Atal Pension Yojana, since its launch Five years ago, collects over 2.2 crore subscribers.

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) said, on Monday, May 11, 2020, Government’s Scheme, Atal Pension Yojana, it launch five year ago and now it collects over 2.2 crore subscribers.

On May 9, 2015, Atal Pension Yojana, this scheme was launched and it specially considers the people who are working in the unorganized sector by Prime Minister Narendra Modi.

The subscribers figures are: for the first two years, almost 50 lakh subscribers were enrolled and in the third year, the subscribers became doubled and in the fourth year, almost 1.50 crore subscribers and now the subscribers are almost 2.2 crore. It means in the last year, 70 lakh subscribers were enrolled.

Atal Pension Yojana, it has great importance because it mainly launched for the people who are there in the unorganized sector and their jobs are not secure.

The Pension Fund Regulatory and Development Authority (PFRDA) is the nodal agency and it administers the Pension Scheme (Atal Pension Yojana) besides the National Pension Scheme (NPS) that mainly serve to the employees, who employed with the government and in the organized sector.

The Atal Pension Yojana can be subscribed by the citizen of India whose age in 18-40 years and must have a bank account. And the government is providing guarantee of minimum pension after the age of 60 years.

Atal Pension Yojana, offers the three exclusive benefits: Firstly, On attaining the age of 60 years, the minimum guaranteed pension ranging from Rs. 1,000 to Rs. 5,000. Secondly: On death of the subscriber, the amount of pension is guaranteed for lifetime to spouse. Lastly: On death of both, the subscriber and the spouse, then the entire pension corpus paid to the nominee.

This Scheme has been implemented across the country (all States and Union Territories) with male and female, subscription ratio of 57:43.