Total enrolments under Atal Pension Yojana crosses 2.4 crore

The Atal Pension Yojana launched by the Central Government and administered by Pension Fund Regulatory And Development Authority has reported over 2.4 crore enrolments.

Over 17 lakh Atal Pension Yojana accounts have already been sourced by 260 Atal Pension Yojana service providers during the FY 2020-21. Overall, Atal Pension Yojana subscriber base has surpassed 2.4 crore as on 20 August 2020.

Out of the total subscriber base as on 20 August 2020, nearly 73.38 percent subscribers have opted for Rs 1000 pension plan and 16.93 percent for Rs 5000 pension plan, 43.52 percent are female subscribers and 56.45 percent are male subscribers, 52.55 percent subscribers are aged between 21 to 30 years, said the official communiqué by PFRDA.

Atal Pension Yojana can be joined by any Citizen of India between the age group of 18-40 years through the bank branches or post office where one has the savings bank account.

Under the scheme, a subscriber would be receiving a minimum guaranteed pension of Rs 1000 to Rs 5000 per month, depending upon his contributions, from the age of 60 years.  The same pension would be paid to the spouse of the subscriber after the death of the subscriber,  and on the demise of both the subscriber and spouse,  the pension wealth as accumulated till age 60 years of the subscriber, is returned to the nominee.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Elets FSI Virtual Conclave and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.