Need to promote pension scheme for unorganised sector stressed

The Pension Fund Regulatory Authority (PFRDA), Government of India, has conducted through SLBC, Telangana, an Outreach Programme for the banks on Friday at SBILD, West Maredpally, Secunderabad.
Speaking on the occasion, Mamta Shankar, whole-time member (Economics), PFRDA, explained that the Government of India, as a measure to create universal social security system for the under-privileged and unorganised sector workers, introduced Atal Pension Yojana scheme and all Indian citizens aged between 18 years to 40 years are eligible to join the scheme.
Under the scheme, an assured pension of Rs1,000 to Rs 5000- will be provided to the subscribers on attaining the age of 60 years. She said that so far in Telangana State about 19.37 lakh citizens have subscribed to APY, whereas 662 lakh citizens across India have subscribed to Atal Pension Yojana as on June 30.
Priyabrata Mishra, Deputy General Manager, State Bank of India, representing SLBC, said that Atal Pension Yojana scheme aimed at providing social security to the citizens in the old age needs to be promoted in a big way. He said that during the financial year up to August 15, banks in the State have enrolled 1,21,259 subscriptions. He further said that creating awareness amongst the general public is the key to increase the subscription base and banks in the State are spreading awareness on the scheme through their Financial Literacy Centres.