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In a bid to expand the outreach of Atal Pension Yojana (APY), Pension Fund Regulatory and Development Authority (PFRDA) on Friday said it has now introduced "'APY@eNPS" which involves a complete digital enrolment process.
"This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of APY, to give additional push to cover the as yet unreached population at greater ease. PFRDA has conducted meetings with banks and Department of Post at Kolkata, Bengaluru and Mumbai respectively for the earliest rollout of the facility," the pension regulator said here in a statement on Friday.
The current APY subscribers' base is more than 54 lakh.
APY was launched on May 9, 2015, and became operational from June 1, 2015. It is available for all citizens of India in the age group of 18-40 years.
Under it, the subscribers would receive a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.