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A total of 71,06,743 subscribers have been enrolled under Atal Pension Yojana (APY) up to January 24, 2022, during the financial year 2021-22 as per the Pension Fund Regulatory and Development Authority (PFRDA) as compared to 23,98,934 in 2016-17, stated union minister of state for finance Dr Bhagwat Kisanrao Karad in a written reply to a question in parliament.

The Minister stated that the Atal Pension Yojana is a Government of India Scheme launched on 9th May, 2015, with the objective of creating a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector. The Scheme became operational from 1st June, 2015, and is being administered by the PFRDA. It is open to all citizens of India between 18-40 years of age having a savings bank account in a bank or post-office.

There are five pension plan slabs available under the scheme namely, Rs 1000, Rs 2000, Rs 3000, Rs 4000, and Rs 5000 guaranteed by Government of India to the subscriber at the age of 60 years. On death of a subscriber, the same pension to spouse is guaranteed by Government of India, informed the MoS Finance.