Gross enrollments in Atal Pension Yojana surpass 8 crore
Launched with a vision to create a universal social security system for all Indians, APY is a voluntary, contributory pension scheme, focused on the poor, the underprivileged, and workers in the unorganized sector. Its remarkable success is a result of the dedicated and untiring efforts of all Banks, Department of Posts (DoP) and SLBCs/UTLBCs and the continued support of the Govt.
APY is meticulously designed to provide 'Sampurna Suraksha Kavach' (Complete Security Shield), by ensuring a guaranteed monthly pension of Rs 1,000 to Rs 5,000 for the subscriber post-60 years of age, the same pension to the spouse after the subscribers demise, and return of the accumulated corpus to the nominee after the death of both. It is open to all Indian citizens between the age of 18-40 years except those who are or have been income tax payers.
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