Atal Pension Yojana Crosses 7 Crore Enrollments Milestone
About 7 crore people have subscribed to the Atal Pension Yojana (APY), accumulating a corpus of Rs 35,149 crore, as announced by Finance Minister Nirmala Sitharaman. The APY, launched in 2015, is a low-cost pension scheme providing a guaranteed minimum pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the contributions made by subscribers. In case of the subscriber’s death, the pension is extended to the spouse for life, and upon the demise of both, the nominee receives the entire corpus.
Subscribers and Corpus: Over 6.9 crore people have joined APY, creating a corpus of Rs 35,149 crore.
Pension Benefits: Guaranteed monthly pensions from Rs 1,000 to Rs 5,000 starting at age 60, based on contributions.
Death Benefits: Pension continues to the spouse; after both spouse and subscriber’s death, the corpus is given to the nominee.
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