Atal Pension Yojana provides a minimum guaranteed

Solution

Atal Pension Yojana provides a minimum guaranteed pension ranging from Rs 1000 to Rs 5000 on attaining 60 years of age. The amount of pension is guaranteed for lifetime to the spouse on death of the subscriber. In the event of death of both the subscriber and the spouse, the entire pension corpus is paid to the nominee. Contributions to the Atal Pension Yojana (APY) are eligible for tax benefits similar to the National Pension System (NPS). Administered By: Pension Fund Regulatory and Development Authority through National Pension System (NPS). Eligibility: Any citizen of India can join the APY scheme. The age of the subscriber should be between 18-40 years. The contribution levels would vary and would be low if a subscriber joins early and increases if she joins late.