If you are eligible for Atal Pension Yojana and want to arrange Rs 5,000 every month for old age through this scheme, then know how much premium you will have to pay every month for this.

Atal Pension Yojana is a scheme of the Government of India that gives pension ranging from Rs 1,000 to Rs 5,000 in old age. People between 18 years to 40 years who are not taxpayers can take advantage of this scheme. How much 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 this.

Facility to contribute monthly, quarterly and half yearly

Under this scheme, you get the facility to deposit contribution monthly, quarterly and half yearly. If you choose monthly, you will have to deposit the contribution as per your age every month, every three months if you choose quarterly, and every six months if you choose half-yearly. 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 pension through bank account. If you already have a bank account, you can link it to Atal Pension Yojana. Once you become a member of Atal Pension Yojana, you have to continuously contribute till the age of 60 years.

How much contribution at what age for pension of Rs 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, you will have to pay Rs 228 per month, Rs 679 per quarter and Rs 1346 per half yearly. At the age of 20, you will have to pay Rs 248, Rs 739, Rs 1464 on a monthly, quarterly and half yearly basis; at the age of 21, you will have to pay Rs 269, Rs 802, Rs 1588, at the age of 22, you will have to pay Rs 292, Rs 870, Rs 1723, at the age of 23, you will have to pay Rs 318, Rs 948, Rs 1877, if you start contributing at the age of 24, you will have to pay Rs 346, Rs 1031, Rs 2042 on a monthly, quarterly and half yearly basis respectively.