Blitz Bureau
NEW DELHI: The total gross enrolments under the Atal Pension Yojana (APY) have crossed 7 crore, with an enrolment of over 56 lakh in the current fiscal (FY25) to date, according to the Pension Fund Regulatory and Development Authority (PFRDA) on October 8.
APY is a guaranteed pension scheme by the government and regulated by PFRDA.
“The scheme is in its 10th year of rollout, and has achieved a big milestone,” said the authority.
Focused on unorganised sector workers, the pension scheme provides a guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month based on contributions. The APY ensures a dignified life in old age for unorganised workers, addressing their financial insecurities and garnering their support.
A flagship social security scheme of the Government, the scheme was launched on May 9, 2015 with an aim to create a universal social security system for all Indians, especially the poor, the underprivileged and the workers in the unorganised sector.
APY provides ‘Sampurna Suraksha Kavach’ to not only the subscriber by providing a life-long defined and guaranteed pension amount, but also to the spouse by providing the same pension amount after the demise of the subscriber and then to the family by returning the entire corpus (accumulated till the age of 60 years) to the nominee after the death of the subscriber and spouse.