The total number of subscribers on board for the Atal Pension Yojana has surpased the 48 million mark with an addition of 8 million who signed up from April this year to November 30, as per data shared by India’s Finance Ministry. Under the scheme, citizens get guaranteed pension and the fund is managed by a government administered authority.
As of now women constitute 45 per cent of the total subscribers benefiting from the scheme. People aged between 18 to 40 years are eligible for joining the scheme as long as they have a savings account at a bank or post office. The minimum amount of guaranteed pension is between Rs 1,000-5,000 per month for citizens once they turn 60, depending on their contribution.
Citizens liable to pay income-tax, were restricted from joining the Atal Pension Yojana scheme in October.
