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Atal Pension Yojana subscribers crosses 1 crore mark (Relevant for GS Prelims, GS Mains Paper III; Economics)

Atal Pension Yojana (APY) Scheme’s subscriber base crossed 1 Crore on completion of 3 years of the Scheme launch. The current number of subscribers stands at 1.10 Crore.

About Atal Pension Yojana
Atal Pension Yojana (APY), a guaranteed Pension Scheme for citizens of India announced by the Government of India, is focused on the unorganised sector workers which constitute more than 85% of workforce. Under the APY, the guaranteed minimum pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000/ or 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers. The Spouse of the Subscriber is also eligible for pension and the nominee would be receiving the accumulated pension wealth.

Network of APY
Across the country, 1.60 lacs branches which include 20 thousand post offices offer the services of opening APY account for their customers. Out of this branch network, nearly 90% of the branches have mobilised one or more APY account in the last 3 years. Till date Rs. 3950 crores of contribution has been collected under theAtal Pension Yojana (APY) Scheme.

(Adapted from PIB)

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