Atal Pension Yojana Latest News: The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday said that over 40 lakh new subscribers have enrolled themselves under the Atal Pension Yojana (APY) so far this fiscal year. Also Read - New Rules For Several Financial Transactions to Kick in From July 1
Issuing a statement, the PFRDA said that with the new additions, the total enrolments under the APY have crossed 2.63 crore. Also Read - PFRDA hopes to reach 2.72 cr subscribers under APY, NPS by Mar-end: Contractor
Notably, the APY is a guaranteed pension scheme of the Central government which offers triple benefits to the subscriber, on attaining 60 years of age. Also Read - PFRDA notifies new norms for pension distribution channels
The APY benefits include minimum guaranteed pension to the subscriber, same guaranteed pension to the spouse after the demise of subscriber and return of the accumulated pension wealth till age 60 of the subscriber to the nominee.
“More than 40 lakh new subscribers have been enrolled under APY during the financial year 2020-21 (April 1, 2020 – November 13, 2020),” the PFRDA said.
As per updates from the PFRDA, the State Bank of India sourced more than 10 lakh new APY accounts while Canara Bank, Indian Bank, Central Bank of India, Bank of India, Bank of Baroda, Airtel Payments Bank Ltd, Punjab National Bank, Axis Bank Ltd and Indian Overseas Bank sourced more than one lakh accounts.
(With input from agencies)