40 | Rs 248/month |
| 25 | 35 | Rs 376/month |
| 30 | 30 | Rs 577/month |
| 35 | 25 | Rs 902/month |
| 40 | 20 | Rs 1454/month |
Who gets the pension after the death of an APY subscriber?
If the subscriber dies before reaching 60 years of age, their spouse can choose to continue contributing to the subscriber’s APY account for the remaining period until the subscriber would have turned 60. After that, the spouse will receive the same pension amount that the subscriber was entitled to, until the spouse’s death. After the death of both the subscriber and the spouse, the nominee will receive the accumulated pension corpus.
