Nominee gets corpus after both subscriber and spouse die
Tax benefit: Eligible for 80CCD(1) deduction
Government co-contribution for subscribers who joined before 2016 (now closed for new subscribers)
APY Contribution Chart 2026 — Monthly Contribution to Get Rs 5,000/Month Pension
Age at Joining
For Rs 1,000/month
For Rs 3,000/month
For Rs 5,000/month
18 years
Rs 42/month
Rs 126/month
Rs 210/month
20 years
Rs 50/month
Rs 150/month
Rs 248/month
25 years
Rs 76/month
Rs 226/month
Rs 376/month
30 years
Rs 116/month
Rs 347/month
Rs 577/month
35 years
Rs 181/month
Rs 543/month
Rs 902/month
39 years
Rs 264/month
Rs 792/month
Rs 1,318/month
💡 Best age to join APY: The earlier you join, the lower your monthly contribution. Joining at 18 costs just Rs 210/month for Rs 5,000/month pension — a total investment of Rs 1.26 lakh over 42 years that gives guaranteed Rs 5,000/month for life from age 60. Extraordinary value!
How to Join APY
Visit your bank branch or use net banking/mobile app
Any bank account holder can join — savings account is mandatory
Fill APY registration form with Aadhaar and mobile number
Choose pension amount (Rs 1,000 to Rs 5,000) and contribution frequency (monthly/quarterly/annually)
Auto-debit set up from your bank account on due date
Death Benefits Under APY
Subscriber dies before 60: Spouse can continue contributing and get pension at 60, OR withdraw the full corpus
Subscriber dies after 60: Spouse receives the same pension for life
Both die: Nominee receives the full pension wealth (corpus amount)
Note: If you are an income tax payer, you are NOT eligible to join APY from October 2022 onwards. APY is now only for non-income-tax-payer citizens. Existing subscribers who were income taxpayers before this date can continue their accounts.
The minimum monthly contribution for APY depends on your age and chosen pension amount. For the minimum pension of Rs 1,000/month: Rs 42/month if you join at 18, Rs 116/month at 30, Rs 264/month at 39. For maximum pension of Rs 5,000/month: Rs 210/month at 18, Rs 577/month at 30, Rs 1,318/month at 39. The younger you join, the lower the contribution.
Yes. You can upgrade or downgrade your pension amount once per year during April. For example, if you are currently contributing for Rs 2,000/month pension, you can upgrade to Rs 3,000 or Rs 5,000 during April. However you cannot change more than once per year. The new contribution amount will be auto-debited from your account from the following month.
Missing APY contribution leads to penalties: Re 1 per month for Rs 100 contribution, Rs 2 per month for Rs 101-500, Rs 5 per month for Rs 501-1,000, and Rs 10 per month for contributions above Rs 1,000. After 6 months of non-payment, the account is frozen. After 12 months, it is deactivated. After 24 months, the account is closed and whatever corpus is there is returned to the subscriber.
📋 Sources & Methodology
Data sourced from: RBI official website · Official bank websites · SEBI · IRDAI · Ministry of Finance press releases. Rates and data verified by FinMandi Research Team. Last verified: May 2026. FinMandi does not accept payment to rank any bank or product.
Disclaimer: All scheme details are as per official government sources updated May 2026. Eligibility and benefits may change. Always verify at official government portals before applying.