The Centre has released nearly ₹ 100 crore as its share of contribution for the members of Atal Pension Yojana.
“Government through the Pension Fund Regulatory and Development Authority has released co-contribution for 2015-16 for 16.96 lakh eligible subscribers amounting to ₹ 99.57 crore,” said the Finance Ministry on Monday.
The social security scheme aimed at universalising pension coverage provides for a co-contribution from the government for subscribers who joined before March 31, 2016 for a period of five years. The government will pay a co-contribution of up to 50 per cent of the subscriber’s contribution up to a maximum of ₹ 1,000.
The scheme had over 30 lakh subscribers by June 30 and the Finance Ministry estimates that about 5,000 new subscribers are added every day.