India pension News

Atal Pension Yojana (APY), the flagship social security scheme of the government was launched on May 9, 2015 by Prime Minister Narendra Modi. APY aims at delivering old age income security particularly to the workers in the unorganised sector.  

This system will enable any Pensioner to obtain an instant print-out of the latest copy of their PPO, from their Digi Locker account. This initiative will create a permanent record of their respective PPO in their Digi Locker. This facility has been created with ‘Bhavishya’ software, which is a single window platform for Pensioners.

Users must update the latest version of the app or they can also give a missed call to 97183-97183 for updating the app. UMANG app is developed by Ministry of Electronics and Information Technology (MeitY) and National e-Governance Division (NeGD) to drive Mobile Governance in India. Atal Pension Yojana is the flagship social security scheme of the government.

Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month.

Launched on May 9, 2015 by Prime Minister Narendra Modi, the APY aims at delivering old age income security particularly to the workers in the unorganised sector.  

Atal Pension Yojana is administered by PFRDA through NPS architecture and minimum age of joining APY is 18 years while maximum age is 40 years.

India's financial services sector offers huge opportunities to US companies and both the nations must increase cooperation in areas, including, infrastructure financing, insurance, pension and corporate bond market, a Ficci report said on Tuesday.

The schemes are expected to address the issue of very low coverage of life or accident insurance and old age income in the country.

After Jan Dhan, Prime Minister Narendra Modi will launch tomorrow three mega social security initiatives -- one pension and two insurance schemes.

Employers as well as formal sector workers may have to shell out more towards Employees' Provident Fund with the government proposing to include all allowances in the wages for deducting PF contribution.

Government will consider trade unions' reservations on a proposal that would enable the Centre to reduce or waive off mandatory PF contributions by employees in certain cases.

PFRDA has framed regulation for two key operative arms - NPS Trust and Pension Fund managers - for expansion and deepening of the sector.