Comments
Hoping to attract more subscribers to the Atal Pension Yojana (APY), the pension regulator has sought the support of State governments to expand the scheme’s reach.
The Pension Fund Regulatory and Development Authority (PFRDA) has now requested State governments to consider registering the unorganised workforce attached with State departments.
These could include anganwadi and ASHA workers, construction/agriculture workers and those under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA).
“The respective State governments are also requested to co-contribute additional amount in the scheme along with the subscribers’ regular contribution,” said the Finance Ministry in a release on Friday.
States, including Andhra Pradesh, Gujarat and Himachal Pradesh, have already notified APY and are co-contributing ₹5001,000 a year for eligible subscribers of the State.
The move comes at a time when APY has failed to attract as many subscribers as was originally planned. The scheme has attracted over 31 lakh members in the last one year but this figure is much lower than the government’s target of over two crore subscribers.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.