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Government modifies Atal Pension Yojna to widen reach

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Prime Minister Narendra Modi
"To increase the acceptability of the scheme amongst informal sector workers, the government has modified the APY. The individual subscribers shall have an option to make the contribution on a monthly, quarterly or half yearly basis instead of on a monthly basis earlier," the Finance Ministry said in a statement.

The APY was launched by Prime Minister Narendra Modi at Kolkata on May 9, 2015.    Under the scheme, the subscriber, who must be in the age group of 18-40 years, would receive the fixed pension in the range Rs 1,000-Rs 5,000 per month after attaining the age of 60 years, depending on contribution which would vary at the age of joining.

Source: India News

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