Allahabad Bank Atal Pension Yojana

People in the unorganized sector in India are very hard working but they often do not make a lot of money. In fact, many them struggle to survive and so they most of them do not make an effort to save money for their retirement. A lot of them find it hard to sustain their living once they reach the age of 60 and retire. In order to help the people working in the unorganized sector get pension benefits, the Government of India launched the Atal Pension Yojana in Feb, 2015. This scheme is aimed at offering workers of the unorganized sector with pension benefits when they retire. Allahabad Bank Atal Pension Yojana scheme will help people to save money and make sure that they can retire in peace.

Overview of Allahabad Bank Atal Pension Yojana

Allahabad Bank is one of the banks that allows people in the country to subscribe to the Atal Pension Yojana. This scheme offers guaranteed benefits and monthly pensions that will be in the range of Rs 1,000 to Rs 5,000 every month. The scheme will be under the administration of the Pension Fund Regulatory and Development Authority (PFRDA) of India. If you want to subscribe to this scheme, you can easily download the Atal Pension Yojana form from the official website of the bank, fill it, sign it, and then submit the same to the bank along with KYC documents to open an account.

Features and Benefits of Allahabad Bank Atal Pension Yojana

• If you opt for Allahabad Bank Atal Pension Yojana scheme, you can avail guaranteed pension after you retire.
• Your monthly pension will depend on your contribution and will be in the range of Rs 1,000 to Rs 5,000.
• In case you are not covered any of the social security schemes in the country and if you are not a tax payer, the government of India will act as a co-contributor and will contribute 50 percent of your annual contribution or Rs 1,000 per annum, whichever is lower.
• If eligible, you can receive contribution from the government for a period of 5 yrs.
• Each subscriber can open only 1 account under this scheme.
• The scheme has been designed to offer people working in the unorganized sector with pension benefits.
• You can start contributing from the age of 18 and you can contribute till you reach the age of 40.
• The contributions that you make under this Allahabad Bank Atal Pension Yojana scheme will be invested by the bank as per the guidelines given by the Finance of Finance of India.

The tables below give you a description of how much you need to contribute and for how many yrs to enjoy pension of INR 1,000 to INR 5,000.

Age at which you start contributing	Number of yrs that you contribute	Pension of Rs 1,000 per month
18 yrs	42 yrs	Rs 42
19 yrs	41 yrs	Rs 46
20 yrs	40 yrs	Rs 50
21 yrs	39 yrs	Rs 54
22 yrs	38 yrs	Rs 59
23 yrs	37 yrs	Rs 64
24 yrs	36 yrs	Rs 70
25 yrs	35 yrs	Rs 76
26 yrs	34 yrs	Rs 82
27 yrs	33 yrs	Rs 90
28 yrs	32 yrs	Rs 97
29 yrs	31 yrs	Rs 106
30 yrs	30 yrs	Rs 116
31 yrs	29 yrs	Rs 126
32 yrs	28 yrs	Rs 138
33 yrs	27 yrs	Rs 151
34 yrs	26 yrs	Rs 165
35 yrs	25 yrs	Rs 181
36 yrs	24 yrs	Rs 198
37 yrs	23 yrs	Rs 218
38 yrs	22 yrs	Rs 240
39 yrs	21 yrs	Rs 264
40 yrs	20 yrs	Rs 291

Age at which you start contributing	Number of yrs that you contribute	Pension of Rs 2,000 per month
18 yrs	42 yrs	Rs 84
19 yrs	41 yrs	Rs 92
20 yrs	40 yrs	Rs 100
21 yrs	39 yrs	Rs 108
22 yrs	38 yrs	Rs 117
23 yrs	37 yrs	Rs 127
24 yrs	36 yrs	Rs 139
25 yrs	35 yrs	Rs 151
26 yrs	34 yrs	Rs 164
27 yrs	33 yrs	Rs 178
28 yrs	32 yrs	Rs 194
29 yrs	31 yrs	Rs 212
30 yrs	30 yrs	Rs 231
31 yrs	29 yrs	Rs 252
32 yrs	28 yrs	Rs 276
33 yrs	27 yrs	Rs 302
34 yrs	26 yrs	Rs 330
35 yrs	25 yrs	Rs 362
36 yrs	24 yrs	Rs 396
37 yrs	23 yrs	Rs 436
38 yrs	22 yrs	Rs 480
39 yrs	21 yrs	Rs 528
40 yrs	20 yrs	Rs 582

Age at which you start contributing	Number of yrs that you contribute	Pension of Rs 3,000 per month
18 yrs	42 yrs	Rs 126
19 yrs	41 yrs	Rs 138
20 yrs	40 yrs	Rs 150
21 yrs	39 yrs	Rs 162
22 yrs	38 yrs	Rs 177
23 yrs	37 yrs	Rs 192
24 yrs	36 yrs	Rs 208
25 yrs	35 yrs	Rs 226
26 yrs	34 yrs	Rs 246
27 yrs	33 yrs	Rs 268
28 yrs	32 yrs	Rs 292
29 yrs	31 yrs	Rs 318
30 yrs	30 yrs	Rs 347
31 yrs	29 yrs	Rs 379
32 yrs	28 yrs	Rs 414
33 yrs	27 yrs	Rs 453
34 yrs	26 yrs	Rs 495
35 yrs	25 yrs	Rs 543
36 yrs	24 yrs	Rs 594
37 yrs	23 yrs	Rs 654
38 yrs	22 yrs	Rs 720
39 yrs	21 yrs	Rs 792
40 yrs	20 yrs	Rs 873

Age at which you start contributing	Number of yrs that you contribute	Pension of Rs 4,000 per month
18 yrs	42 yrs	Rs 168
19 yrs	41 yrs	Rs 183
20 yrs	40 yrs	Rs 198
21 yrs	39 yrs	Rs 215
22 yrs	38 yrs	Rs 234
23 yrs	37 yrs	Rs 254
24 yrs	36 yrs	Rs 277
25 yrs	35 yrs	Rs 301
26 yrs	34 yrs	Rs 327
27 yrs	33 yrs	Rs 356
28 yrs	32 yrs	Rs 388
29 yrs	31 yrs	Rs 423
30 yrs	30 yrs	Rs 462
31 yrs	29 yrs	Rs 504
32 yrs	28 yrs	Rs 551
33 yrs	27 yrs	Rs 602
34 yrs	26 yrs	Rs 659
35 yrs	25 yrs	Rs 722
36 yrs	24 yrs	Rs 792
37 yrs	23 yrs	Rs 870
38 yrs	22 yrs	Rs 957
39 yrs	21 yrs	Rs 1,054
40 yrs	20 yrs	Rs 1,164

Age at which you start contributing	Number of yrs that you contribute	Pension of Rs 5,000 per month
18 yrs	42 yrs	Rs 210
19 yrs	41 yrs	Rs 228
20 yrs	40 yrs	Rs 248
21 yrs	39 yrs	Rs 269
22 yrs	38 yrs	Rs 292
23 yrs	37 yrs	Rs 318
24 yrs	36 yrs	Rs 346
25 yrs	35 yrs	Rs 376
26 yrs	34 yrs	Rs 409
27 yrs	33 yrs	Rs 446
28 yrs	32 yrs	Rs 485
29 yrs	31 yrs	Rs 529
30 yrs	30 yrs	Rs 577
31 yrs	29 yrs	Rs 630
32 yrs	28 yrs	Rs 689
33 yrs	27 yrs	Rs 752
34 yrs	26 yrs	Rs 824
35 yrs	25 yrs	Rs 902
36 yrs	24 yrs	Rs 990
37 yrs	23 yrs	Rs 1,087
38 yrs	22 yrs	Rs 1,196
39 yrs	21 yrs	Rs 1,318
40 yrs	20 yrs	Rs 1,454