Giving information about the Atal Pension Yojana, the Finance Ministry said that till FY23, more than 1.19 crore new subscribers got enrolled in this scheme. The ministry informed that the total assets under management in this scheme is approximately Rs 27200 crore.
Giving information about the Atal Pension Yojana, the Finance Ministry said that till FY23, more than 1.19 crore new subscribers got enrolled in this scheme. The ministry informed that the total assets under management in this scheme is approximately Rs 27200 crore.
The Finance Ministry has given a big information related to Atal Pension Yojana (APY) on Thursday night. The ministry said that over 1.19 crore new subscribers enrolled in the Atal Pension Yojana in the financial year 2022-23, which is a year-on-year growth of about 20 per cent.
Earlier in the financial year 2021-22, 99 lakh customers were connected to the Atal Pension Yojana. The ministry further said that in the Public Sector Banks (PSBs) category, 9 banks achieved the annual target. According to the Finance Ministry, Bank of India, State Bank of India and Indian Bank have opened more than 100 APY accounts per branch.
More than 5 crore enrollment
The ministry said that the total enrollment under APY since 2015 has crossed the figure of 5.20 crore till the last day of FY23 i.e. March 31, 2023. The scheme has total assets under management of around Rs 27,200 crore. The scheme has earned an Investment Return of 8.69% since the inception of the scheme .
What is Atal Pension Yojana?
Atal Pension Yojana (APY) formerly known as Swavalamban Yojana, is a government pension scheme launched by Prime Minister Narendra Modi on 9 May 2015 in Kolkata. The scheme was mentioned by former Finance Minister Arun Jaitley during his budget speech in 2015.
The scheme was launched by the central government to create a universal social security system especially for the poor, the underprivileged and the workers in the unorganized sector. However, any citizen of India can take advantage of this scheme. The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA).
What is the benefit of this scheme?
Under APY, any citizen of the country who is between 18 and 40 years old can join this scheme and at the age of 60 years can get a guaranteed minimum pension of Rs 1,000, 2,000, 3000, 4000 or 5000 rupees every month. Is. The scheme is open to all bank account holders.
This monthly pension will be given to the one who has subscribed to this scheme and then to his/her spouse. After death, the accumulated pension amount at the age of 60 years of the subscriber, will be returned to the nominee of the subscriber.
In case of untimely death of the subscriber (death before the age of 60 years), the spouse of the subscriber can continue to contribute to the APY account of the subscriber for the remaining vesting period, till the original subscriber attains the age of 60 years Takes
