Encouraged by its strong show on new Atal Pension Yojana (APY) enrolments this fiscal, pension regulator Pension Fund Regulatory and Development Authority of India (PFRDA) has now set a higher target to bring in at least 75 lakh new subscribers in 2019-20, a top official said.
“Our aspiration is to have an APY subscriber base of at least 2.25 crore by end-March next fiscal. We have already touched 1.5 crore, a level that we had aimed for this fiscal,” Supratim Bandyopadhyay, Member (Finance), PFRDA.
It may be recalled that APY’s subscriber base, at the end of March 2018, was about 97 lakh. PFRDA had already added 53 lakh new APY subscribers this fiscal. APY became operational on June 1, 2015, and is available to all citizens in the age group of 18 and 40 years.