Atal Pension Yojana (APY) reaches 53 lakhs subscribers' base

97.5% of the subscribers contributing at monthly intervals; 51.5% subscribers have opted for a monthly pension of Rs. 1000

The subscribers base under the Atal Pension Yojana (APY) has reached about 53 Lakhs. At present 235 Banks and Department of Post are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

The APY Scheme follows the same investment pattern as applicable to the NPS contribution of Central Government employees. During the year 2016-17, it has earned a return of 13.91%.

With a view to empower the APY subscribers, new functionalities have been developed where under a subscriber can view and print the ePRAN card and Statement of Transactions.

Presently males account for 62% of the subscribers and female for about 38%. Most of the subscribers have opted for monthly contribution; about 97.5% of the subscribers are contributing at monthly intervals, about 0.8% at quarterly intervals and about 1.7% at half yearly intervals.

A majority of the subscribers have opted for a monthly pension of Rs. 1000/-. Presently 51.5% subscribers have opted for a monthly pension of Rs.1000/- and 34.5% of the subscribers have opted for a monthly pension of Rs.5000.

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