- Pension Fund Regulatory and Development Authority (PFRDA) on March 16 organized a Felicitation Programme to recognize the winning APY (Atal Pension Yojana) service providers under the “We for Victory” Campaign where in more than 4 lakh accounts were mobilised by the banks.
- The Campaign was launched during 7 to 20 January, 2018 for recognizing the efforts of Zonal Heads/Circle /Regional Heads & Middle Management (Level-2) Of Banks..
- With a view to bring the economically disadvantaged section of the society in the unorganized sector within the pension fold or old age income security coverage, Government had launched the Atal Pension Yojana in May 2015.
- In order to expand the outreach of APY across the country, all the Public Sector Banks, Private Sector Banks, Regional Rural Banks, Cooperative Banks (Rural & Urban) & Department of Post are involved in the registration of subscriber under APY.
- As on date there are 233 active service providers under APY and more than 93 lacs subscribers have been registered under the scheme.
- The subscribers’ base under the Atal Pension Yojana (APY) has reachednearly93 Lakhs.
Atal Pension Yojana (APY)
- The scheme became operational from 1st June, 2015 and is available to all citizens of India in the age group of 18-40 years.
- Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending upon his contribution, from the age of 60 years.
- The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and spouse, the accumulated pension wealth is returned to the nominee.
- The APY Scheme follows the same investment pattern as applicable to the NPS contribution of Central Govt employees. During the year 2016-17, it has earned a return of 13.91%.
