"This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of APY, to give additional push to cover the as yet unreached population at greater ease. PFRDA has conducted meetings with banks and Department of Post at Kolkata, Bengaluru and Mumbai respectively for the earliest rollout of the facility," the pension regulator said here in a statement on Friday.
The current APY subscribers' base is more than 54 lakh.
APY was launched on May 9, 2015, and became operational from June 1, 2015. It is available for all citizens of India in the age group of 18-40 years.
Under it, the subscribers would receive a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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