Millennium Post

PFRDA asks state govts to help widen APY reach

Pension fund regulator PFRDA has requested all the state governments to consider registering unorganised workers under Atal Pension Yojana (APY). "The Government of India is extremely concerned about the old age income security of the working poor. To encourage and enable them to take care of their old age, Atal Pension Yojana (APY) has been launched by Government of India in the year 2015 which is being administered and regulated by PFRDA," a statement from Finance 
Ministry said.

APY paves the way for securing the old age income by saving regularly a small amount during the earning phase of life, it said. 

The unorganised workforce attached with various State departments like Anganwadi, ASHA workers, Construction workers, Agriculture workers, MGNNREGA workers etc can be extended APY, it said. 

The respective state governments are also requested to co-contribute additional amount in the scheme along with the subscribers' regular contribution, it said, adding the amount contributed by state governments will enable enhanced pension to the subscribers at the age of 60 years.

State governments like, Andhra Pradesh, Gujarat and Himachal Pradesh have already notified APY and are also co-contributing for the eligible subscribers of the state between Rs 500-Rs 1000 per annum, it said.

Though more than 31 lakh subscribers have joined the scheme in past one year, it said, the support of state governments is very crucial to expand the coverage of the scheme to all the eligible persons across the country. 
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