Under the Atal Pension Yojana (APY), a guaranteed pension scheme of the Government of India and administered by PFRDA, more than 28 lakhs new APY accounts have been opened during the current FY 2021-22. Overall, enrolments under APY have crossed 3.30 crore as of August 25, 2021. Out of the total enrolments under APY as of 25th August 2021, nearly 78% of subscribers have opted for a Rs 1,000 pension plan while around 14 percent for a Rs 5,000 pension plan. Further, around 44 per cent are female subscribers, and also around 44 per cent of subscribers getting enrolled are very young and belong to the age group of 18-25 years.
In the recent past, PFRDA has undertaken new initiatives like the addition of new features in the APY mobile App and its availability on the Umang platform, updation of APY FAQs, issuance of APY Subscriber Information Brochure, and APY Citizen Charter in 13 regional languages for expanding the outreach of the APY Scheme and for the benefit of existing and potential APY subscribers as well as APY service providers.
Encouraged by the increasing number of enrolments under the Scheme since its inception, PFRDA will continue its endeavor to popularize the scheme through the organization of various APY Campaigns at the national and State level, coordination with State Level Bankers’ Committee (SLBCs), and National Rural Livelihood Mission ( NRLM), advertisements through print, social & electronic media, etc. in the FY 2021-22 to take total enrolments under APY to greater heights and contribute towards making India a pensioned society.
The APY allows any Citizen of India between the age group of 18-40 years to join through the bank or post office branches where one has a savings bank account. Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs. 1,000 to Rs. 5,000 per month, depending upon his contribution, from the age of 60 years. The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and the spouse, the accumulated pension wealth as accumulated till age 60 of the subscriber is returned to the nominee.
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