InvestorQ : What is Atal pension yojana(APY) and what are the changes that have been introduced to it?
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What is Atal pension yojana(APY) and what are the changes that have been introduced to it?

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8 months ago
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The Atal Pension Yojana (APY) is a scheme backed by the government and targeted at the unorganized sector. As per the earlier guidelines of the scheme, changes to the amount of pension one wants to receive were only allowed in April and one has to wait a whole year to do the same. In lieu of this, PFRDA has decided to extend some benefits to the scheme subscribers. It has decided that the subscribers can now increase or decrease their pension amounts throughout the year.

APY was launched in May 2015, has completed its 5 years with 2.23 crore subscribers and a corpus of Rs. 11,000 crore. The scheme was highly successful over the period. However, there has been some temporary halt in its growth due to the Covid-19 outbreak. PFRDA also added that the facility of e-APY shall also be introduced this year, which will allow people to subscribe to the scheme and to make the contributions digitally.
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