{"id":154965,"date":"2023-08-10T12:35:22","date_gmt":"2023-08-10T07:05:22","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=154965"},"modified":"2023-08-10T12:35:24","modified_gmt":"2023-08-10T07:05:24","slug":"over-5-25-crore-subscribers-enrolled-in-atal-pension-yojana","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/over-5-25-crore-subscribers-enrolled-in-atal-pension-yojana\/","title":{"rendered":"Over 5.25 crore subscribers enrolled in Atal Pension Yojana"},"content":{"rendered":"\n

Over 5.25 crore subscribers enrolled in Atal Pension Yojana:<\/strong> The Atal Pension Yojana (APY) scheme has completed eight years of successful execution, with an impressive enrollment of more over 5.25 crore subscribers.<\/p>\n\n\n\n

Daily Current Affairs Quiz: August 2023<\/a><\/p>\n\n\n\n

Atal Pension Yojana (APY): Vision and Purpose<\/strong><\/p>\n\n\n\n

Launched in the year 2015<\/strong>, the APY was devised as a potent tool to ensure old age income security<\/strong> for every Indian citizen, with a special focus on those who toil in the unorganized sector<\/strong>. Its design aimed to cast a protective net of financial stability<\/strong>, allowing individuals to embrace their golden years without the imminent presence of financial uncertainty.<\/p>\n\n\n\n

Atal Pension Yojana (APY): A Nationwide Impact<\/strong><\/p>\n\n\n\n

Expanding its reach across the entire nation, the APY has seamlessly became an integral part<\/strong> of the Indian society. Enrollments have shown a consistent upward trajectory<\/strong> since its inception, signifying the resonance of its objectives among the populace.<\/p>\n\n\n\n

Notably, new enrollments increased by 20% in fiscal year 2022-23 compared to the prior year. This growth echoes the trend observed in FY 2021-22, which witnessed a robust 25% increase<\/strong> over FY 2020-21.<\/p>\n\n\n\n

Atal Pension Yojana (APY): Fruitful Returns<\/strong><\/p>\n\n\n\n

The APY has generated an impressive investment return<\/strong> of 8.92%, a testament to its ability to yield consistent results. The APY framework’s cumulative assets under administration have already crossed a significant Rs. 28,434 crore, reinforcing its status as a cornerstone of fiscal responsibility.<\/p>\n\n\n\n

Atal Pension Yojana (APY): Accessible and Inclusive<\/strong><\/p>\n\n\n\n

Open to every Indian citizen aged between 18 and 40 years<\/strong>, not subject to income taxation, and equipped with a savings bank account, the APY welcomes individuals from diverse walks of life. As a tangible reward for their forethought, subscribers are guaranteed a permanent minimum pension ranging from Rs. 1000 to Rs. 5000 per month upon reaching the age of 60.<\/p>\n\n\n\n

Pension Fund Regulatory and Development Authority (PFRDA): Nurturing a Pensioned Society<\/strong><\/p>\n\n\n\n

The Pension Fund Regulatory and Development Authority (PFRDA) remains committed to evolve the country into a society with a strong pension framework. As the APY embarks on its remarkable eight-year journey, it strengthens the determination to introduce an era characterized by financial security and respect for the elderly within India\u2019s populace.<\/p>\n\n\n\n

About The Pension Fund Regulatory and Development Authority (PFRDA)<\/strong><\/p>\n\n\n\n

The Pension Fund Regulatory and Development Authority (PFRDA) functions as the central body entrusted with the comprehensive supervision and regulation of pension systems<\/strong> in India. It was established in 2003 as part of the Indian National Pension Scheme under the supervision of the Ministry of Finance.<\/p>\n\n\n\n

Key Points for Competitive Examinations<\/strong><\/p>\n\n\n\n