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Pension Scheme APY (Atal Pension Yojana): 10 Things You Must Know Before You Invest

Atal Pension Yojana (APY): Subscribers can pay their contributions to the pension scheme in three modes
Atal Pension Yojana (APY): Subscribers can pay their contributions to the pension scheme in three modes

APY or Atal Pension Yojana is a pension scheme mainly focused on unorganised sector employees. Available to all Indian citizens with a bank account, Atal Pension Scheme or APY is a government-run scheme that can be utilized to earn a fixed monthly pension of Rs 1,000-Rs 5,000, according to pension regulator PFRDA's website - pfrda.org.in. Atal Pension Yojana's subscriber base stood at 97.05 lakh at the end of fiscal year 2017-18, news agency Press Trust of India reported earlier this month. At over 97 lakh, the APY subscriber base was a tad lower than the target of 1 crore set by the regulator for the year.

Here are 10 things to know about Atal Pension Yojana (APY):

Who can invest?
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Contribution
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Latest bank FD interest rates
Mode of contribution
Pension amount
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Income tax benefit
Premature exit
Why invest in APY or Atal Pension Scheme
Death
Pension Scheme APY (Atal Pension Yojana): 10 Things You Must Know Before You Invest
(Using a chart, PFRDA explains the contribution levels vis-a-vis minimum fixed monthly pension)