Atal Pension Yojana surges ahead with 62 lacs enrolment A total of 3.07 lac APY accounts have been sourced under One Nation One Pension. The stellar performance of the banks under the campaign includes some of the largest banks in the country namely, State Bank of India sourcing a stupendous 51,000 APY accounts and other prominent banks like Canara Bank which has sourced … [Read more...] about Atal Pension Yojana surges ahead with 62 lacs enrolment
Atal Pension Yojana
More than 58 lakhs subscribers to Atal Pension Yojana (APY) The number of subscribers of the Atal Pension Yojana (APY) during each of the last three years is as follows: Particulars As on 31.03.2016 As on 31.03.2017 As on 22.07.2017 Cumulative Subscribers 24,84,895 48,83,829 58,08,071 The funds allocated under APY during each of the last three years … [Read more...] about More than 58 lakhs subscribers to Atal Pension Yojana (APY)
PFRDA - Benefits of auto enrolment pension The Automatic enrolment with health and insurance cover under Atal Pension Yojana is expected to enhance the coverage particularly in the unorganized sector and help in saving for their retirement while they are earning. As employer contribution is voluntary, an affirmative action, there may not be much resistance to this change. The … [Read more...] about PFRDA – Benefits of auto enrolment pension
PFRDA - Target Group- Who will be auto enrolled into the pension system? Employers / Organisations/Departments employing/ engaging any person whether formally or informally will be asked to automatically enroll them into Atal Pension Yojana provided: a) They are citizens of India and are in the age group of 18 – 40 years (proposed to be extended to 50 years). b) There will … [Read more...] about PFRDA – Who will be auto enrolled into the pension system?
PFRDA - Requirement of Auto enrolment in India India has a huge unorganized or informal sector, around 83% of the workers are in informal employment where there is no formal employer – employee relationship. The job/ work arrangements are informal, not governed by any enforceable contract. Hence, the employees or workers are not covered under any kind of old age income … [Read more...] about PFRDA – Requirement of Auto enrolment