Modi govt’s scheme: Invest just Rs 210/month now, and get Rs, 60,000 every year – Here’s how


Planning to save money to enjoy life after retirement? In order to achieve this, either you can invest Rs 210 per month for 42 years or invest Rs 1,454 per month for two decades. Atal Pension Yojana (APY) is a scheme run by the government which mainly focuses on the unorganised sector employees. An individual can start investing in the pension plan between the age of 18 and 40 years to earn a fixed minimum monthly pension ranging from Rs 1000 to Rs 5000, depending on the contribution and the age of the person. APY is open to all citizens of India. This means subscirbers will get a total of Rs 60,000 if they invest Rs 210 every month. All they need to do is open a savings account either with a bank or a post office.

Who can invest in Atal Pension Yojana?

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According to PFRDA, APY is focussed on all citizens in the unorganised sector. The scheme was launched in May 2015, and is administered by PFRDA and implemented via all the banks nationwide.

APY is good for people who belong to lower income group or those individuals who do not have a fixed employment, according to a report by NDTV.

How to save Rs 2,43,120 by starting at 18 years of age:

Fixed minimum monthly pension of Rs 5,000 under APY
Starting age (in years) Monthly contribution (Rs) Total contibution (years) Total investment (Rs)
18 210 42 1,05,840
25 376 35 1,57,920
30 577 30 2,07,720
35 902 25 2,70,600
40 1454 20 3,48,960

If an individual starts investing Rs 210 per month at the age of 18, the person invests Rs 1,05,840 overall. In the same way, if s/he starts investing Rs 1454/month at the age of 40, the subscriber invests Rs 3,48,960. This means that an individual saves Rs 2,43,120 if s/he starts earning at an early age.

How do you apply for Atal Pension Yojana online?
The APY subscriber form is available online on all bank websites. Customers have to download the form, fill in the required details and submit it to their banks. Other necessary documents also have to be submitted and applicants can then easily open as Atal Pension Yojana account.