Pension scheme APY (Atal Pension Yojana): One can start investing in the pension scheme at age 18Atal Pension Yojana (APY) is a pension scheme focused on the unorganised sector.
The pension scheme - Atal Pension Yojana - allows persons between 18 and 40 years of age to invest for up to 20 years to earn a fixed monthly pension of Rs 1,000-Rs 5,000 after attaining retirement - at age 60 years, according to regulator Pension Fund Regulatory and Development Authority (PFRDA)'s website - pfrda.org.in.
Subscribing to the Atal pension scheme at an early age minimises the contribution required to reach the desired monthly pension, maximising the pension benefit, say wealth planners. ( How to invest in Atal Pension Yojana)Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 1,000 per month after attaining retirement, according to the National Securities Depository (NSDL)'s website - nsdl.co.in:Fixed monthly pension of Rs 1,000 vs contribution period under Atal Pension Yojana Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 2,000 per month after attaining retirement, according to the NSDL website:Fixed monthly pension of Rs 2,000 vs contribution period under Atal Pension Yojana Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 3,000 per month after attaining retirement, according to the NSDL website:Fixed monthly pension of Rs 3,000 vs contribution period under Atal Pension Yojana Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 4,000 per month after attaining retirement, according to the NSDL website:Fixed monthly pension of Rs 4,000 vs contribution period under Atal Pension Yojana Here are details of the investment required in Atal Pension Yojana (APY) to reach a goal of Rs 5,000 per month after attaining retirement, according to the NSDL website:Fixed monthly pension of Rs 5,000 vs contribution period under Atal Pension Yojana Minimum investment requiredOne can invest in the Atal pension scheme through three modes of payment: monthly, quarterly and half-yearly.
That means the pension scheme requires the investor to make a minimum of two contributions every year.
For instance, an investor subscribing for the Atal scheme at the age of 18 years is required to pay Rs 42 per month to reach a pension goal of Rs.
1,000 per month.