According to the Economic Survey 2021-22 report, awareness about financial freedom has increased among the youth.
There has been a tremendous increase in the number of subscribers of NPS and Atal Pension Yojana. Let us know the details of these schemes.
Nowadays people are becoming more aware of retirement schemes. From the very beginning of the job, people start planning for old age expenses.
According to the data of the Pension Fund Regulator (PFRDA), the asset under management under the National Pension System and Atal Pension Yojana has seen a jump of 28 per cent on a yearly basis.
Tremendous increase in pension scheme subscribers
In fact, at the end of February, the total assets of both NPS and Atal Pension Yojana pension scheme increased to Rs 7.17 lakh crore from Rs 5.59 lakh crore last year. Apart from this, there has also been a jump of about 23 percent in the number of subscribers on a yearly basis.
The number of NPS subscribers grew by 22.31 per cent on a yearly basis and reached 5.07 crores. At the same time, the subscribers of Atal Pension Yojana have increased by 29 percent on an annual basis and it has reached Rs 3.52 lakh crore.
If we look at the figures of Economic Survey 2021-22, then the awareness about financial freedom has increased among the youth. The highest growth has been seen in the youth of 18-25 years in Atal Pension Yojana.
According to the data of September 2021, the participation of youth in Atal Pension Yojana was 43% which was only 29 percent in March 2016. Let us tell you that there has been a jump of 4.94 percent in the NPS of the central employees and 9.22 percent in the NPS of the state employees. According to PFRDA, their number has increased to 22.75 lakhs and 55.44 lakhs.
What is Atal Pension Yojana
Atal Pension Scheme is such a government scheme in which the investment made by you depends on your age. Under this scheme, you can get a minimum monthly pension of Rs 1,000, Rs 2000, Rs 3000, Rs 4000 and maximum Rs 5,000. This is a safe investment in which if you want to register then you need to have a savings account, Aadhar number and a mobile number.
Atal Pension Yojana was started in the year 2015. Although, at that time this scheme was started for people working in unorganized sectors, but now any Indian citizen of 18 to 40 years can avail pension by investing in this scheme.
Those who have an account in a bank or post office can easily invest in it. In this scheme, the depositors start getting pension after 60 years.
Organized sector workers are linked to NPS
National Pension System (NPS) for senior citizens is a great scheme run by the government. Changes are made from time to time to make it more and more attractive. The maximum age of investment in NPS has been increased to 70 years. That is, a person up to 70 years of age can invest in NPS.
PFRDA has also given a big relief to those subscribers who join NPS after the age of 60 years, they can now continue the NPS account till the age of 75 years. The maturity limit for all other subscribers is 70 years.
