Atal Pension Yojana Calculator

What is an Atal Pension Yojana Calculator?

Atal Pension Yojana Calculator or APY scheme calculator is a financial tool that helps an individual calculate the monthly contribution made to this government scheme to get a fixed pension after retirement. Prime Minister Narendra Modi launched this pension yojana on 9th May 2015 in Kolkata. As per this pension scheme, any Indian citizen aged between 18 and 40 years who wants to get a monthly pension after the age of 60 years can opt for this scheme.

In Pocketful’s Atal Pension Yojana calculator, enter the age at which you want to join this pension scheme and the desired monthly pension after retirement. Based on your inputs, this calculator will provide output in the form of monthly investments to be made along with the investment duration and total amount invested during the period.

How Can Atal Pension Yojana Calculator Help You?

An Atal Pension Yojana Calculator can help you in the following ways:

1. Calculation of Monthly Contribution: The Atal Pension Yojana Calculator helps you determine the monthly contribution required to receive a fixed pension after retirement based on your age at enrollment and desired pension amount.
2. Convenient: Manual calculation requires time and effort. Therefore, by using the Atal Pension Yojana, one can get instant results.
3. Financial Planning: One can easily plan for their retirement by investing in the Atal Pension Yojana.

How Does an Atal Pension Yojana Calculator Work?

The explanation of how an Atal Pension Yojana Calculator works is as follows:

1. Inputs: Provide the inputs, such as the joining age of the subscriber and the required monthly pension after retirement.
2. Applying the Calculation Method: The calculator uses predefined government data based on actuarial assumptions to determine the monthly contribution required under the Atal Pension Yojana scheme.
3. Results: The result you will get is in the form of monthly investment and duration of investment to get the guaranteed monthly pension and the total amount that you will be investing throughout the tenure.

Formula to Calculate Atal Pension Yojana Calculator

There is no specific formula to calculate the required monthly contribution to get a specific pension amount after retirement. This is because we cannot determine the number of times the subscriber would receive a pension after retirement, as the Atal Pension Yojana guarantees fixed pension amounts after 60 years of age as long as the subscriber is alive. 

The calculation of the monthly contribution amount requires actuarial assumptions such as future interest rates, inflation, mortality rates, etc., which can be quite complex to determine. The Government of India has released data that specifies the monthly contribution amount required for a specific pension amount and the age at which the subscriber joins the scheme. 

Refer to the table given below for accurate monthly contributions for the varying input values.

Age Entry	Vesting Period	Monthly Contribution Required (in ₹)
		For ₹1,000 pension	For ₹2,000 pension	For ₹3,000 pension	For ₹4,000 pension	For ₹5,000 pension
18	42	42	84	126	168	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	43	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1,087
38	22	240	480	720	957	1,196
39	21	264	528	792	1,054	1,318

The other output values can be calculated using the following formula:

• Investment Duration = 60 – Your Joining Age
• Total Amount = Monthly Contribution * Investment Duration * 12

Example of Atal Pension Yojana Calculator

Mr A wants to enroll in the Atal Pension Yojana (APY), and his current age is 30 years. Also, he wants a monthly pension of ₹5,000 per month after his age of retirement, which will be 60 years.

According to the table mentioned above, his monthly contribution amount will be ₹577. 

• Monthly Contribution = ₹577
• Investment Duration = 60 – 30 = 30 years
• Total Amount = ₹577 * 30 * 12 = ₹2,07,720

Hence, Mr A will be required to contribute ₹577 for 30 years to get a monthly pension of ₹5,000 after 60 years of age.

How to Use Pocketful Atal Pension Yojana Calculator?

If you wish to invest in the Atal Pension Yojana but are unsure about the required monthly contribution, you can use the Pocketful Atal Pension Yojana Calculator by following these steps:

1. First, you need to visit the home page of the Pocketful website.
2. Once the home page of the website opens, you just need to scroll down to the bottom of the page, where you will find the tools section.
3. By clicking on the tools button, you will be redirected to a new page where you will find a tab named “Financial Calculators” Just click on it.
4. As you click on the Financial Calculators option, a new page opens where you can find the Atal Pension Yojana calculator or APY calculator.
5. Enter a few details, such as your joining age and the desired monthly pension.
6. Once you enter the details, you will get the monthly contribution amount, along with the investment duration and total amount.

Benefits of Using the Atal Pension Yojana Calculator

The major benefits of using the Atal Pension Yojana are as follows:

1. Budgeting: The Atal Pension Yojana calculator will tell you the exact amount required to contribute every month, helping you plan your budget accordingly.
2. Retirement Planning: One can easily plan for their retirement using the Atal Pension Yojana Calculator and retire peacefully.
3. Time-saving: Manual calculations or searching for contribution amounts for your specific input values can be replaced using the Atal Pension Yojana calculator, which calculates your monthly contributions in the scheme in no time.