Atal Pension Yojana: Who Can Apply, Contribution Chart And Other Key Details

NDTV Profit Team

02 Apr 2019, 06:05 PM IST

Atal Pension Yojana: This PFRDA-regulated scheme enables subscribers to save for a fixed monthly pension

Government-run Atal Pension Yojana (APY), a pension scheme focused on the unorganised sector, offers a fixed, guaranteed minimum monthly pension to subscribers. The subscriber can opt for one of the five monthly pension options: Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 and Rs 5,000, according to regulator Pension Fund Regulatory and Development Authority (PFRDA)'s website - pfrda.org.in. Individuals between 18 and 40 years of age can set up an APY account, and contribute between Rs 42 and Rs 1,454 a month till the age of 60 to reach their pension goal, according to the PFRDA website.

Here's a comparison of the indicative contribution required by different age groups for the available monthly pension slabs under the Atal Pension scheme:

Age of entry	Contribution years	Monthly pension
Age of entry	Contribution years	Rs 1,000	Rs 2,000	Rs. 3,000	Rs. 4,000	Rs. 5,000
18	42	42	84	126	168	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	423	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1,087
38	22	240	480	720	957	1,196
39	21	264	528	792	1,054	1,318
40	20	291	582	873	1,164	1,454
(Source: nsdl.co.in)

(Also read: Key things to know about new pension scheme for unorganised workers)

While the pension amounts are fixed in the Atal pension scheme, the amount of contribution required by a subscriber depends on the age of entry.

According to financial experts, subscription to the Atal Pension Yojana (APY) at an early age maximises the benefit of the scheme by minimising the investment required to reach the desired goal.

Minimum investment required

One can invest in the Atal pension scheme through three modes of payment: monthly, quarterly and half-yearly. This means that the pension scheme requires the investor to make a minimum of two contributions every year.