Investing In Atal Pension Scheme (APY)? Here's How Much Contribution You Need To Make
Atal Pension Yojana (APY) is a pension scheme focused on the unorganised sector. The pension scheme - Atal Pension Yojana - allows persons between 18 and 40 years of age to invest for up to 20 years to earn a fixed monthly pension of Rs 1,000-Rs 5,000 after attaining retirement - at age 60 years, according to regulator Pension Fund Regulatory and Development Authority (PFRDA)'s website - pfrda.org.in. Subscribing to the Atal pension scheme at an early age minimises the contribution required to reach the desired monthly pension, maximising the pension benefit, say wealth planners. (Also read: How to invest in Atal Pension Yojana)
A comparison of indicative contribution levels required by the investor to earn a fixed monthly pension of Rs 1,000-Rs 5,000 under Atal Pension Yojana:
Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 1,000 per month after attaining retirement, according to the National Securities Depository (NSDL)'s website - nsdl.co.in:
Fixed monthly pension of Rs 1,000 vs contribution period under Atal Pension Yojana
| Age of joining | Years of contribution | Indicative monthly contribution (in rupees) | Monthly pension to subscriber and spouse (in rupees) | Indicative return of corpus to subscriber's nominee (in rupees) | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 42 42 1,000 1.7 Lakh 40 50 1,000 1.7 Lakh 35 76 1,000 1.7 Lakh 30 116 1,000 1.7 Lakh 25 181 1,000 1.7 Lakh 20 291 1,000 1.7 Lakh Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 2,000 per month after attaining retirement, according to the NSDL website: Fixed monthly pension of Rs 2,000 vs contribution period under Atal Pension Yojana
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