Atal Pension Yojana: How to get Rs 1K, 2K, 3K, 4K and 5K monthly pension under APY scheme

 


Atal Pension Yojana is one of the national pension schemes that is aimed at providing guaranteed monthly income to account holders. One can start investing at 18 years of age and can contribute until 60 years of age. The age for opening the APY account is between 18 and 40 years. Know how you can get a guaranteed monthly pension of Rs 1K, 2K, 3K, 4K and 5K under the APY scheme.

Atal Pension Yojana (APY): Retirement planning from an early age is important as it helps you achieve financial freedom at an early age. Secondly, it ensures you some monthly income in old age that decreases your dependency on others. With this view, the central government runs the Atal Pension Yojana, which gives a guaranteed income of Rs 1,000, 2,000, 3,000, 4,000, and 5,000 a month after one attains the age of 60. The pension you get depends on your monthly contributions before age 60. One can start investing money at the age of 18 and contribute until they are 60. However, only people aged 18–40 are eligible to open an APY account. The sooner you start, the lower your monthly contribution will be.

The scheme is very popular since it gives a guaranteed monthly income to crores of pension holders across India.

In this write-up, we will tell you, starting at 25 years of age, how much you have to contribute to get guaranteed pensions of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, and Rs 5000, respectively.

Before that, just have a look at some of the salient features of the Atal Pension Yojana.  

Atal Pension Yojana (APY): What is Atal Pension Yojana?

Atal Pension Yojana is a central government pension scheme aimed at aiding unorganised sector workers.

The pension scheme provides a monthy guaranteed pension.


One can start investing in the APY scheme at the age of 18 and can contribute up to the age of 60.

However, one can open an account only between the ages of 18 and 40.

The subscriber of the scheme can avail the benefit of the monthly scheme at the age of 60.

Atal Pension Yojana (APY): Who is eligible?

The APY pension account holder should be a citizen of India.

The age of the subscriber should be between 18 and 40 years.

They must have a bank account or a Post Office account.

The subscriber can provide the Aadhaar number and the mobile number to the bank during registration to facilitate the receipt of periodic updates on the APY account.

Atal Pension Yojana (APY): What is the benefit of joining APY?

The pension scheme provides guaranteed monthly income.

Even if actual realised returns on pension contributions are less than the assumed returns for the minimum guaranteed pension, such a shortfall will be funded by the government.

However, if the actual realised returns are higher than the assumed returns, the pensioners will be given the excess gains. 

How to get a Rs 1K, Rs 2K, Rs 3K, Rs 4K, and Rs 5K pension in Atal Pension Yojana?

Before starting calculations, we are assuming one starts contributing to APY at the age of 25.

Atal Pension Yojana (APY): How to get a Rs 1K monthly pension in APY?

To get a Rs 1,000 pension, your monthly contribution should be Rs 76, or Rs 226 quarterly, or Rs 449 half yearly. 

Atal Pension Yojana (APY): How to get Rs 2K monthly pension in APY?

To get a Rs 2,000 pension, your monthly contribution should be Rs 151, Rs 450 quarterly, or Rs 891 half yearly. 

Atal Pension Yojana (APY): How to get a Rs 3K monthly pension in APY?

To get a Rs 3,000 pension, your monthly contribution should be Rs 226, Rs 674 quarterly, or Rs 1334 half yearly. 

Atal Pension Yojana (APY): How to get a Rs 4K monthly pension in APY?

To get a Rs 4,000 pension, your monthly contribution should be Rs 301, or Rs 897 quarterly, or Rs 1776 half yearly. 

Atal Pension Yojana (APY): How to get a Rs 5K monthly pension in APY?

To get a Rs 5,000 pension, your monthly contribution should be Rs 376, Rs 1121 quarterly, or Rs 2219 half yearly.


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