New Pension Yojana vs. Atal Pension Yojana

Both Atal Pension Yojana (APY) and New Pension Yojana (NPY) offer post retirement financial security. However, there are some differences between both the plans which one needs to understand to make a smart investment.

Read more
  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best returns & make the most of your Golden years

We don’t spam
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated
58.9 million
Registered Consumers
26.4 million
Parameters New Pension Scheme Atal Pension Yojana
Age of Joining 18-60 years 18-40 years
Who can join? All Indian citizens (both resident or non-resident) Only resident Indians
Pension slabs No fixed slab 5 slabs -  Rs 1000; Rs 2000; Rs 3000; Rs 4000; and Rs 5000 per month
Types of Accounts Holder has two accounts: Tier 1 and Tier 2 No differentiation
Premature Withdrawal In tier 2 account, there is no restriction and money can be withdrawn at any time. However in tier 1, premature withdrawal is allowed up to certain conditions No premature withdrawal, except in death or critical illness
Government Contribution No contribution The govt. contributes maximum Rs 1000 if the account is opened before 31st December.
Tax Benefit Tax benefit is available only in Tier 1 account No tax benefit
Who manages it? It is managed by PFRDA It is administrated by the PFRDA/Government
Permanent Account Number The account holder gets the unique Permanent Retirement Account Number (PRAN), which can be used to manage NPS around the world No such facility is available
Where to open an account? An account can be opened at Point of Presence (POP) branch. You can also open it online through providers such as ICICI Direct. Approach the bank where you have a saving account
Fund managers
  • Six pension fund managers:
  • HDFC Pension Management Company
  • ICICI Pension Fund Management Company
  • Kotak Mahindra Pension Fund
  • LIC Pension Plan Fund
  • Reliance Capital Pension Fund
  • SBI Pension Funds
  • UTI Retirement Solutions
No option to choose fund manager
Nomination Facility Although nomination is not mandatory but you can nominate maximum 3 members Nomination is mandatory
Toll free number 1-800-222080 1800-180-1111 / 1800-110-001 1800-180-1111 / 1800-110-001
Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
Pension Plans
+Standard T&A Applied
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Retirement Plans
Monthly Pension Plans
Higher Returns Than Fixed Deposit
Pension Calculator
Pension Calculator
How much do you need to save for retirement?
₹ 20,000
₹ 25,000
₹ 30,000
Monthly Expenses in 2023
Edit Done
Your expense go up every year by
Today 2023 Your expenses today in 2023, at the age of 34 Yrs
Your expenses in 2043, at the age of 55 Yrs
For a monthly pension of ₹77,300
you need to invest
Calculated as per past performance of 15%
View Plan Recalculate?

Pension plans articles

Recent Articles
Popular Articles

24 May 2023

UMANG, short for "Unified Mobile Application for New-age
Read more
SSPMIS Mukhyamantri Vridhjan Pension Yojana

24 May 2023

SSPMIS Mukhyamantri Vridhjan Pension Yojana is a social welfare
Read more

24 May 2023

The SEP full form is a Simplified Employee Pension, also an
Read more

24 May 2023

SIMPLE IRA stands for Savings Incentive Match Plan for Employees
Read more
Roth IRA

24 May 2023

A Roth IRA is a type of Individual Retirement Account (IRA) that
Read more
NPS Calculator 2023
The National Pension Scheme calculator is an online tool that enables individuals to plan for their retirement
Read more
National Pension Scheme (NPS) – Govt Approved Pension Scheme
National Pension Scheme or NPS scheme is an investment cum pension plan launched by the Indian Government. This
Read more
How to Get a 50K Pension Per Month?
Retirement planning should form an essential part of your financial decision-making. As we grow older, job
Read more
How to Unfreeze NPS Account?
Are you facing trouble accessing your NPS account and being unable to deposit your recurring subscription? Do not
Read more
Post Office NPS Calculator 2023
National Pension System is a scheme launched by the Government of India that offers stability to all Indian
Read more

Download the Policybazaar app
to manage all your insurance needs.