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Over 40% Hike In Enrollments Under Atal Pension Yojana In FY22 From FY20
The Atal Pension Yojana (APY) was launched on 9 May 2015, and was operationalised from 1 June 2015
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More than 40 per cent hike in enrollments under Atal Pension Yojana (APY) in financial year (FY) 2021-22 from FY 2019-20.
This was stated by the union minister of state for finance Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.
The minister stated that the total fund allocated under APY for government co-contribution, payment of incentive to banks and gap fund, since inception up to February 2023 is Rs 2,078.94 crore.
Out of Rs 2,078.94 crore, an amount of Rs 1,529.41 crore has been released till February 2023, he added.
As per the Pension Fund Regulatory and Development Authority (PFRDA) data, during FY 2019-20, 2020-21 and 2021-22, enrollments under the Scheme were 68,83,373, 79,14,154, and 99,11,472 respectively.
Notably, the APY was launched on 9 May 2015, and was operationalised from 1 June 2015. Minimum age of joining APY is 18 years and maximum age is 40 years. As per the scheme, subscribers will receive pension benefit on attaining the age of 60 years.