New Delhi [India], August 7 : As many as 5.33 crore subscribers have so far enrolled in Atal Pension Yojana (APY), the government's flagship social security programme launched eight years ago, the Parliament was told on Monday.
Atal Pension Yojana (APY) was launched on May 9, 2015, and was operationalised from June 1, 2015. The minimum age of joining the APY is 18 years and the maximum age is 40 years. As per the scheme, subscribers will receive pension benefits upon attaining the age of 60 years.
It aims to deliver old age income security to all citizens of India, particularly to the workers in the unorganised sector.
The Scheme offers a flexible minimum guaranteed pension of Rs 1000, Rs 2000, Rs 3000, Rs 4000 or Rs 5000 per month based on the age of joining and pension amount chosen. Accordingly, the per month subscription amount presently varies from Rs 42 to Rs 1454 on the basis of the chosen option.
The enrolments in the scheme have continuously shown an increasing trend since its inception.
A new APY account can be opened by any Indian citizen, in the age group of 18-40 years, who has a savings bank account and is not an income taxpayer.
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 back to the nominee.
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