New Delhi: The Atal Pension Yojana of the Central government has been a hit with the people. As per the information received from the Pension Fund Regulatory and Development Authority (PFRDA), 4,31,86,423 subscribers have been enrolled under the Atal Pension Yojana (APY) up to 21.07.2022.

According to Union Minister of State for Finance Dr Bhagwat Kisanrao Karad, the APY is a Government of India Scheme which was launched on 9th May, 2015, and was operationalized with effect from 1st June, 2015. It is open to all citizens of India between 18-40 years of age, having a savings bank account in a bank or post-office.

The Minister stated that the APY is a voluntary, periodic contribution-based pension scheme, under which the subscriber would receive the pension after attaining the age of 60 years. Each subscriber under APY  shall receive a Central government guaranteed minimum pension of Rs 1000 per month or Rs 2000 per month or Rs 3000 per month or Rs 4000 per month  or  Rs  5000 per month, after the age of 60  years until death, depending on the contribution chosen.

On the death of the subscriber, the same pension to the spouse as the subscriber is guaranteed by the Government of India, until the death of the spouse. After the demise of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age 60 of the subscriber, the minister stated. /BI/