|Age of Entry||Years of Contribution||Monthly pension of Rs. 1000.||Monthly pension of Rs. 2000.||Monthly pension of Rs. 3000.||Monthly pension of Rs. 4000.||Monthly pension of Rs. 5000.|
Atal Pension Yojana (APY)
The Government of India has announced a new scheme called Atal Pension Yojana (APY). APY is a guaranteed pension scheme and is administered by the Pension Fund Regulatory and Development Authority (PFRDA).
ICICI Bank is registered with PFRDA to provide APY related services.
- Guaranteed monthly pension for subscribers, ranging from Rs. 1,000 to Rs. 5,000 per month.
- Government of India (GoI) will also co-contribute 50% of the subscriber’s contribution or Rs. 1,000 per annum, whichever is lower. The Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes and is not an Income Tax payer
- GoI will co-contribute to each eligible subscriber, for a period of 5 years who joins the scheme in the period June 1 to December 31, 2015. The benefit of five years of Government co-contribution under APY would not exceed 5 years for all subscribers including migrated Swavalamban beneficiaries.
Indicative APY Contribution Chart (Age wise)
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