APY Calculator
Calculate Atal Pension Yojana contribution for guaranteed monthly pension of ₹1,000 to ₹5,000 at age 60. Government-backed pension for unorganized sector workers.
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Entry age: 18-40 yearsGovernment-guaranteed pension at age 60
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About APY (Atal Pension Yojana)
APY is a government-backed pension scheme for unorganized sector workers. It guarantees fixed monthly pension of ₹1,000 to ₹5,000 at age 60 based on your contribution.
Key Features
- Entry Age: 18-40 years
- Pension Age: 60 years
- Pension Options: ₹1,000, ₹2,000, ₹3,000, ₹4,000, ₹5,000/month
- Government Co-contribution: 50% for 5 years (for eligible subscribers joining before Dec 2015)
- Auto-debit: From savings account
- Guaranteed: Government-backed pension amount
Eligibility
- Age: 18-40 years at time of joining
- Indian citizen
- Savings bank account
- Mobile number linked to Aadhaar
- Not covered under EPF/EPS/NPS Tier-I
- Not income tax payer
What Happens After 60?
- Subscriber alive: Gets monthly pension for life
- Subscriber dies: Spouse gets same pension for life
- Both die: Nominee gets accumulated corpus (pension wealth)
- Premature death (before 60): Spouse can continue or get refund with interest
Monthly Contribution by Age (for ₹5,000 pension)
| Age | Monthly | Age | Monthly |
|---|---|---|---|
| 18 | ₹210 | 30 | ₹577 |
| 20 | ₹248 | 35 | ₹902 |
| 25 | ₹376 | 40 | ₹1,454 |
💡 Younger you join, lower the contribution!
Tax Benefits
- 80CCD(1): Contributions eligible for deduction up to ₹1.5L (within overall 80C limit)
- Pension Income: Taxable as per income slab
- Corpus to Nominee: Tax-free
Premature Exit
- Before 60: Refund of contribution with/without interest (as per scheme rules)
- After 60: Cannot exit, pension continues for life
- Critical illness: Can exit with accumulated corpus
APY vs NPS
- APY: Fixed pension guaranteed, lower contribution, for unorganized sector
- NPS: Market-linked returns, higher corpus, tax benefit ₹2L, for all
- APY simpler, NPS offers more flexibility
- Can have both NPS (Tier-I) and APY? No, mutually exclusive
Important Points
- Auto-debit from bank — ensure sufficient balance
- Default penalty if contribution missed (restore account with penalty)
- Cannot increase/decrease pension amount once selected
- Can open only 1 APY account per person
- PRAN (Permanent Retirement Account Number) allotted
Who Should Choose APY?
- Unorganized sector workers (no EPF)
- Low-income individuals seeking guaranteed pension
- Risk-averse investors wanting government guarantee
- Those wanting simple, fixed pension (no market risk)