Atal Pension Yojana Calculator
Calculate your Atal Pension Yojana (APY) contributions, returns, and guaranteed pension benefits. Plan your retirement with India's government-backed pension scheme.
APY Calculation Results
Investment Analysis
Benefits Summary
Eligibility: 18-40 years
Tax Benefits: 80C deduction
Risk Level: Government guaranteed
Note: Pension increases with inflation every 5 years
Understanding Atal Pension Yojana (APY)
Atal Pension Yojana (APY) is a government-backed pension scheme in India that provides guaranteed monthly pension to subscribers upon reaching age 60. Launched in 2015, it aims to provide social security to the unorganized sector workers.
APY Key Features
| Feature | Details | Benefits |
|---|---|---|
| Eligibility Age | 18-40 years | Early retirement planning |
| Pension Amount | ?1,000-?5,000/month | Guaranteed monthly income |
| Government Contribution | 50% for 5 years (max ?1,000/year) | Reduced contribution burden |
| Risk | Government guaranteed | 100% capital protection |
| Tax Benefits | Section 80C deduction | Tax savings on contributions |
Pension Tiers
APY offers five different pension amounts based on your desired monthly income at retirement.
- ?1,000/month: For basic retirement income needs
- ?2,000/month: Moderate retirement lifestyle
- ?3,000/month: Comfortable retirement living
- ?4,000/month: Higher retirement expectations
- ?5,000/month: Premium retirement lifestyle
Contribution Structure
Monthly contributions vary based on your age at entry and desired pension amount. The government co-contributes for the first 5 years.
- Age-based contributions: Younger subscribers pay less
- Government match: 50% of contribution (max ?1,000/year)
- Auto-debit: Contributions through bank account
- Flexible frequency: Monthly, quarterly, or annual payments
Benefits and Features
- Guaranteed Returns: Government-backed pension guarantee
- Inflation Adjustment: Pension increases every 5 years
- Death Benefit: Nominee gets accumulated corpus or ?1,70,000
- Loan Facility: Withdraw up to 75% of contributions after 3 years
- Tax Benefits: Contributions eligible under Section 80C
- Easy Withdrawal: Premature exit with accumulated amount
Eligibility and Enrollment
- Age Limit: 18-40 years for new subscribers
- Bank Account: Must have savings bank account
- Aadhaar Card: Mandatory for KYC
- Mobile Number: For OTP verification
- Nominee: Required for account opening
- Online Enrollment: Available through bank websites
Comparison with Other Schemes
- vs. NPS: APY offers guaranteed pension, NPS offers market returns
- vs. PPF: APY provides monthly pension, PPF offers lump sum
- vs. EPF: APY is voluntary, EPF is employer-employee contribution
- vs. Mutual Funds: APY has guaranteed returns, MFs have market risk
Important Considerations
- Lock-in Period: Funds locked until age 60
- Fixed Pension: No option to increase mid-way
- Death Before 60: Nominee gets corpus or ?1,70,000
- Bank Charges: Possible account maintenance fees
- Contribution Discipline: Regular payments required
- Inflation Impact: Pension increases only every 5 years
APY Advantage: Atal Pension Yojana provides government-guaranteed monthly pension with tax benefits, making it an excellent option for individuals seeking assured retirement income without market risk. The government co-contribution makes it even more attractive for younger subscribers.