Allahabad Bank Atal Pension Yojana

Allahabad Bank Atal Pension Yojana is a scheme wherein, Allahabad Bank enables individuals to enroll for the Atal Pension Yojana. This plan provides monthly pensions from Rs.1,000 to Rs.5,000 per month. One can enjoy guaranteed benefits as well.
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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

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