New Delhi, May 11 (Representative) Recording an uptrend over the past eight years, total subscribers under Centre’s social security scheme Atal Pension Yojana (APY) have crossed 5.25 crores. “As on date, the total assets under management (AUM) in APY is more than Rs 28,434 crore and the scheme has generated an investment return of 8.92% since inception of the scheme,” a media release from Finance Ministry said on Thursday. As per the official data, there has been a growth of 20% in enrollments under APY during financial year 2022-23 over FY 2021-22.
The APY scheme was launched in May, 2015 with the objective of delivering old age income security to all citizens of India, particularly to the workers in the unorganised sector. New APY account can be opened by any Indian citizen, in the age group of 18-40 years, who is having a savings bank account and who is not an income tax payer. Under APY, a subscriber would receive a lifelong minimum guaranteed pension of Rs 1000 to Rs 5000 per month from the age of 60 years, depending on their contributions.