More than 40 lakh new subscribers have been enrolled under Atal Pension Yojana (APY) till November 13 in the current fiscal, the Pension Fund Regulatory and Development Authority (PFRDA) said in a statement on Tuesday.
“The total number of enrolments (under APY) have crossed 2.63 crore,” it said. At the end of 2019-20, APY had 2.11 crore subscribers.
APY is a guaranteed pension scheme of the government which offers triple benefits to the subscriber on attaining 60 years of age.
Under the scheme, a subscriber is entitled to a minimum guaranteed pension, same guaranteed pension to the spouse after the demise of subscriber and return of the accumulated pension wealth, as accumulated till age 60 of the subscriber, to the nominee.
During the current fiscal so far, State Bank of India has sourced more than 10 lakh new APY accounts while Canara Bank, Indian Bank, Central Bank of India, Bank of India, Bank of Baroda, Airtel Payments Bank, Punjab National Bank, Axis Bank and Indian Overseas Bank have sourced more than one lakh APY accounts.