APY Calculator

What Is an APY Calculator?

An APY calculator tells you exactly how much you need to contribute every month to the Atal Pension Yojana to receive your desired guaranteed monthly pension after age 60, based on your age when you join.

Atal Pension Yojana: Key Details

• Eligibility: Indian citizens aged 18 to 40, with a savings bank account or post office savings account.
• Pension amount: a fixed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000 or ₹5,000, chosen when you join.
• Contribution: varies by entry age and chosen pension. The earlier you join, the lower your monthly contribution for the same pension.
• Payout starts: at age 60, and continues for life.

It Is a Lookup, Not a Formula

There is no equation behind the APY contribution. PFRDA publishes a table, and the contribution is read off it by entry age and pension slab. This calculator ships that table.

APY Monthly Contribution for a ₹5,000 Pension

The gap is stark. Joining at 18 costs ₹210 a month for the same pension that costs ₹1,454 a month if you join at 40. For the lower pension slabs the contribution scales down roughly proportionally.

What Your Nominee Receives

The corpus returned to the nominee is a flat 170 times your chosen monthly pension: ₹1.7 lakh, ₹3.4 lakh, ₹5.1 lakh, ₹6.8 lakh or ₹8.5 lakh across the five slabs.

If the subscriber dies before age 60, the spouse can continue the account for the remaining period and receive the same pension, or take the accumulated corpus. After the death of both subscriber and spouse, the nominee receives the accumulated pension wealth as a lump sum.

Tax Benefits on APY Contributions

APY contributions qualify for deduction under Section 80CCD(1), within the overall Section 80C limit, and can also use the additional ₹50,000 deduction under Section 80CCD(1B), the same additional slab available to NPS contributions. Both deductions are available only under the old tax regime.

Key Takeaways

• An APY calculator shows the exact monthly contribution needed for your chosen pension amount, based on your age at entry.
• Joining earlier significantly reduces your required monthly contribution for the same guaranteed pension at 60.
• Pension options range from ₹1,000 to ₹5,000 per month, fixed for life once payouts begin.
• Contributions qualify for deduction under Section 80CCD(1) and the additional ₹50,000 under Section 80CCD(1B), but only in the old tax regime.