Lok Sabha Question No. 4366 (UNSTARRED), answered on 2021-03-22
Subject: Atal Pension Yojana
Ministry: FINANCE
Asked by: Ramdas Chandrabhanji Tadas

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

*****

## LOK SABHA UNSTARRED QUESTION NO. 4366 TO BE ANSWERED ON MARCH 22, 2021/ CHAITRA 1, 1943 (SAKA ATAL PENSION YOJANA

4366. Shri Ramdas C. Tadas

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is providing good facilities after retirement under Atal Pension Yojana;
- (b) if so, the details thereof and the fund allocated to this scheme by the Government, State/UTs-wise including Maharashtra;
- (c) the measures taken by the Government to mitigate problems in the scheme?

## ANSWER

The Minister of State (Finance) (Shri Anurag Singh Thakur)

(a) & (b) The Atal Pension Yojana is a Government of India Scheme launched on 9th May, 2015, and became operational w.e.f. 1st June, 2015. It is open to all citizens of India between 18-40 years of age, having a savings bank account in a bank or postoffice. The benefits of the scheme will arise to the subscribers on attaining the age of 60 years. Five pension plan slabs are available under the scheme namely, Rs 1000, Rs 2000, Rs 3000, Rs 4000, and Rs 5000 guaranteed by Government of India to the subscriber at the age of 60 years. On death of subscriber, same pension to spouse is guaranteed by Government of India. Return of full pension corpus to nominee in the event of death of both subscriber and the spouse. If the actual returns during the accumulation phase are higher than the assumed returns for minimum guaranteed pension, such excess will be passed to the subscribers.

The Central Government co-contributes 50% of the total contribution or Rs. 1000 per annum, whichever is lower, for those subscribers who have joined the scheme during the period 1st June, 2015 to 31st March, 2016, and who are not members of any statutory social security scheme and who are not income tax payers. The State-wise details of the funds disbursed under Government Co-contribution for the period June, 2015 to February, 2021, including Maharashtra, is enclosed at Annexure A.

- (c) The following measures are being taken by the Government to increase the enrolment under APY:
- i. Changing the mode of payment of contribution by subscriber from only monthly to monthly, quarterly, and half yearly, keeping in consideration the seasonal income earners
- ii. Subscribers now can upgrade or downgrade the Pension amount at any time during the financial year. This facility can be availed once during the financial year
- iii. Official  mobile  app  to  access  APY  accounts,  as  well  as  Value  Added  Facilities  like  E-PRAN  and  E-SOT  to  access PRAN and Statement of transactions under the APY account online
- iv. As  a  step  towards  easing  the  APY  subscribers  on-boarding,  an  alternate  paper-less  mode  for  on-boarding  bank's existing SB customers under Atal Pension Yojana has been approved by PFRDA, without using net-banking of banks.
- v. Around  17  banks  providing  on-boarding  facility  using  Net-Banking  are  identified.  The  NSDL  has  been  advised  to enable the on-boarding of subscribers using APY App using the net banking URL of these banks.
- vi. APY app is now live on Unified Mobile Application for New-age Governance (UMANG) platform.
- vii. Periodic advertisements in print and electronic media in English, Hindi and regional languages, are being made.
- viii. The  Pension  Fund  Regulatory  and  Development  Authority  (PFRDA)  officials  conduct  regular  review  meetings  with bank officials for reviewing the progress of implementation of APY across the country.
- ix. Grievance Module is available for APY Subscribers
- x. Capacity building of bank branch officials through various training programs.

******

## ANNEXURE A

## Reply to part (b) of the Lok Sabha Unstarred Question 4366 regarding Atal Pension Yojana due to reply on 22.03.2021

The State-wise details of the funds disbursed under Government Co-contribution for the period June, 2015 to February, 2021

|   S. No | Name of State/UT                   | APY Government co-contribution amount disbursed till February, 2021 (Rs. In lakh)   |
|---------|------------------------------------|-------------------------------------------------------------------------------------|
|       1 | Andaman And Nicobar Islands        | 18.21                                                                               |
|       2 | Andhra Pradesh                     | 2,974.76                                                                            |
|       3 | Arunachal Pradesh                  | 33.46                                                                               |
|       4 | Assam                              | 1,611.65                                                                            |
|       5 | Bihar                              | 5,094.18                                                                            |
|       6 | Chandigarh                         | 84.09                                                                               |
|       7 | Chhattisgarh                       | 851.86                                                                              |
|       8 | Delhi                              | 1,387.63                                                                            |
|       9 | Goa                                | 196.44                                                                              |
|      10 | Gujarat                            | 3,710.22                                                                            |
|      11 | Haryana                            | 1,197.67                                                                            |
|      12 | Himachal Pradesh                   | 666.12                                                                              |
|      13 | Jammu And Kashmir                  | 398.72                                                                              |
|      14 | Jharkhand                          | 1,133.04                                                                            |
|      15 | Karnataka                          | 4,757.94                                                                            |
|      16 | Kerala                             | 1,565.42                                                                            |
|      17 | Ladakh                             | 27.89                                                                               |
|      18 | Lakshadweep                        | 1.69                                                                                |
|      19 | Madhya Pradesh                     | 2,708.19                                                                            |
|      20 | Maharashtra                        | 5,405.41                                                                            |
|      21 | Manipur                            | 68.87                                                                               |
|      22 | Meghalaya                          | 89.70                                                                               |
|      23 | Mizoram                            | 27.92                                                                               |
|      24 | Nagaland                           | 30.02                                                                               |
|      25 | Odisha                             | 3,137.65                                                                            |
|      26 | Puducherry                         | 106.08                                                                              |
|      27 | Punjab                             | 1,078.41                                                                            |
|      28 | Rajasthan                          | 2,417.95                                                                            |
|      29 | Sikkim                             | 29.37                                                                               |
|      30 | Tamil Nadu                         | 3,956.33                                                                            |
|      31 | Telangana                          | 2,278.82                                                                            |
|      32 | Dadra &Nagar Haveli And Daman &Diu | 40.73                                                                               |
|      33 | Tripura                            | 230.31                                                                              |
|      34 | Uttar Pradesh                      | 5,611.98                                                                            |
|      35 | Uttarakhand                        | 459.47                                                                              |
|      36 | West Bengal                        | 3,690.01                                                                            |

Source: PFRDA