Pension Fund Regulatory and Development Authority of India (PFRDA) announced that the government’s Atal Pension Yojana has reached to a landmark of 80 Lakh subscribers. It further announced that the number of subscribers under APY are increasing rapidly proving the scheme to be a great success for people of the country. Here are the statistics related to Atal Pension Yojana:
As far as the contributing states to APY are concerned, Uttar Pradesh tops in terms of number of subscribers. UP state has 11.41 lakh subscribers. Bihar with 8.87 lakh APY subscribers is at second place and is followed by Tamil Nadu at third place with 6.60 lakh subscribers.
Pension Fund Regulatory and Development Authority of India (PFRDA) department is also making efforts to make Atal Pension Yojana subscription process more convenient by promoting digital initiatives. People now can apply online for APY scheme and there is no need to process any physical documents thus making the process more faster.
About APY or Atal Pension Yojana
APY is the government’s pension scheme which was started in June 1, 2015. It is available to all the citizens of India between the age group of 18-40 years. As per the scheme a person will receive pension ranging between 1000 to 5000 rs depending upon his or her contribution from the age of 60 years. The scheme has replaced earlier one named as Swavalamban scheme.
There is also a nominee process involved in the APY scheme. If a person dies then the spouse of the person will be provided the same amount of pension.