Photo Source: ANI
Atal Pension Yojana enrolments cross 4 crore
New Delhi, April 21, 2022 (ANI): Over 99 lakh Atal Pension Yojana accounts were opened in the financial year ended March 2022 taking the total enrolments under the scheme to 4.01 crore, the Union Ministry of Finance said on Thursday.
Around 71 percent of the enrolments have been done by public-sector banks, 19 percent by regional rural banks, 6 percent by private sector banks, and 3 percent by payment and small finance banks.
Out of the total enrolments under Atal Pension Yojana (APY) as of 31st March 2022, nearly 80 percent of subscribers have opted for a Rs 1000 pension plan and 13 percent for a Rs 5000 pension plan.
Out of the total APY subscribers, 44 percent are female subscribers while 56 percent are male subscribers. Further, out of the total APY subscribers, 45 percent are aged between 18 and 25 years, Finance Ministry said in a statement.
Atal Pension Yojana is the guaranteed pension scheme of the Government of India administered by the Pension Fund Regulatory and Development Authority (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 a 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 the subscriber and on the demise of both the subscriber and spouse, the pension wealth as accumulated till age 60 of the subscriber would be returned to the nominee. (ANI)