Gross addition of new subscribers to EPFO declines by over 4%
A report by the Ministry of Statistics & Programme Implementation (MoSPI) said the EPFO recorded a 10,993,119 gross addition of new members in 2023-24 compared to 11,498,453 in 2022-23.
A total of 71,06,743 subscribers have been enrolled under Atal Pension Yojana (APY) up to 24 January, during the financial year 2021-22, stated Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.
The Minister further stated that the Atal Pension Yojana (APY) is a Government of India Scheme launched on 9 May 2015, with the objective of creating a universal social security system for all Indians, especially the poor, the under-privileged, and the workers in the unorganised sector.
The Scheme became operational w.e.f. 1 June, 2015, and is being administered by the Pension Fund Regulatory and Development Authority (PFRDA). It is open to all citizens of India between 18-40 years of age having a savings bank account in a bank or post-office.
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There are five pension plan slabs available under the scheme namely, Rs 1000, Rs 2000, Rs 3000, Rs 4000, and Rs 5000 guaranteed by the Government of India to the subscriber at the age of 60 years. On the death of subscriber, the same pension to the spouse is guaranteed by Government of India, the Minister stated.
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