Atal Pension Yojana Calculator
Calculate APY contribution and return.
Your Age
Desired Monthly Pension
Corpus at 60
₹8,50,000
APY Calculator – Atal Pension Yojana helper
Atal Pension Yojana (APY) is a social security scheme for unorganized sector workers, providing a guaranteed minimum pension.
The APY Calculator determines the monthly contribution required to achieve your desired pension amount.
What is a APY Calculator?
It finds the contribution amount based on your entry age and chosen pension slab (₹1000 to ₹5000).
The earlier you join, the lower the contribution.
How does this APY Calculator work?
The calculator uses the following formula:
Contribution depends on Entry Age & Pension Slab
- The government has defined specific monthly contribution amounts based on your age (18-40).
- You choose a pension slab (₹1,000 to ₹5,000).
- The calculator looks up the standard contribution chart to find your exact monthly investment.
- The scheme matures at age 60, ensuring a guaranteed pension.
How to use this APY Calculator effectively
- Enter your current age.
- Select the desired monthly pension.
- The tool tells you how much you need to invest monthly.
Commonly asked questions
What is Atal Pension Yojana (APY)?
APY is a government-backed pension scheme targeted at the unorganized sector to provide a guaranteed monthly pension.
Who is eligible for APY?
Any Indian citizen between the age of 18 and 40 years having a savings bank account is eligible.
What is the pension amount?
Subscribers can choose a fixed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 after the age of 60.
When does the contribution stop?
You need to contribute until you attain the age of 60 years.
What happens if I miss a contribution?
A penalty is levied for delayed payments, ranging from ₹1 to ₹10 per month depending on the contribution amount.
Is the pension taxable?
The pension received is taxable as per the slab rates of the individual.
Is there a tax benefit on contribution?
Yes, contributions are eligible for tax deduction under Section 80CCD(1) and additional benefit under 80CCD(1B).
Can I exit before 60?
Voluntary exit is permitted, but only the accumulated contributions and interest are refunded. Government contribution is returned only in case of terminal illness or death.
What happens in case of death?
If the subscriber dies, the pension is paid to the spouse. If both die, the corpus is returned to the nominee.
Can I change the pension amount?
Yes, you can upgrade or downgrade the pension amount once in a financial year.
How many APY accounts can I have?
You can have only one APY account.
Is it mandatory to have a bank account?
Yes, a savings bank account is mandatory for auto-debit of contributions.
Does the government contribute?
The government co-contribution (50% or ₹1,000) was available for those who joined before March 31, 2016, for 5 years.
Can income tax payers join APY?
Since Oct 1, 2022, income tax payers are not eligible to join APY.
What is the mode of payment?
Contributions are auto-debited from your savings account monthly, quarterly, or half-yearly.
How to check APY balance?
You can check the balance via the APY mobile app or the NSDL CRA website.
Is nomination mandatory?
Yes, nominee details are required at the time of registration.
What if I become an NRI?
You can continue the account, but if you close the bank account, the APY account will also be closed.
Can I increase contribution to get higher pension?
The maximum guaranteed pension is ₹5,000. You cannot contribute more for a higher government-guaranteed pension.
Is Aadhaar required?
Aadhaar is not mandatory but recommended as the primary KYC document.