Pradhan Mantri Atal Pension Yojana (APY) Details : Statement, Calculator

Pradhan Mantri Atal Pension Yojana (APY) (Account Statement, Apply,Chart, Calculator, SBI, )

Named after the ex-prime minister of India, Atal Bihari Vajpayee, Atal Pension Yojana also know as APY Scheme was launched in continuation to the Jan Dhan Yojana Scheme to bring those employed in rural and unorganized sector under the ambit of Pension Schemes.  The idea of the scheme is to provide a definite pension to all Indians.

Quick Look of Atal Pension Yojana in tabular format

Parameters	Details
Scheme Name	Atal Pension Yojana (APY)
Launched By	Narendra Modi
Brand Ambassador	Amitabh Bachchan
Last Date	NA
Age Criteria	Minimum 18 Years, Maximum 40 Years
Objective	Social Security
Target Audience	Un Organized Sector
Scope	Across India

However, in order to get pension during your old age, you need to contribute accordingly.  The more you can contribute the more pensions you would get during old age.  The scheme is backed by Ministry of Finance, Government of India.  The scheme would mostly touch those working under unorganized sector.

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Eligibility for Atal Pension Yojana

Any Indian national within the age group of 18 to 40 years is eligible to contribute under APY.  However, any member of a statutory social security scheme is not eligible to get the governments contribution for this pension scheme. But he will get all normal benefits of APY. If your age is 40 Years then you are eligible but if you are 40 years and 1 day then you are not eligible.

Government Contribution in Atal Pension Yojana

As all the previous schemes launched by Narendra Modi, this scheme to has an early bird incentive attached with it. If you would enroll in it on or before 31st March 2016 then you would be getting a government contribution.  Government will contribute maximum of rs 1000 per year for first 5 years.  Your yearly contribution should be more then rs 2000 to get this amount. If your yearly contribution (X rs) is less then rs 2000 then you will get Rs X/2 as government contribution.

These subscribers will not get governments contibution

• If you are an income tax payer
• If you are any state or government employee
• if you work in a private company and have EPF or EPS account.

How to Apply | Process to get enrolled.

In order to apply for APY an Indian national needs to have a working bank account.  Date for submission of forms has started from 01^st June 2015. There is no last date for enrollment. You have to fill the form in any bank and you are done. Please make sure this bank account have sufficient money each month before premium is deducted.

Premium payable under Atal Pension Yojana

There is also a policy under the scheme, wherein if the pension account holder dies, the contributions would go to the family or the nominee of the account.  The premiums to the pension account would be paid through your bank account and it would be auto-debited from the bank account.

Calculator or Premium of APY can be paid through 3 options

• Monthly
• Quarterly
• Half Yearly

Premium Chart of Atal pension Yojana for Rs 1000 Pension

Sn	Age	Vesting Period	Monthly	Quarterly	Half Yearly
1	18	42	42	125	248
2	19	41	46	137	271
3	20	40	50	149	295
4	21	39	54	161	319
5	22	38	59	176	348
6	23	37	64	191	378
7	24	36	70	209	413
8	25	35	76	226	449
9	26	34	82	244	484
10	27	33	90	268	531
11	28	32	97	289	572
12	29	31	106	316	626
13	30	30	116	346	685
14	31	29	126	376	744
15	32	28	138	411	814
16	33	27	151	450	891
17	34	26	165	492	974
18	35	25	181	539	1068
19	36	24	198	590	1169
20	37	23	218	650	1287
21	38	22	240	715	1416
22	39	21	264	787	1558
23	40	20	291	876	1717

Premium Chart of Atal pension Yojana for  Rs 2000 Pension

Sn	Age	Vesting Period	Monthly	Quarterly	Half Yearly
1	18	42	84	250	496
2	19	41	92	274	543
3	20	40	100	298	590
4	21	39	108	322	637
5	22	38	117	349	690
6	23	37	127	378	749
7	24	36	139	414	820
8	25	35	151	450	891
9	26	34	164	489	968
10	27	33	178	530	1050
11	28	32	194	578	1145
12	29	31	212	632	1251
13	30	30	231	688	1363
14	31	29	252	751	1487
15	32	28	276	823	1629
16	33	27	302	900	1782
17	34	26	330	983	1948
18	35	25	362	1079	2136
19	36	24	396	1180	2337
20	37	23	436	1299	2573
21	38	22	480	1430	2833
22	39	21	528	1574	3116
23	40	20	582	1734	3435

Premium Chart for Atal pension Yojana for pension of Rs 3000

Sn	Age	Vesting Period	Monthly	Quarterly	Half yearly
1	18	42	126	376	744
2	19	41	138	411	814
3	20	40	150	447	885
4	21	39	162	483	956
5	22	38	177	527	1045
6	23	37	192	572	1133
7	24	36	208	620	1228
8	25	35	226	674	1334
9	26	34	246	733	1452
10	27	33	268	799	1582
11	28	32	292	870	1723
12	29	31	318	948	1877
13	30	30	347	1034	2048
14	31	29	379	1129	2237
15	32	28	414	1234	2443
16	33	27	453	1350	2673
17	34	26	495	1475	2921
18	35	25	543	1618	3205
19	36	24	594	1770	3506
20	37	23	654	1949	3860
21	38	22	720	2146	4249
22	39	21	792	2360	4674
23	40	20	873	2602	5152

Premium Chart for Atal pension Yojana for pension of Rs 4000

Sn	Age	Vesting Period	Monthly	Quarterly	Half Yearly
1	18	42	168	501	991
2	19	41	183	545	1080
3	20	40	198	590	1169
4	21	39	215	641	1269
5	22	38	234	697	1381
6	23	37	254	757	1499
7	24	36	277	826	1635
8	25	35	301	897	1776
9	26	34	327	975	1930
10	27	33	356	1061	2101
11	28	32	388	1156	2290
12	29	31	423	1261	2496
13	30	30	462	1377	2727
14	31	29	504	1502	2974
15	32	28	551	1642	3252
16	33	27	602	1794	3553
17	34	26	659	1964	3889
18	35	25	722	2152	4261
19	36	24	792	2360	4674
20	37	23	870	2593	5134
21	38	22	957	2852	5648
22	39	21	1054	3141	6220
23	40	20	1164	3469	6869

Premium Chart for Atal pension Yojana for pension of Rs 5000

Sn	Age	Vesting Period	Monthly	Quarterly	Half Yearly
1	18	42	210	262	1239
2	19	41	228	697	1346
3	20	40	248	739	1464
4	21	39	269	802	1588
5	22	38	292	870	1723
6	23	37	318	948	1877
7	24	36	346	1031	2042
8	25	35	376	1121	2219
9	26	34	409	1219	2414
10	27	33	446	1329	2632
11	28	32	485	1445	2862
12	29	31	529	1577	3122
13	30	30	577	1720	3405
14	31	29	630	1878	3718
15	32	28	689	2053	4066
16	33	27	752	2241	4438
17	34	26	824	2456	4863
18	35	25	902	2688	5323
19	36	24	990	2950	5843
20	37	23	1087	3239	6415
21	38	22	1196	3564	7058
22	39	21	1318	3928	7778
23	40	20	1454	4333	8581

Can Government Employees open Atal Pension Yojana Account

Yes Government employees can open it but will not be eligible for the government contribution on this account

Important Atal Pension Yojana Features

If a subscriber Joins APY and opts for a 5000 pension plan and pays his premium as mentioned in the chart then he will start getting rs 5000 pension till he is alive after attaining 60 years of age. After subscriber is dead then his/her spouse will get the pension amount that subscriber was getting.  After both are gone then Nominee will get the corpus amount of rs 8.5 lakhs.

Atal Pension Yojana Form

You can use and download APY Form using Atal Pension Yojana English Application form Link. Nominee details are very important in this scheme. Spouse  is considered to be the default nominee so please make sure you make nominee other then you spouse.

Please use this link to download Atal Pension Yojana Form in Hindi

Can a subscriber close his APY account (Voluntary Exit) before attaining 60 years of age.

Initially it was not possible but after getting reviews from people government have allowed closing of APY account in between. You will have to give a closing application in the bank to get your account closed. Banks will refund all your investment with interest. You will have to pay a small penalty to avail this facility.

APY Account Statement using eSOT and ePRAN

Now you can see your apy statement online. Initially it was not possible.

1. Browse this site https://npslite-nsdl.com/CRAlite/EPranAPYOnloadAction.do
2. fill the mandatory details
3. click submit button

Tax benefits in Atal pension Yojana.

So the great news is in, now you can avail the same tax benefits in atal pension yojana as you do in NPS ie now you can claim the premium paid in this scheme under section 80CCD.

Atal Pension Yojana (APY) VS New Pension Yojana (NPS)

SL. NO.	ATAL PENSION YOJANA	NATIONAL PENSION SCHEME
1	The maximum age limit that one can join is up to the age of 40 years.	Here one can join up to the age of 60 years.
2	NRIs cannot join this plan.	NRIs can also join this plan.
3	Here, the pension is paid monthly which ranges from Rs. 1,000 to Rs. 5,000.	Here, half of the pension amount is paid after the beneficiary retires and then he/she receives the rest amount in monthly payments.
4	Premium amount can be claimed under 80CCD	There is tax benefit and beneficiary can avail tax benefits of up to Rs. 50 lakh.
5	Here withdrawal cannot be made before maturity, unless there is a special case.	Here the beneficiary can withdraw the amount before maturity.
6	Here, unique PRAN number is not provided.	A unique PRAN number is provided to get accessibility all over the country.

Some Interesting APY Updates

25/01/2016

You should have savings bank account if you want to opt for this scheme.

03/02/2016

Swavalamban Yojana would automatically converted into APY

18/04/2016

You can opt for a pension plan but switching the plan after opting it possible only once in a year. But the Procedure of the same is not known.

23/11/2016

The Pension that you will get after completion of term would be taxable.

03/03/2017

Amitabh Bachchan is the current Brand Ambassador of Atal pension Yojana.

26/07/2017

You can apply for Atal Pension yojana in SBI, PNB, HDFC, ICICI and many other banks.

01/08/2017

PFRDA have notified that APY is doing pretty well and fund managers have generated above 13% returns on this investment.

12/12/2017

Reaches 62 Lakhs Subscriber Base. Aadhaar Card have now become mandatory to enroll in APY. Premature Exit form in now available in banks (updated on Jan 10 2018)

29/02/2018

You can now open your APY account on any of government recognized payment banks like paytm, airetl banks etc, this step is surely going to increase APY reach.

15/6/2018

The Modi government has planned to increase the monthly pension limit from Rs 5000 to Rs 10000 as per the proposal by Pension Fund Regulatory and Development Authority (PFRDA) considering that 20-30 years down the lane, the current pension limit of Rs 5000 per month for people with age 60 years would not be enough. The proposal also includes auto-enlistment of APY subscribers and increases the maximum age limit to 50 years to ingress into the scheme.

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