The government launched the Atal Pension Yojana (APY) on 1 June 2015 to provide social security to the workers of the unorganized sector.
APY Aadhaar eKYC: Joining Atal Pension Yojana has become easier now. Pension Fund Regulator PFRDA has approved the addition of Atal Pension Yojana subscribers through Aadhaar e-KYC as an additional option. The Pension Fund Regulator and Development Authority (PFRDA) has taken this step to make the Atal Pension Yojana reach as many people as possible and simplify the process. At present, the pension regulator is giving the option to the subscribers to join through physical, net banking and other digital modes.
APY account will be seeded with Aadhaar
PFRDA said in a notification, “In order to make the scheme accessible to maximum people and to simplify the process, the Central Record Keeping Agency (CRA) will give an additional option in the form of Aadhaar eKYC. This process will be completely paperless. In addition, PFRDA said that all Atal Pension Yojana accounts will be linked with the Aadhar card. The CRA agency will prepare a system to link Aadhaar with Atal Pension Yojana. However, APY-SPs (Atal Pension Yojana – Service Providers) can collect Aadhaar details from the subscribers after taking their approval, which will then be shared with the CRA for seeding.
PFRDA says, “CRAs are advised to engage with all APY-SPs for system level integration so that the framework for e-KYC based APY on-boarding and approval for Aadhaar seeding is put in place at the earliest. able.
Scheme launched in 2015
The government launched the Atal Pension Yojana (APY) on 1 June 2015 to provide social security mainly to the workers of the unorganized sector. Its objective is to create a universal social security system for all Indians, especially workers of disadvantaged and limited means. According to PFRDA data, the number of subscribers under APY as on August 31, 2021 was 304.51 lakh.
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