The minimum period of contribution under pension scheme APY is 20 years. 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.(: Sukanya Samriddhi Account: Why You Should Put Money By The 10th Of Every Month)Here are 10 things to know about Atal Pension Yojana (APY):1.

Who can invest Pension scheme APY is open to all citizens of the country between 18 and 40 years of age.

Opening an APY account requires a saving account either with a bank or a post office.2.

Contribution: 18-year-old APY subscribers need to contribute Rs 42-Rs 210 per month.

The contribution amount increases with increase of age.

The contribution is deducted from the subscriber's bank account through an auto debit facility.

The contribution amount depends on the age at which one enrolls in the pension scheme.

The auto withdrawal/debit facility is optional.  Here's what happens if you don't opt for it: Delayed contribution is payable with overdue interest of 1 per month for contribution for Rs.

100 or part which shall be a part of corpus, according to Pension Fund Regulatory and Development Authority (PFRDA).(: Latest Bank FD Interest Rates Offered By SBI, HDFC Bank, ICICI Bank, Indian Overseas Bank)3.

The minimum period of contribution under pension scheme APY is 20 years. 4.

Mode of contribution: APY subscribers can pay their contributions to the pension scheme in three modes: monthly, quarterly and half-yearly.5.

Pension amount: Minimum pension amounts offered under APY (Atal Pension Yojana) are fixed at Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 and Rs 5,000 per month.

The subscriber gets to choose the minimum pension amount at the time of subscription.

Any one pension amount among these five is paid to the joinee after he or she attains the age of 60 years.

This amount depends on contributions.

Higher investment returns lead to a higher pension to the subscriber.(: Why You Must Deposit Money In PPF Accounts Before Or On 5th Of Every Month)6.

Premature exit: PFRDA allows exit before the subscriber attains the age of 60 years "only in exceptional circumstances, i.e., in the event of the death/ terminal disease".7.

Atal Pension Yojana is administered by PFRDA and implemented through all the banks nationwide.8.

Death: In case of death of subscriber, the monthly pension is paid to the spouse.

This continues till the spouse of the main subscriber is alive.

After death of the spouse, the accumulated pension wealth is returned to the nominee of the subscriber, according to PFRDA.9.

APY was launched in May 2015.

PFRDA has introduced an online registration facility through eNPS or electronic-National Pension System channel.

Those looking to subscribe to Atal Pension Scheme do not need to submit any physical documents under this process. (PFRDA has explained the contribution levels vis-a-vis minimum fixed monthly pension at different ages of entry.)10.

Using a chart, pension regulator PFRDA has explained the contribution levels vis-a-vis minimum fixed monthly pension at different ages of entry.