ATAL PENSION YOJANA TOTAL ENROLMENTS CROSSED 2.4 CRORE MORE THAN 17 LAC APY ACCOUNTS SOURCED DURING FY 2020-21

 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY 

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 20^th 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 20^th 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. 

Date: 25/08/2020