APY Calculator

Calculate your contribution for the Atal Pension Yojana (APY) to secure a guaranteed monthly pension from the Government of India.

Plan Details

Entry Age18 Years

Min: 18Max: 40

Desired Monthly Pension

Contribution Frequency

Your Monthly Contribution

₹210

Payable for 42 years (until age 60)

Total Investment

₹1,05,840

Over 504 payments

Corpus to Nominee

₹8,50,000

Returned after subscriber & spouse

Investment vs Nominee Corpus

Understanding Atal Pension Yojana (APY)

The Atal Pension Yojana (APY) is a flagship social security scheme launched by the Government of India in 2015. It aims to provide a steady income stream to citizens in their old age, particularly those from the unorganized sector.

Guaranteed Pension

The scheme guarantees a minimum monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 from the age of 60, depending on the contributions made by the subscriber.

Triple Benefit Structure

1. Pension to the subscriber for life.
2. Same pension to the spouse after subscriber's death.
3. Return of the entire accumulated corpus to the nominee.

Important Rule Change (Oct 2022)

As per the Ministry of Finance notification, any citizen who is or has been an income taxpayer is not eligible to join the Atal Pension Yojana effective from October 1, 2022. If an income taxpayer joins on or after this date, the APY account will be closed and the accumulated wealth will be refunded.

Frequently Asked Questions

What is Atal Pension Yojana (APY)?

Atal Pension Yojana (APY) is a government-backed pension scheme in India primarily targeted at the unorganized sector. It provides a guaranteed minimum monthly pension ranging from ₹1,000 to ₹5,000 after the age of 60.

Who is eligible to join APY?

Any Indian citizen between the ages of 18 and 40 years with a savings bank account or post office savings account can join APY. Note: Effective October 1, 2022, any citizen who is or has been an income taxpayer is NOT eligible to join APY.

What happens to the pension after the subscriber's death?

If the subscriber dies, the same pension amount is paid to the spouse for life. After the death of both the subscriber and the spouse, the accumulated pension corpus (ranging from ₹1.7 Lakh to ₹8.5 Lakh depending on the pension amount) is returned to the nominee.

Are there any tax benefits for APY?

Yes, contributions made to APY are eligible for tax deduction under Section 80CCD(1) up to ₹1.5 Lakhs. An additional deduction of up to ₹50,000 is available under Section 80CCD(1B).

Can I upgrade or downgrade my pension amount?

Yes, subscribers can upgrade or downgrade their chosen pension amount once a year during the month of April. The contribution amount will be adjusted accordingly.

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