APY Calculator
Calculate your monthly contribution for Atal Pension Yojana and see guaranteed pension at age 60.
APY Details
APY Contribution Chart (Selected Pension)
| Entry Age | Yrs to 60 | ₹1,000/mo pension | ₹2,000/mo | ₹3,000/mo | ₹4,000/mo | ₹5,000/mo |
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What Is Atal Pension Yojana (APY)?
Atal Pension Yojana (APY) is a government-backed pension scheme launched in 2015, primarily targeted at workers in the unorganised sector. It guarantees a fixed monthly pension of ₹1,000 to ₹5,000 per month after age 60, depending on the contribution amount and age of joining.
Key Features
- Open to all Indian citizens between 18–40 years with a bank/post office savings account.
- Guaranteed pension of ₹1,000/₹2,000/₹3,000/₹4,000/₹5,000 per month from age 60.
- Government co-contribution: 50% of total contribution or ₹1,000/year (whichever is lower) for 5 years for accounts opened before March 2016 (if not covered by any statutory social security scheme).
- On death of subscriber: spouse receives same pension; on death of both, nominee receives corpus.
- Premature exit: allowed only in case of terminal illness or death of subscriber.
Who Should Invest in APY?
APY is ideal for self-employed workers, daily wage earners, domestic workers, and anyone in the informal sector who lacks access to employer-backed retirement benefits like EPF. It provides guaranteed pension security with very low monthly contributions for young entrants.
FAQ
Can I increase my APY pension amount later?
Yes. You can upgrade to a higher pension tier once a year (April only). Contribution increases accordingly based on your current age and new pension amount.
Is APY contribution tax-deductible?
Yes. APY contributions qualify for deduction under Section 80CCD(1) within the overall ₹1.5L limit of Section 80C. Additional ₹50,000 deduction under 80CCD(1B) is also applicable.
Can NRIs join APY?
No. APY is available only to Indian citizens aged 18–40 with a savings bank account. NRIs are not eligible.