The Atal Pension Yojana ((APY) is a Government of India Scheme launched on 9th May, 2015, with the objective of creating a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector. APY became operational w.e.f. 1st June, 2015, and is open to all citizens of India between 18-40 years of age having a savings bank account in a bank or post-office.
Atal Pension Yojana, within a period of 4 years since its launch in June, 2015, has been able to enroll nearly 1.68 crore subscribers as on 3rd July, 2019.
APY is being administered by PFRDA which has taken several steps to create awareness about the scheme. Some of the steps are as below:
- Periodic advertisements in print and electronic media.
- Capacity building of bank branch officials/ banking correspondents through various training programs so that information regarding the scheme and its benefits can be disseminated to the potential/eligible population.
- Participation in Town-hall meetings and SLBC meetings being conducted by Banks for creating awareness of the products.
- Conducting of periodic meetings with bank officials for reviewing the progress of implementation of Atal Pension Yojana across the country.
- PFRDA vigorously advises all APY Service Providers (i.e. Banks and Post Offices) to promote the scheme for outreach of the scheme to the ultimate prospective customers.
Atal Pension Yojana (APY) was launched by the Central Government on 9th May 2015 to address the risks of old age of the people working in unorganized sector and who are not covered under any statutory social security scheme