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  • Allahabad Bank Atal Pension Yojana

    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 contributingNumber of yrs that you contributePension of Rs 1,000 per month
      18 yrs42 yrsRs 42
      19 yrs41 yrsRs 46
      20 yrs40 yrsRs 50
      21 yrs39 yrsRs 54
      22 yrs38 yrsRs 59
      23 yrs37 yrsRs 64
      24 yrs36 yrsRs 70
      25 yrs35 yrsRs 76
      26 yrs34 yrsRs 82
      27 yrs33 yrsRs 90
      28 yrs32 yrsRs 97
      29 yrs31 yrsRs 106
      30 yrs30 yrsRs 116
      31 yrs29 yrsRs 126
      32 yrs28 yrsRs 138
      33 yrs27 yrsRs 151
      34 yrs26 yrsRs 165
      35 yrs25 yrsRs 181
      36 yrs24 yrsRs 198
      37 yrs23 yrsRs 218
      38 yrs22 yrsRs 240
      39 yrs21 yrsRs 264
      40 yrs20 yrsRs 291
      Age at which you start contributingNumber of yrs that you contributePension of Rs 2,000 per month
      18 yrs42 yrsRs 84
      19 yrs41 yrsRs 92
      20 yrs40 yrsRs 100
      21 yrs39 yrsRs 108
      22 yrs38 yrsRs 117
      23 yrs37 yrsRs 127
      24 yrs36 yrsRs 139
      25 yrs35 yrsRs 151
      26 yrs34 yrsRs 164
      27 yrs33 yrsRs 178
      28 yrs32 yrsRs 194
      29 yrs31 yrsRs 212
      30 yrs30 yrsRs 231
      31 yrs29 yrsRs 252
      32 yrs28 yrsRs 276
      33 yrs27 yrsRs 302
      34 yrs26 yrsRs 330
      35 yrs25 yrsRs 362
      36 yrs24 yrsRs 396
      37 yrs23 yrsRs 436
      38 yrs22 yrsRs 480
      39 yrs21 yrsRs 528
      40 yrs20 yrsRs 582
      Age at which you start contributingNumber of yrs that you contributePension of Rs 3,000 per month
      18 yrs42 yrsRs 126
      19 yrs41 yrsRs 138
      20 yrs40 yrsRs 150
      21 yrs39 yrsRs 162
      22 yrs38 yrsRs 177
      23 yrs37 yrsRs 192
      24 yrs36 yrsRs 208
      25 yrs35 yrsRs 226
      26 yrs34 yrsRs 246
      27 yrs33 yrsRs 268
      28 yrs32 yrsRs 292
      29 yrs31 yrsRs 318
      30 yrs30 yrsRs 347
      31 yrs29 yrsRs 379
      32 yrs28 yrsRs 414
      33 yrs27 yrsRs 453
      34 yrs26 yrsRs 495
      35 yrs25 yrsRs 543
      36 yrs24 yrsRs 594
      37 yrs23 yrsRs 654
      38 yrs22 yrsRs 720
      39 yrs21 yrsRs 792
      40 yrs20 yrsRs 873
      Age at which you start contributingNumber of yrs that you contributePension of Rs 4,000 per month
      18 yrs42 yrsRs 168
      19 yrs41 yrsRs 183
      20 yrs40 yrsRs 198
      21 yrs39 yrsRs 215
      22 yrs38 yrsRs 234
      23 yrs37 yrsRs 254
      24 yrs36 yrsRs 277
      25 yrs35 yrsRs 301
      26 yrs34 yrsRs 327
      27 yrs33 yrsRs 356
      28 yrs32 yrsRs 388
      29 yrs31 yrsRs 423
      30 yrs30 yrsRs 462
      31 yrs29 yrsRs 504
      32 yrs28 yrsRs 551
      33 yrs27 yrsRs 602
      34 yrs26 yrsRs 659
      35 yrs25 yrsRs 722
      36 yrs24 yrsRs 792
      37 yrs23 yrsRs 870
      38 yrs22 yrsRs 957
      39 yrs21 yrsRs 1,054
      40 yrs20 yrsRs 1,164
      Age at which you start contributingNumber of yrs that you contributePension of Rs 5,000 per month
      18 yrs42 yrsRs 210
      19 yrs41 yrsRs 228
      20 yrs40 yrsRs 248
      21 yrs39 yrsRs 269
      22 yrs38 yrsRs 292
      23 yrs37 yrsRs 318
      24 yrs36 yrsRs 346
      25 yrs35 yrsRs 376
      26 yrs34 yrsRs 409
      27 yrs33 yrsRs 446
      28 yrs32 yrsRs 485
      29 yrs31 yrsRs 529
      30 yrs30 yrsRs 577
      31 yrs29 yrsRs 630
      32 yrs28 yrsRs 689
      33 yrs27 yrsRs 752
      34 yrs26 yrsRs 824
      35 yrs25 yrsRs 902
      36 yrs24 yrsRs 990
      37 yrs23 yrsRs 1,087
      38 yrs22 yrsRs 1,196
      39 yrs21 yrsRs 1,318
      40 yrs20 yrsRs 1,454
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