Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores

Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores

Secretary DFS: Still Scope for increasing pension coverage

over-69-lacs-subscribers-join-atal-pension-yojana-paramnews

Atal Pension Yojana currently has over 69 lacs subscribers with contribution of Rs. 2690.00 crores. Chairman, PFRDA Shri Hemant G Contractor however emphasised the need of increasing the pension coverage in India at a recently concluded conference on Atal Pension Yojana. The conference organised by Pension Fund Regulatory and Development Authority (PFRDA) in the national capital saw participation from all major banks, representatives from NPCI, SCHIL, SIDBI, Access Assist and some major MFIs.

A large section of the society still does not have access to pensions and this is a cause of concern for PFRDA and Government, Shri Contactor said. Congratulating the winners of the contest organised by PFRDA the Chairman said that APY has made progress in covering the intended subscribers but much remains to be done. He mentioned that on an average, a little less than 2% of the eligible population is covered under APY and hence a lot has to be done to provide people a regular access to old age income. He also touched upon the issues of persistence in the APY accounts and asserted that the objective of the scheme is to provide pension and this will only happen if the contribution in the account has been regularly paid. He urged the APY Service Providers to educate the subscribers on the importance of the same. He also urged upon the APY Service Providers i.e Banks and Post Offices under Department of Post to achieve the targets allocated by government by putting in their best efforts.

A video message of Shri Rajiv Kumar, Secretary DFS was played during the occasion. Shri Rajiv Kumar mentioned that Atal Pension Yojana is flagship program of the Government of India under financial inclusion and financial security. The pension coverage in this country is at around 12% and banks and other stakeholder need to work towards greater coverage under the scheme. He also said that DFS is monitoring the progress under the scheme and targets allocated under the scheme to banks should be accomplished. He touched upon the subject of providing a digital platform for APY by PFRDA i.e e-APY. Secretary Shri Rajiv Kumar congratulated the banks on their performance under the campaigns and urged them to continue the work.

While the government has a pension scheme for the BPL persons but the amount is meagre and is not sufficient for old age needs. 9% of the population of India, i.e 110 million people are over 60 years and by 2030 this figure is expected to cross 180 million. The 60 plus age groups is the fastest growing demographic in the country. With increase in longevity of the people, disintegration of the joint family system in India and inflation, there is greater need for old age than ever before. Currently pension benefits are available India basically to the organised sector. Atal Pension Yojana introduced in 2015 by Government of India provides a self- contributory savings pension scheme with guaranteed pension of Rs. 1,000/- to Rs. 5,000/- with a very low contribution by the subscriber. All banks and Department of Post have pushed the product to the interiors of the country. APY has option for increasing the pension amount from Rs. 1000/- to any other amount up to Rs. 5000/- as per the savings capacity of the subscriber, and further allows the spouse to continue the account in the event of the death of the subscriber before the age of sixty years. PFRDA has also been engaging with various State Governments for providing co-contribution under the scheme. With the introduction of e-APY through Aadhaar, the banks will be able to effectively utilise the digital platform for greater coverage.

COMMENTS

Defence$type=complex$count=4$ico=1

7th CPC$type=list$m=0$cate=0$sn=0$rm=0$c=5

Name

'Aaykar Setu' mobile app,1,5th cpc,5,6th cpc,8,7th CPC,399,7th CPC Arrears,4,7th CPC Arrers,8,7th CPC Hindi News,12,7th CPC News,69,7th Pay Commission,214,Aadhaar,23,acpin,1,ad-hoc bonus,4,ad-hoc staff,1,additional hra,1,admit card,1,advance salary,1,AGEY,1,aicpin,9,aigdsu news,5,AIIMS,2,ailtc railways,7,aipr,3,Air Force,13,Air India,5,air india ltc 80 fare,4,Air Travel,6,Aircel,1,airf,15,Airlines,1,Airtel,4,alcohol policy,1,all india,5,Allowances,125,Amazon Ofers,1,Andhra Pradesh,1,anomaly committee,1,aoc,1,app download,1,Apple iPhone,3,Assam,4,Assistant Jobs,1,Bank,29,bank da,3,bank holidays,1,Bank Policies,19,banknotes,1,Bihar,9,Bihar 7th CPC,3,bihar govt employee,1,Bollywood,4,bonous,1,bonus,6,breakdown allowance,2,Breaking News,139,BRICS,1,Bsnl,11,budget,4,Business,84,ca exam pattern,1,Cabinet News,41,cadre restructuring,2,cadre review,11,CAG Report,3,CAPO News,4,Career,56,casual labour,3,casual leave,2,cat Judgement,2,cat order,3,CBDT,12,CBEC,4,CBSE,6,ccs master circular,1,ccs pension rules,2,ccs rules,4,cda rules,2,cgda,18,cgegis table,5,CGHS,86,cghs agartala,1,cghs ahmedabad,1,cghs allahabad,1,cghs bengaluru,2,cghs bhopal,1,cghs bhubaneswar,1,cghs chandigarh,1,Cghs Chennai,1,cghs dehradun,1,cghs delhi,3,cghs guwahati,1,cghs hyderabad,1,cghs indore,1,cghs jabalpur,1,cghs jaipur,1,cghs kanpur,2,cghs karnataka,1,cghs kerala,1,cghs kolkata,1,cghs lucknow,1,cghs meerut,2,cghs mumbai,1,cghs nagpur,1,cghs patna,2,cghs pune,1,cghs ranchi,2,cghs shillong,1,cghs trivandrum,2,cghs uttrakhand,1,chandigarh,1,chhattisgarh,1,child care leave,2,children education allowance,7,China,1,cisf,1,come & play scheme,1,compassionate ground appointment,2,Compensation Policy,3,composite allowance,1,condiment allowance,3,Condiment expenditure,2,consatant attendance allowance,1,contract labour,7,Conveyance Allowance,3,cpao order,21,cpf,1,cpgrams,3,cpiiw,3,cpse,68,cpse employees,7,cpse guidelines,29,cpse pay revision,2,cpse pension,5,CPSEs Pay,20,Cricket,4,cris,3,CRPF,1,CS(MA) Rules,5,csd,2,csd price list,1,Current Affairs,308,cvc circular,2,d el ed,1,daily officiating allowance,3,dearness allowances,48,dearness relief,18,Defence,221,Delhi,2,delhi high court,1,dept of post order,40,deputation,3,deputation allowance,4,desw,2,desw order,5,disability pension,5,Doctor Jobs,12,doe order,24,doppw order,7,DoPT Order,119,dot order,10,Download MedWatch App,1,Download MyMSME App,1,Download MyMSME App Celebrating Yoga,1,Download NEW ITR FORM,2,Download Swachh Bharat App,1,dpe om,33,dress allowance,5,dress code,1,EC,1,echs,21,ecil,1,EDUACTION,75,Education,7,educational qualification,1,Egineer Jobs,1,Election Commission,1,Employment,6,Entertainment,2,EPFO,23,ESIC,4,EVM,1,Ex-Servicemen,6,exam,2,exempt from tax,1,expected da,10,extra work allowance,1,Extraordinary Pension,1,Facebook,8,fact jobs,1,Family Pension,94,FAQ,2,Featured,79,festivals,1,FIFA,1,File ITR,22,Fin Min Orders,62,Finance,8,Fixed Medical Allowance,7,Flipkart,2,Football,3,FREQUENTLY ASKED QUESTIONS ON GST,1,Games,12,Ganes,2,gazette notification,12,gdce instructions,3,gds arrears,9,gds da,11,gds employees news,17,gds pay,15,gds report,17,gfr,1,GOI News,570,Goods and Services Tax,50,Goods and Services Tex,1,Google,10,government of karnataka,1,Govt Jobs,10,govt of assam,2,govt of assam pensioner,1,govt of assam staff,1,govt of chhattisgarh,1,Govt Project,324,Govt Staff News,1107,Govt Yojna,255,gpf interest rate,1,GPF Rules,12,GPRA,4,gratuity,6,group A,1,Group D,1,Gst,60,GST Rates Finder app,1,Hardship Allowance,1,Haryana Govt Employees,2,Haryana Govt order,2,hba rules,8,Health,25,High Court Judgement,2,high court order,2,hill area allowance,1,holiday list,9,Hollywood,2,honorarium,1,hpca,1,hr allowances,1,hra,2,HRA Allowances,40,iba,5,iba dr,1,ibps,2,icsil,1,ida cpse,15,income tax,20,independence day,1,India,3,India Post,12,Indian Airforce,49,Indian Army,68,Indian Navy,63,indian railway,10,IOCL Jobs,1,IRCTC,8,irtsa,2,Island Special Duty Allowance,1,ISRO,1,iti ltd,1,ITR,30,j&k govt employees,3,j&k govt pensioners,1,Japan,1,Jharkhand,3,Jio News,8,jkssb,1,jnv,7,Jobs,54,Jobs News,93,karnataka,1,kerala,4,Kerala Govt Employees,3,Kerala Govt Pensioners,2,Kolkata,1,KVS,40,kvs pension,2,labour Bureau,7,larsgess scheme,3,Latest,988,ldce,3,leave rules,1,lic pay,2,life time arrear,1,Lok Sabha,136,LTC,32,ltc 80 air fare,6,Ltd Company Jobs,2,mAadhaar App,2,macp,31,Make in India,2,Market,1,Maruti Suzuki Dzire,1,maternity leave,6,medical card,1,Medical claims,4,Meghalaya Govt Employees,1,MERIT app,1,mes,1,MGNREGA,2,mha,1,mhfw order,14,mhrd order,1,Microsoft,1,Microsoft News,1,minimum wages,7,mod order,17,mohfw order,1,monetary allowance,3,MP,1,msp,2,mtnl,2,NABARD,1,Namami Gange,5,National,705,ncjcm,20,nda,2,ndmc,1,New Delhi,3,new TRCA matrix,5,nfir,59,NGT,1,night duty allowance,2,northern railway,1,Notification,1,npci,1,nps,21,nursing allowance,2,nursing perssonsel,2,NVS,9,odisha,3,odisha govt pensioner,1,operation theater allowance,1,ordnance factory,1,orop,16,overtime allowance,6,PAN,6,pass rules,3,Passports,1,patna high court judgement,1,pay fixation,18,pcda circular,40,pco allowance,2,pdca circular,8,Pension,199,Pension Adalat,1,Pension Adalat Application Form,2,Pension faq,20,Pension revision,8,Pensioner,156,Pensioner associations,2,Pensioner Portal,12,pfrda,3,pgportal,3,pl bonous,12,PM Modi,27,PMAY,5,PMUY,1,PMVVY,1,Policies,382,Politics,35,post graduate allowance,1,post office,2,prcp in railway,4,President,2,Project Allowance,2,Promotions,19,Promotions policy,18,provisional pension,2,puducherry,1,Railway,344,railway servants pass rules,1,rajasthan govt employees,2,rajasthan govt pensioners,1,rajbhasha,1,Rajya Sabha,38,Rashtriya Swasthya Bima Yojana,1,ration money allowance,2,RBI,11,Real Madrid,1,Recruitment,6,recruitment rules,9,relhs,1,remote area allowance,1,remuneration,1,RERA Act,1,reservation criteria,10,rest rules,1,Result,5,retirement age,1,revised pay,24,revised pay matrix table,5,revised pension,3,revised vda,7,rilways,1,risk and hardship allowance,7,running staff,2,RUSA,1,s,1,SAARTHI App,1,SBI,10,SBI Rules,6,scholarship,1,Science,17,scova meeting,1,SEVA App,1,Seventh Central Pay Commission,149,SKILL INDIA Mission,1,small saving scheme,2,special allowance,3,Special LC Gate allowance,1,Sports,16,ssc jos,1,status of PPOs,2,storekeeping staff,1,strike,2,study allowance,1,study leave,1,Sukanya Samriddhi Account,2,Supreme Court,22,Supreme Court Judgement,11,Survey,1,syllabus,1,syndicate bank,1,Tarang Sanchar,1,Tax,22,tds deduction,1,teacher jobs,2,Tech,34,Telangana,1,telangana govt employees,1,Telcome,2,Telcome News,8,timely disposal of applications,1,TN Govt Employees,3,TN Govt Pensioners,2,tnusrb recruitment,1,Trade,1,trade unions,1,TRAI,1,training allowance,2,Transfer policy,25,transport allowance,4,Travelling Allowance,22,Trending Now,131,tripura govt employees,1,tripura govt pensioner,1,Trump,1,uan,1,Uber,1,ugc,1,uidai,1,UJALA Scheme,1,UP CM Yogi Adityanath,2,upgradation of pay,2,uppsc,1,UPSC Jobs,2,USA,2,Uttar Pradesh,3,vrs,2,Weather,2,West Bengal,1,Whatsapp,2,Windows 10 OS,1,World,62,World Press Freedom Day,1,You Tube,2,
ltr
item
Param News: Central Government Employee News|Latest DOPT OM: Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores
Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores
With the introduction of e-APY through Aadhaar, the banks will be able to effectively utilise the digital platform for greater coverage.
https://4.bp.blogspot.com/-KrtraF2REb4/WeUGBj4zgHI/AAAAAAAAER8/SHah-Ew9oHUdU1C4Mrhb9ula1U63I3vjgCLcBGAs/s1600/over-69-lacs-subscribers-join-atal-pension-yojana-paramnews.png
https://4.bp.blogspot.com/-KrtraF2REb4/WeUGBj4zgHI/AAAAAAAAER8/SHah-Ew9oHUdU1C4Mrhb9ula1U63I3vjgCLcBGAs/s72-c/over-69-lacs-subscribers-join-atal-pension-yojana-paramnews.png
Param News: Central Government Employee News|Latest DOPT OM
https://www.paramnews.com/2017/10/over-69-lacs-subscribers-join-atal.html
https://www.paramnews.com/
http://www.paramnews.com/
http://www.paramnews.com/2017/10/over-69-lacs-subscribers-join-atal.html
true
2671314941044517342
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy