Atal Pension Yojana: A Scenario Analysis of its Applicability in India

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B.V. Pushpa, N.S. Viswanath


Availability of money in the post-retirement phase of life is critical to every individual.  Only a government official in India, who forms about less than 1% of the total population, gets a pension benefit linked to Consumer Price Index (CPI). The people, in general, would like to save for the future to meet their 'normal' standards of living after they reach 60 years of age.  The Atal Pension Yojana (APY) is for a large number of unorganized labourers to enable them to get a pension of Rs. 1000/- per month for a contribution of a small sum for a long period. This entitlement has led to a lukewarm response from the unorganized labourers in India who are at the bottom line of income levels. Apart from awareness about the plan, there are some apprehensions that people believe to be truly addressed, such as the low returns guaranteed on pensions and its inadequacy, the size of the pension over a longer period, and its real value. Hence a detailed study is needed to unearth the implications and  on its applicability in the present urban India context.


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