How Much Pension Can You Get Under Atal Pension Yojana? Find Out Here

The Government of India offers a range of schemes that provide various benefits to citizens, including financial support and subsidies. One such initiative is the Atal Pension Yojana ( APY ), a pension scheme designed for individuals who wish to secure a monthly pension after the age of 60. If you're considering joining this scheme, it's important to understand how it works and how much pension you can receive each month. Let’s dive into the details.

What Is Atal Pension Yojana ?

The Atal Pension Yojana is a government-backed pension scheme aimed at providing financial security to individuals after retirement. Participants are required to contribute regularly, and in return, they receive a guaranteed monthly pension once they turn 60.

Who Can Invest?

The scheme is open to Indian citizens aged between 18 and 40 years. Anyone within this age range can invest in the scheme and become eligible for a pension post-retirement.

How Much Pension Can You Receive?

The amount of pension you receive under APY depends on your age at the time of joining and the amount you invest. For example, if you are 18 years old and invest Rs. 210 per month, you will receive a pension of Rs. 5,000 per month once you reach 60. To be eligible for this pension, you need to invest for at least 20 years.

There are different pension plans available, ranging from Rs. 1,000 to Rs. 5,000 per month, based on the contribution you make during your working years.

How to Join the Scheme?

Joining the Atal Pension Yojana is a simple process. Here’s how you can enroll:

Visit your bank to obtain the APY application form.

Fill out the form and choose the premium amount you wish to contribute.

The selected premium will be automatically deducted from your bank account each month.

After turning 60, you’ll begin receiving your monthly pension.

The Atal Pension Yojana offers a reliable way for individuals to secure their financial future and enjoy a steady income during their retirement years.