APY: By the end of December, the number of people associated with this social security scheme of the government increased to 2.75 crore.
In the financial year 2020-21, more than 52 lakh new shareholders have been associated with the Atal Pension Yojana (APY).
New Delhi: In the financial year 2020-21, more than 52 lakh new shareholders have been associated with the Atal Pension Yojana (APY). This increased the number of people associated with this social security scheme to 2.75 crore by the end of December. APY is a guaranteed pension of the government.
Under this, three benefits are offered to shareholders from the age of 60 years. Under this scheme, the shareholders are guaranteed pension, after the death of the shareholder, the wife or husband is guaranteed equal pension. Also, there is a provision to return the accumulated amount to the nominee.
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The Pension Fund Regulatory and Development Authority of India (PFRDA) said in a release that adding 52 lakh new subscribers so far in the financial year 2020-21 is a remarkable achievement, given the unprecedented challenges caused by the epidemic. This is the result of the untiring efforts of the banks. “State Bank of India alone has added more than 1.5 million new APY shareholders.
