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Economy
Mahesh

22/04/22 18:28 PM IST

Atal Pension Yojana

In News 
  • The total enrollments under APY Scheme have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22.
  • Around 71% of the enrolments done by Public-sector banks, 19% by Regional Rural Banks, 6% by Private Sector Banks, 3% by Payment and Small Finance Banks.
About APY 
  • Atal Pension Yojana is the guaranteed pension scheme of Government of India administered by PFRDA.
  • The scheme 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 the savings bank account.
  • Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs. 5000 per month from the age of 60 years, depending upon his contribution.
  • The same pension would be paid to the spouse of the subscriber after the demise of subscriber and on demise of both the subscriber and spouse, the pension wealth as accumulated till age 60 of the subscriber would be returned back to the nominee.
Enrolments
  • Out of the total enrolments under APY as on 31st March 2022, nearly 80% subscribers have opted for Rs 1000 pension plan and 13% for Rs 5000 pension plan.
  • Out of the total APY subscribers 44 % are female subscribers while 56% are male subscribers.
  • Further, out of the total APY subscribers, 45% are aged between 18 and 25 years.
Source-PIB

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