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Atal Pension Yojana completed 5 yrs on May 9, 2020 with 2.23 crore enrolment

Atal Pension Yojana achieves 2As on 9th May 2020, the total enrolment under the Atal Pension Yojana (APY) stood at 2,23,54,028 which has completed its 5 years on the same date. The scheme has been implemented comprehensively across the country covering all states and Union Territories (UTs).

  • The male to female subscription ratio of APY is 57:43.
  • The scheme has been administered by Pension Fund Regulatory and Development Authority (PFRDA).
  • In the financial year 2019-2020, almost 70 lacs subscribers were enrolled under the scheme.

About APY:

Launched on 9th May 2015 by Prime Minister Narendra Modi, its objective is to deliver old age income security particularly to the workers in the unorganised sector and Government providing guarantee of minimum pension after 60 years of age.

  • It can be subscribed by any Indian citizen in the age group of 18-40 years having a bank account.
  • It provides a minimum guaranteed pension ranging from Rs 1000 to Rs 5000 on attaining 60 years of age.

About PFRDA:

It is the statutory Authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS) and pension schemes to which this Act applies.

  • As on 30th April 2020, the total number of subscribers under NPS and Atal Pension Yojana has crossed 3.46crore and the Asset under Management (AUM) has grown to Rs 4,33,555crore.
  • Chairman– Supratim Bandyopadhyay