APY: Do you want to get a pension of Rs 5,000 from Atal Pension Yojana? Understand how much premium you will have to pay every month..

Atal Pension Yojana is a scheme of the Government of India that provides a pension ranging from Rs 1,000 to Rs 5,000 in old age. People between 18 and 40 years who are not taxpayers can take advantage of this scheme. The amount of pension you will get is decided on the basis of your contribution. If you also want to get a pension of Rs 5,000 every month through APY in old age, then understand how much premium you will have to pay for it.

Facility to contribute monthly, quarterly, and half-yearly

Under this scheme, you get the facility to deposit contributions monthly, quarterly, and half-yearly. If you choose monthly, then you will have to deposit the contribution determined according to age every month, every three months if you choose quarterly, and every six months if you choose the half-yearly option. For this, you must have a bank account because the money for your contribution to the scheme will be deducted from your bank account, and you will also get a pension through your bank account. If you already have a bank account, then you can link it to the Atal Pension Yojana. Once you take membership in the Atal Pension Yojana, you have to contribute continuously till the age of 60 years.

How much contribution at what age for a pension of 5000

If you want to get a pension of Rs 5000 every month in old age and open an account at the age of 18, then you will have to deposit Rs 210 monthly, Rs 626 quarterly, and Rs 1239 half-yearly. If you start contributing at the age of 19, then you will have to pay Rs 228 monthly, Rs 679 quarterly, and Rs 1346 half-yearly. At the age of 20, Rs 248, Rs 739, Rs 1464 will have to be paid on monthly, quarterly and half yearly basis; at the age of 21, Rs 269, Rs 802, Rs 1588; at the age of 22, Rs 292, Rs 870, Rs 1723; at the age of 23, Rs 318, Rs 948, Rs 1877; starting from the age of 24, Rs 346, Rs 1031, Rs 2042 will have to be paid on monthly, quarterly and half yearly basis respectively.

If you start contributing under this scheme at the age of 25, you will have to pay Rs 376 monthly, Rs 1121 quarterly, and Rs 2219 half-yearly. At the age of 26, you will have to pay Rs 409, Rs 1219 and Rs 2414, at the age of 27, Rs 446, Rs 1329 and Rs 2632, at the age of 28, Rs 485, Rs 1445 and Rs 2862, at the age of 29, Rs 529, Rs 1577 and Rs 3122 on monthly, quarterly and half-yearly basis respectively.

If you register at the age of 30, you will have to pay Rs 577 if you choose the monthly contribution option, Rs 1720 if you choose the quarterly option and Rs 3405 if you choose the half-yearly option. Similarly, at the age of 31, Rs 630, Rs 1878, Rs 3718 will have to be paid, at the age of 32, Rs 689, Rs 2053, Rs 4066, at the age of 33, Rs 752, Rs 2241 and Rs 4438, on registration at the age of 34, Rs 824 will have to be paid on monthly basis, Rs 2456 on quarterly basis and Rs 4863 on half-yearly basis.

At the age of 35, Rs 902, Rs 2688, Rs 5323, at the age of 36, Rs 990, Rs 2950, Rs 5843, at the age of 37, Rs 1087, Rs 3239, Rs 6415, at the age of 38, Rs 1196, Rs 3564, Rs 7058 and if you register at the age of 39, then you will have to deposit contribution at the rate of Rs 1318 per month, Rs 3928 quarterly and Rs 7778 annually till you reach the age of 60. In this way, if you pay full contribution for 60 years, after 60, you start getting this money as lifelong pension from the government.

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