By Nitesh Jindal, Dr Ram Manohar Lohia National Law University, Lucknow.
Atal Pension Yojana (APY) is a government backed guaranteed monthly pension scheme for all citizens, mainly for the unorganised sector, which is concerned with the income security of old age working class. Every citizen of India is eligible to avail the benefits of this scheme. This scheme, in order to address the issue of longevity in the unorganised sector, encourages mainly the unorganised class, to save for their retirement. The sole responsibility for the administration of this Scheme has been given to PFRDA (Pension Fund Regulatory and Development Authority). Continue reading