Atal Pension: People’s interest in investing in Atal Pension has started increasing. The total enrollment under the Atal Pension Yojana crossed the 5.20 crore mark on March 31. The total assets under this fund have crossed Rs 27,200 crore.
According to the Pension Fund Regulatory and Development Authority (PFRDA), the enrollment of new subscribers in the last financial year 2022-23 increased by 20 percent as compared to 99 lakh new subscribers enrolled in 2021-22
Atal Pension: People’s interest in investing in Atal Pension has started increasing. The total enrollment under the Atal Pension Yojana crossed the 5.20 crore mark on March 31. The total assets under this fund have crossed Rs 27,200 crore.
According to the Pension Fund Regulatory and Development Authority (PFRDA), the enrollment of new subscribers in the last financial year 2022-23 increased by 20 percent as compared to 99 lakh new subscribers enrolled in 2021-22. This time it has increased by 1.19 crores.
PFRDA said in a statement that till date, Atal Pension has total assets under management (AUM) of over Rs 27,200 crore and the scheme has generated an investment return of 8.69 per cent since inception.
These banks achieved the target
In the Public Sector Bank category, 9 banks have achieved their target. In this list, Bank of India, State Bank of India (SBI) and Indian Bank opened more than 100 APY accounts per branch.
Under the category of Regional Rural Banks, 32 banks have achieved the annual target. Jharkhand State Gramin Bank, Vidarbha Konkan Gramin Bank, Tripura Gramin Bank and Baroda Uttar Pradesh Gramin Bank opened more than 160 APY accounts per branch.
12 states completed the target
Also, Tamil Nadu Mercantile Bank, Dhanalakshmi Bank and Airtel Payments Bank have achieved the annual target of the Ministry of Finance. Apart from this, 12 states namely Bihar, Jharkhand, Assam, Uttar Pradesh, West Bengal, Madhya Pradesh, Tripura, Rajasthan, Andhra Pradesh, Chhattisgarh, Odisha and Uttarakhand have also achieved their target.
Atal Pension
Atal Pension Yojana (APY) was launched by the Government of India in 2015. This pension scheme is being run by the government to provide a source of income to the Indian citizens in their old age.
This pension scheme is being run especially for those people who are working in the unorganized sector. Under Atal Pension Yojana, the subscriber has to invest a fixed amount on monthly, quarterly or yearly basis depending on his convenience.
These people can take advantage
The scheme is open to all Indian citizens between the age of 18 to 40 years. Any citizen who is or has been a taxpayer since 01 October 2022 is not eligible to join APY.
That is, he cannot invest in this scheme. Under the Atal Pension Yojana, Rs 1000 to Rs 5000 is available every month. In case of death of the subscriber, the pension money will be received by the nominee.
