The Pension Fund Regulatory and Development Authority (PFRDA) along with State Bank of India’s Local Board Committee (SLBC) jointly organised the Atal Pension Yojana (APY) outreach programme to promote awareness about the APY scheme in Shillong today.
The programme was attended by several distinguished dignitaries, including Deepak Mohanty, Chairman of PFRDA, Pravesh Kumar, Chief General Manager of PFRDA, and Priyanka Gupta, DGM PFRDA. Shakil P Ahammed, Additional Chief Secretary of Meghalaya, was the chief guest and NG Yirmayai, Director of the North Eastern Council, was the guest of honour. Senior officials from the Reserve Bank of India (RBI), State Bank of India (SBI), and the state government also participated in the event.
Ahammed urged bankers to view the APY scheme as more than just a financial product, emphasising its potential as a tool for social security. “It is a scheme for the people who are not fortunate enough to work in the organised sector where the pension is paid by the employer but for the unorganised sector who depend solely on their own financial planning to get continuous income post-retirement,” he said.
Mohanty explained the scheme’s features, including the central government’s guarantee to cover any shortfall in the pension corpus, ensuring that subscribers receive the promised pension amount. He exhorted the banks to learn about the scheme and to educate the public so that they could appreciate the benefits of the scheme.
Kumar elaborated on the advantages of joining the APY at an early age, stressing the importance of compound growth. He also urged banks to use PFRDA’s calculation tools during their outreach programmes.
The event concluded with a prize distribution ceremony to recognise outstanding performances in various categories. The awards presented included the APY Citizens Choice Campaign awards for the financial year 2023-24, the Certificate of Achievement for 100% Target Achievement in the financial year 2023-24 for State Coordinators, and the Certificate of Achievement for 100% Target Achievement in the financial year 2023-24 for Local District Managers (LDMs).
