Atal Pension Yojana (APY) – Contribution and Benefit Calculator

Atal Pension Yojana (APY) is a pension scheme introduced by Government of India, for citizens of India. This scheme is mainly intended to address the pension needs of the unorganised working sector.

Atal Pension Yojana (APY) – Key features.
  • A guaranteed minimum pension of  Rs. 1000, 2000, 3000, 4000, and 5000 per month will be given at the age of 60 years depending on the contributions made by the subscribers.
  • Any Indian citizen who have a bank account and the age is between 18 and 40 years shall be eligible for this scheme.
  • Beneficiaries of any other social security scheme shall not be eligible for this scheme. (List of other social security schemes mentioned here is given later in this post.)
  • All the contributions are to be remitted in monthly mode through  auto debit facility from savings bank account of the subscriber.

Read More:  Atal Pension Yojana (APY) – Complete details

Atal Pension Yojana (APY) – Contribution and benefit calculator.
Atal Pension Yojana (APY) – Procedure for opening account
  1. Approach the bank branch/post office where individual’s savings bank account is held (open a savings account if the subscriber doesn’t have one.)
  2. Provide the Bank A/c number/ Post office savings bank account number and with the help of the Bank staff, fill up the APY registration form.
  3. Provide Aadhaar and Mobile Number. This is not mandatory, but may be provided to facilitate the communication regarding contribution.
  4. Ensure keeping the required balance in the savings bank account/ post office savings bank account for transfer of monthly / quarterly / half yearly contribution.

Read More:  Atal Pension Yojana (APY) – Complete details

 

Anish L J
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Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London. He is also a finance, insurance and software consultant with more than 20 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavor to provide simple and solid solutions in the Insurance and Finance sectors.
Anish L J
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