Atal Pension Yojana total enrolments crossed 2.4 crore

The Atal Pension Yojana launched by Government of India is being administered by PFRDA. The scheme can be joined by any Citizen of India between the age group of 18-40 years through the bank branches or post office where one has the savings bank account. Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending upon his contributions, from the age of 60 years.  The same pension would be paid to the spouse of the subscriber after death of the subscriber,  and on the demise of both the subscriber and spouse,  the pension wealth as accumulated till age 60 years of the subscriber, is returned to the nominee.   

More than 17 lac APY accounts have already been sourced by 260 APY service Providers during the FY 2020-21. Overall, APY subscriber base has crossed 2.4 crore as on 20th August 2020. The year on year Bank Category wise number of APY enrolments is as follows: 

 

Category of Banks 

As on date (*March 31, 2016) 

As on date (March 31, 2017) 

As on date (March 31, 2018) 

As on date (March 31, 2019) 

As on date (March 31, 2020) 

Additions from April 1, 2020 to August 20, 2020 

As on date 

(August 20, 2020) 

 

Public Sector Banks 

1,693,190 

3,047,273 

6,553,397 

10,719,758 

1,56,75,442 

1,262,721 

16,938,163 

Private Banks 

218,086 

497,323 

873,901 

1,145,289 

15,62,997 

90,219 

1,653,216 

Small Finance Bank 

– 

– 

– 

9,190 

15,760 

266 

16,026 

Payment Bank 

– 

– 

– 

48,182 

3,44,001 

75,497 

419,498 

Regional Rural Banks 

476,373 

1,115,257 

1,987,176 

3,171,152 

43,30,190 

275,750 

4,605,940 

District Co-op Banks 

21,222 

29,791 

33,880 

38,863 

48,581 

403 

48,984 

State Co-op Banks 

354 

680 

805 

1,053 

4,620 

123 

4,743 

Urban Co-op Banks 

327 

3,507 

10,936 

14,469 

17,355 

957 

18,312 

DOP 

75,343 

189,998 

245,366 

270,329 

3,02,712 

2,675 

305,387 

Total 

2,484,895 

4,883,829 

9,705,461 

15,418,285 

2,23,01,658 

1,708,611 

24,010,269 

 

In the current financial year under Public Sector category, SBI has sourced the highest APY accounts so far, while under Private Sector, Axis Bank; under RRBs, Aryavart Bank and under Payment Banks, Airtel Payment Bank; have sourced the highest APY accounts. 

Out of the total subscriber base as on 20th August 2020, nearly 73.38% subscribers have opted for Rs 1000 pension plan and 16.93% for Rs 5000 pension plan, 43.52% are female subscribers and 56.45% are male subscribers, 52.55% subscribers are aged between 21 to 30 years. 

Encouraged by the increasing number of enrolments under the Scheme since its inception, PFRDA will continue its endeavour to popularize the by launching various APY Campaigns at national and State level, conduct of Town-hall meetings, engaging SLBCs and LDMs, wide publicity through digital media etc. in the FY 2020-21 to take APY enrolments to greater heights and contribute towards making India a pensioned society. 

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