Tatsat Chronicle Magazine

Atal Pension Yojana Subscriber Base Crosses 71 Lakh till January

The Pension Fund Regulatory and Development Authority scheme enrolled these subscribers up to January 24, 2022, said the minister of state for finance.
February 10, 2022

Subscribers under the Centre-administered Atal Pension Yojana (APY) have crossed 71 lakh as of January 24, 2022, Minister of State for Finance Bhagwat Karad said in a written reply in the Rajya Sabha.

The government had launched the Atal Pension Yojana in May 2015 with the objective of creating a universal social security system for all Indians, especially the poor, underprivileged and workers in the unorganised sector. The scheme is run by the Pension Fund Regulatory and Development Authority (PFRDA).

“As per information received from PFRDA, 71,06,743 subscribers have been enrolled under APY up to January 24, 2022, during the financial year 2021-22,” said the minister of state for finance.

In FY20, there were 68,83,373 APY subscribers, while in the preceding year FY19, the APY enrolments stood at 57,12,824, the minister said. In FY18, there were as many as 48,21,632 subscribers under the scheme, up from 23,98,934 in FY17, Karad added.

APY is open for subscription to all citizens of India in the 18-40 age group, having a savings account in a bank or a post office. There are five pension slabs available under the scheme — ₹1,000, ₹2,000, ₹3,000, ₹4,000 and ₹5,000 per month, guaranteed by the government, at the age of 60 years. On the death of the subscriber, the same pension is guaranteed to the spouse of the deceased.