Home / Budget / Economic Survey /  Economic Survey 2021-22: More people opting for 1,000/month pension under Atal Pension Yojana

Economic Survey 2021-22: More people opting for 1,000/month pension under Atal Pension Yojana

Atal Pension Yojana, the flagship social security scheme of the government, was launched on May 9, 2015, to provide old-age income security particularly to the citizens in the unorganised sectors (Photo: iStock)Premium
Atal Pension Yojana, the flagship social security scheme of the government, was launched on May 9, 2015, to provide old-age income security particularly to the citizens in the unorganised sectors (Photo: iStock)

  • The age profile of the subscribers in the Atal Pension Yojana scheme suggests increasing enrolments at younger age, the economic survey said.

NEW DELHI : The Atal Pension Yojana (APY) scheme is gaining popularity among youngsters and the number of subscribers have only increased, according to the economic survey.

The age profile of the subscribers in the APY scheme suggests increasing enrolments at younger age, the survey said.

The flagship social security scheme of the government, was launched on May 9, 2015, to provide old-age income security particularly to the citizens in the unorganised sectors.

As on September 2021, more than 43% subscribers of the pension scheme were between 18 and 25 years, as compared to 29% as on March 2016. Further, more people are now opting for a pension amount of 1,000 per month, the survey report noted.

Around 78% subscribers have opted for 1,000 per month pension amount. In 2016 there were only 38% subscribers that have opted for the per month pension amount.

The gender gap in enrolments under APY has also narrowed down with increased participation of female subscribers, which has increased from 37% as of March 2016; to 44% as of September 2021.

The APY scheme is being distributed through more than 250 active APY service providers including all banks and post offices.

The Economic Survey 2022 was tabled by Finance Minister Nirmala Sitharaman in Lok Sabha today, while the Budget will be presented tomorrow at 11 am.

The Survey details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.

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