The North News
New Delhi, January 21
The Union Cabinet on Wednesday approved continuation of government’s flagship Atal Pension Yojana (APY) up to financial year 2030-31 along with extension of funding support for promotional and developmental activities and gap funding. The APY was launched on May 9, 2015 with the objective of providing old-age income security to workers in the unorganised sector. As of January 19 over 8.66 crore subscribers have been enrolled under APY.
The scheme will continue up to 2030-31 with government support for promotional and developmental activities to expand outreach among unorganised workers including awareness, capacity building, said an official release after the meeting of the Cabinet chaired by Prime Minister Narendra Modi. The APY offers a guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month starting at the age 60, based on contributions.
