Subscribers enrolled under Atal Pension Yojana surpasses 97 lakh

The government on Monday revealed that at the end of Financial Year 2017-18, 97.05 lakh subscribers have enrolled under the Atal Pension Yojana (APY) scheme.

As per the Ministry of Finance, an additional 48.21 lakh subscribers were brought under the scheme, which is 98 percent more than last year's figure of 48.83 lakhs.

In the recent past, the Pension Fund Regulatory and Development Authority (PFRDA) has taken various initiatives for the expansion and ease of operations under the APY. Online facility to view Statement of Account and ePRAN card was enabled for the ease access of account of APY subscribers, going ahead mobile applications for empowering the subscribers to view transactions and other details of their APY account was introduced.

Furthermore, for the convenience of subscribers and promoting digitisation, the PFRDA introduced an online registration facility through eNPS Channel, thus eliminating the need for any kind of document.

For the unversed, the APY scheme was launched in June 2015. 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.