The APY was launched by Honourable Prime Minister of India on 09th May, 2015 and became operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40 years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY. There are more than 31 lacs subscribers registered in the scheme till date.
PFRDA had conducted strategy meeting on 04.08.2016 at Mumbai for Public Sector Banks, Private Sector Banks and Regional Rural Banks having their head office in Western part of India.
Shri A G Das had addressed the meeting where Chairmen/Senior officials of the Banks/RRBs were present. A review on the past and current performance of the banks vis-a-vis their target for last and current financial year was conducted. The APY service providers-Banks finalized a cohesive action cum strategy plan to meet stipulated target, ensure penetration of APY to the last mile and to resolve the issues in promoting the scheme to grass root level.
PFRDA had offered capacity building assistance for Staffs/BCs of the banks and other promotional material assistance as well. Till July, 2016 more than 1 Lac Bankers and Post Office officials were trained for APY and this exercise of PFRDA is an on-going activity.
