Govt to extend implementation of APY through post offices soon

Aug 25,  7:58 AM Government will soon extend the benefit of the Atal Pension Yojana (APY) through Post Offices across the country to bring more people under its ambit. Currently the scheme is being implemented through banks. Responding to listeners queries during the Public Speak programme of All India Radio, Chairman of Pension Fund Regulatory and Development Authority, Hemant Contractor said the implementation of the scheme through post offices will help the people particularly from rural areas to avail its facilities. Financial Services Secretary Hasmukh Adhia said, under the Atal Pension Yojana subscribers can get a fixed minimum guaranteed monthly pension ranging from one to five thousand rupees at the age of 60 years. He said the pension will be passed on to the spouse on the death of the subscriber and thereafter, the pension corpus would be paid to the nominee. Dr. Adhia said the scheme is open for every section of the society having minimum age of 18 years and maximum 40 years.