Atal Pension Yojana: Monthly pension of just Rs 1000 opted by 78% APY subscribers, says Economic Survey 2022

Economic Survey 2022 (Atal Pension Yojana): Around 78 percent subscribers of Atal Pension Yojana (APY) have opted for just Rs 1000/month pension

Atal Pension Yojana: Monthly pension of just Rs 1000 opted by 78% APY subscribers, says Economic Survey 2022
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Economic Survey 2022 (Atal Pension Yojana): Around 78 percent subscribers of Atal Pension Yojana (APY) have opted for just Rs 1000/month pension, according to the Economic Survey 2021-22 tabled in the Parliament by Finance Minister Nirmala Sitharaman today. The survey said that 14 per cent of subscribers have opted for Rs 5000/month pension while the share of subscribers opting for Rs 2000/3000/4000 per month pension is 8%.

“As on September 2021, around 78 per cent subscribers have opted for Rs 1000 per month pension amount, as compared to 38 per cent subscribers as on March 2016. Further, as on September 2021 the share of subscribers opting for Rs2000/Rs3000/Rs4000 per month pension is 8 per cent, while 14 per cent opt for Rs5000 per month pension,” the survey said.

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The survey noted that the number of youngsters opening APY account has increased. “The age profile of the subscribers in the APY scheme suggests increasing enrolments at younger age. As on September 2021, more than 43 per cent subscribers were between 18 and 25 years, as compared to 29 per cent as on March 2016.”

The Atal Pension Yojana provides guaranteed pension up to Rs 5000 to subscribers.

The gender gap in enrolments under APY has also narrowed down with increased participation of female subscribers, which has increased from 37 per cent as of March 2016; to 44 per cent as of September 2021, the Economic Survey said.

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According to the survey, the total number of subscribers under New Pension Scheme (NPS) and Atal Pension Yojana (APY) increased from 374.32 lakh as on September 2020 to 463 lakh as on September 2021, recording a growth of 23.7 per cent over the year. The total number of subscribers under New Pension Scheme (NPS) and Atal Pension Yojana (APY) increased from 374.32 lakh as on September 2020 to 463 lakh as on September 2021, recording a growth of 23.7 per cent over the year.

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