APY (Atal Pension Yojana) Calculator
How to Use the Atal Pension Yojana (APY) Calculator
The Atal Pension Yojana (APY) Calculator is a user-friendly tool designed to help you estimate your retirement pension benefits under the APY scheme, introduced by the Government of India. Simply enter your age, preferred monthly contribution, and target pension amount to instantly view your projected retirement corpus and effective annual yield.
This scheme is ideal for individuals working in the unorganized sector. It guarantees a monthly pension after the age of 60, based on your contributions and tenure. The calculator also accounts for potential government contributions available to eligible participants. Use it to confidently plan your retirement and ensure long-term financial security.
Examples
Example 1: Early Saver
Input: Age: 25, Monthly Contribution: ₹376, Desired Pension: ₹5,000/month
Output: Maturity Amount: ₹8,50,000, APY: 8.3%
A 25-year-old saving ₹376 every month can secure a monthly pension of ₹5,000 starting at age 60. The total retirement corpus would be approximately ₹8.5 lakh with an effective annual return of 8.3%.
Example 2: Mid-Life Planner
Input: Age: 35, Monthly Contribution: ₹902, Desired Pension: ₹5,000/month
Output: Maturity Amount: ₹8,50,000, APY: 7.2%
A 35-year-old contributing ₹902 monthly can also receive ₹5,000 as pension. However, the APY yield is slightly lower due to fewer years of investment.
Frequently Asked Questions
What is the Atal Pension Yojana (APY)?
The Atal Pension Yojana is a government-sponsored pension plan aimed at providing retirement income for unorganized sector workers in India. It guarantees a fixed monthly pension after retirement.
How is the pension calculated in APY?
The pension amount depends on your age at the time of enrollment, monthly contribution, and desired pension amount. Our calculator uses these inputs to estimate your maturity value and expected returns using compounding logic.
Who is eligible to apply for APY?
Any Indian citizen between 18 to 40 years of age with a savings bank account can apply for the APY scheme.
Does the government contribute to APY?
Yes, eligible subscribers may receive a government contribution of up to 50% of the total contribution or ₹1,000 annually, whichever is lower, for the first five years.