Atal Pension Yojana (APY) is focused on all citizens in the unorganised sector. The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture.  

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Under the Atal Pension Yojana, there is a guaranteed minimum monthly pension for the subscribers ranging between Rs 1,000 and Rs 5,000 per month. The benefit of minimum pension would be guaranteed by the Government of India.

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The pension regulator PFRDA has informed via Tweet that "You can increase/decrease the APY pension amount and/or change the frequency of auto-debit (monthly/quarterly/half-yearly) of APY contributions at any time by submitting a request to the concerned APY-Service Provider bank branch."

Under the scheme, the government will also co-contribute 50 per cent of the subscriber’s contribution or Rs 1,000 per annum, whichever is lower. Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes and are not the income taxpayer. 

Atal Pension Yojana is applicable to all citizens of India aged between 18-40 years. 

On attaining the age of 60 years, the exit from Atal Pension Yojana is permitted with 100 per cent annuitisation of pension wealth. On exit, the pension would be available to the subscriber. 

In case of death of the Subscriber due to any cause, the pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee. 

And what if the Atal Pension Yojana is exit before the age of 60 years? Well, the exit before 60 years of age is not permitted however it is permitted only in exceptional circumstances, i.e., in the event of the death of the beneficiary or terminal disease.