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Atal Pension Yojana

This calculator helps you calculate the monthly premium you need to invest in order to receive the desired pension amount after retirement (Retirement age considered as 60) under Atal Pension Yojana.

Desired Monthly Pension after Retirement

Age when you want to start investing (Between 18 to 39)

years

 

 

Atal Pension Yojana Calculator

The Atal Pension Yojana (APY) is an all-inclusive social security programme set up by the Indian government to ensure the financial stability of its residents as they age. This programme tries to motivate employees in unorganised sectors to set aside money for retirement.

 

We use an Atal Pension Yojana Calculator to calculate how much you need to contribute per month to get the desired interest rate. But before we discuss how to use Atal Pension Yojana Calculator, let us discuss some basics of these schemes-.

 

What is Atal Pension Yojana?

 

A National Pension Scheme (NPS) called the Atal Pension Yojana was unveiled in the Union Budget for 2015–2016. This pension’s target audience is people who work in the unorganised sector. Those who work in the private sector without access to pension benefits are also eligible. .

 

Atal Pension Yojana Eligibility

 

Following are the criteria to be eligible for the Atal Pension Yojana benefits: .

 

  • Must be an Indian citizen.
  • Between the ages of 18 and 40.
  • Should put in at least 20 years' contributions
  • To link your bank account to your Aadhar.
  • A working mobile phone number

The Swavalamban Yojana beneficiaries will be moved automatically to the Atal Pension Yojana. .

 

How can one apply for APY?

 

For applying to Atal Pension Yojana, you need to visit your bank branch/post office and submit the following documents: .

 

  • Filled out the APY application form; and
  • Aadhaar card.

One can also apply for the Atal Pension Yojna scheme online through the net banking facility. After KYC (Know Your Customer) verification, the bank will enrol you in the APY scheme. .

 

You will be required to choose a monthly pension amount between Rs. 1000 - Rs. 5000. One should ensure a sufficient balance in their bank account to pay the required monthly contribution. You can use the Atal Pension Yojana calculator to estimate this amount. .

 

After understanding the basics of this scheme, let us discuss how to calculate how much pension we will receive every month: .

 

APY Formula

 

The formula is as follows-.

 

APY= (1+ Interest Rate/No. of times Interest is Compounded in a Year) No. of times Interest is Compounded in a Year – 1.

 

Is this formula looking like a Greek to you? Well, don't worry about this; we have Elearnmarkets Atal Pension Yojana Calculator Online. .

 

Atal Pension Yojana Calculator Online

 

You can calculate your pension received from this scheme easily by just inputting two values-.

 

  • Desired Monthly Pension after Retirement
  • Age should be between 18 to 39- when you want to start investing

By entering these two values, you will get to know how much you need to contribute per month, as shown below:

 

Atal Pension Yojana

 

Now that we know what Atal Pension Yojana is, how it works and how to use the Atal Pension Yojana Calculator Online, let us discuss some FAQs about the same: .

 

How do I calculate my APY pension?

 

An individual employee has the option to receive a pension of Rs. 1,000, 2,000, 4,000, or 5,000 at age 60. This pension is based on their contribution to the plan and the age at which they begin making contributions. .

 

What is the 8.5 lakhs Atal Pension Yojana?

 

For a monthly pension of 5,000, use the Atal Pension Yojana Calculator Chart. If you choose a 5,000 pension plan, your monthly contribution would likely be between 210 and 1,454. It is anticipated that the candidate will receive 8.5 lakhs. .

 

Which is better Atal pension or NPS?

 

The minimum age to participate in the Atal Pension Yojana is 18, while the maximum age is merely 40. Both NRIs and Indian citizens are welcome to invest in the NPS programme. Although the NPS does not ensure a pension after retirement. After retirement, the Atal Pension Yojana offers you a guaranteed pension>.

 

Is Atal pension Scheme good?>

 

One of the most advantageous social security programmes the government established in 2015–16 is the Atal Pension Yojana. In accordance with the programme, individuals can contribute to their Atal Income Yojana account up until the age of 60 and receive a monthly pension>.