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APY is a assured pension scheme of the federal government which gives triple advantages to subscribers on attaining 60 years of age.
It gives minimal assured pension to subscribers, similar assured pension to the partner after the demise of a subscriber and return of the gathered pension wealth to the nominee.
Despite the unprecedented challenges poised attributable to pandemic, addition of greater than 52 lakh new subscribers within the monetary 12 months 2020-21 up to now has been exceptional and results of untiring efforts of banks, the Pension Regulatory Fund and Development Authority of India (PFRDA) stated within the launch.
State Bank of India alone enrolled greater than 15 lakh new APY subscribers.
PFRDA stated it’s dedicated to proceed its endeavour to popularise the scheme by varied campaigns at nationwide and state ranges, fixed engagement with bankers, participation in State-Level Banker’s Committee (SLBC) conferences, publicity by media and introducing digital on-boarding of APY subscribers.
PFRDA is the statutory authority established by an enactment of the Parliament to control, promote and guarantee orderly development of the National Pension System (NPS) and pension schemes to which this Act applies.
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