Atal Pension Yojana reaches subscriber base of 80 lakh

The Pension Fund Regulatory and Development Authority of India (PFRDA) has announced that Atal Pension Yojana (APY) run by it has reached a subscriber base of 80 lakh and is growing at good pace. Uttar Pradesh is the highest contributing state at 11.41 lakh APY subscribers, followed by Bihar (8.87 lakh) and Tamil Nadu (6.60 lakh).

Atal Pension Yojana (APY)

APY became operational from June 1, 2015 with an aim to provide affordable universal access to essential social security protection to unorganized work force of country, which makes major chunk of labour force (88%). It had replaced Swavalamban scheme.

It is available to all citizens of India in the age group of 18-40 years (thus minimum period of contribution by subscriber is 20 years). Under scheme, subscriber will receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending on his contribution, from age of 60 years.

There is no exit to the scheme before the age of 60. In case of death of subscriber, the spouse of the subscriber shall be entitled for the same amount of pension till his or her death.

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Categories: India Current Affairs 2018

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Comments

  • MRUTHUNJAYA
    Reply

    APY is one of the best pension yojana.it is Good next further years. but if discontinue of min 6 months will subscription complete? plz don’t put any fine for Any discontinue. and amount will increase after 60 years of subscriber.

  • Samir
    Reply

    How to apply for the said scheme….
    Eligibility criteria for the scheme….