Atal Pension Yojana (APY) is a government-run pension scheme focused on individuals working in the unorganised sector. Regulator PFRDA or Pension Fund Regulatory and Development Authority, which administers the Atal pension scheme, allows persons between 18 and 40 years of age to invest their money in the plan to earn a fixed income after attaining the age of 60 years, according to its website – pfrda.org.in. The contribution required to earn a fixed pension of Rs. 1,000-5,000 per month on maturity ranges from Rs. 42 to Rs. 1,454 per month, depending on the age of the subscriber.
For example, an investor who enters the scheme at age 18 is required to make a contribution of Rs. 126 per month whereas one who enters APY at age 40 needs to contribute Rs. 873 per month to earn a pension of Rs. 3,000 per month on turning 60, according to the PFRDA website.