New Delhi, May 31 -- Atal Pension Yojana (APY) is a government initiative administered by the Pension Fund Regulatory and Development Authority (PFRDA) with the aim to create a universal social security system for all Indians.

Part of the broader National Pension System (NPS), it provides pension cover for the poor, underprivileged, and unorganised sector workers.

To withdraw the subscriber will have to submit a request to the associated bank / post office branch. Once accepted and successful, you will start receiving the monthly pension until death.

Tenure of the Atal Pension scheme is till subscriber reaches 60 years of age. In this case, you will receive 100% annuitisation of accumulated pension.

However, early withdrawal is allowe...