Subscriber base of pension scheme crosses 1 cr: Centre

The government on Tuesday said that the subscriber base of the Atal Pension Yojana (APY) had crossed the one-crore mark on completion of three years of the scheme.

The current number of subscribers to the guaranteed pension scheme for citizens, which was launched by Prime Minister Narendra Modi in May 2015, stands at 1.10 crore, a government statement said.

The scheme is focused on the unorganised sector workers who constitute more than 85 per cent of the workforce in the country.

Under the scheme, the guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month will be given at the age of 60, depending on the contributions by the subscribers.

On completion of three years of the scheme, the Pension Fund Regulatory Development Authority and the Department of Financial Services in the Finance Ministry organised an outreach campaign across the country to increase enrolments in the APY by banks and the Postal Department.

--IANS

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