PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Atal Pension Yojana (APY) Conference for Banks in Odisha
A conference on Atal Pension Yojana (APY) for Banks in Odisha was organized by PFRDA with the help of NABARD on 04th September, 2015 at Regional Office, NABARD, Bhubaneshwar, Odisha. The Public Sector Banks, Regional Rural Banks, District Central Cooperative Banks, State Apex Cooperative Banks and Urban Cooperative Banks in Odisha participated in the conference.
The objective of the conference was to enhance the role of the Banks in the recently launched flagship pension scheme of the country Atal Pension Yojana (APY). The scheme provides minimum Govt guaranteed monthly pension to subscribers from Rs 1000-Rs 5000 along with GoI co-contribution to eligible subscribers for an amount up to Rs 1000 for a period of five years provided one register by December 2015. All Indian Citizens in the age group of 18-40 years may join the scheme through any bank branch.
Shri Hemant G. Contractor, Chairman PFRDA briefed about the contours of Old Age income security and advised all the participants to play an active part in outreach of the scheme. The gathering was welcomed by Shri A G Das, CGM, PFRDA. Shri S K Kale, CGM, NABARD highlighted the importance of adopting APY by the Cooperative Banks of Odisha and elaborated various facets of financial inclusion. Orissa State has a population of 4.20 cr and 40% of the population is in the age group of 18-40 years. This demographic dividend of the State provides ample scope for PFRDA to target the scheme in a more meaningful manner.
During the day, Chairman, PFRDA met Shri Gokul Chandra Pati, Chief Secretary, Government of Odisha and Secretaries of various departments of the state to solicit their support in offering the pension scheme to the unorganized workforce attached to the departments. The Chief Secretary had evinced interest in the long term benefits of APY and assured the state government’s support in all possible ways for a wide reach.
The Chairman, PFRDA also urged the state to implement NPS more inclusively among the State Autonomous Bodies, Universities and Colleges of the State. As on date, the state has more than 1 lac NPS subscribers employed in the various departments of the state and have contributed more than 960 crores into NPS. The State had notified NPS for its employees effective from 1st Jan 2005. There are ten Orissa state autonomous bodies registered under NPS.