Over 71 lakh subscribers enrolled under Atal Pension Yojana

New Delhi: Over 71 lakh subscribers enrolled themselves under Atal Pension Yojana till January 24, 2022 in the current financial year, Union Minister of State for Finance Bhagwat Kisanrao Karad said on Tuesday.

Atal Pension Yojana (APY) was launched on May 9, 2015, with an objective of creating a universal social security system for all Indians, especially the poor workers in the unorganised sector.

The Scheme became operational with effect from June 1, 2015, and is being administered by the Pension Fund Regulatory and Development Authority (PFRDA). It is open to all citizens of India between 18-40 years of age having a savings bank account in a bank or post office.

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In a written reply to a question in Rajya Sabha, the minister said 71,06,743 subscribers have been enrolled under Atal Pension Yojana (APY) up to 24.01.2022, during the financial year 2021-22. During the 2020-21 financial year, 79,14,142 people had subscribed to the pension scheme.

“There are five pension plan slabs available under the scheme namely, Rs 1000, Rs 2000, Rs 3000, Rs 4000, and Rs 5000 guaranteed by Government of India to the subscriber at the age of 60 years. On the death of subscriber, the same pension to a spouse is guaranteed by the Government of India,” the minister said.

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