By Our Reporter
SHILLONG, Dec 5: The Pension Fund Regulatory and Development Authority (PFRDA), in collaboration with the State Bank of India’s Local Board Committee (SLBC) in Meghalaya, organised an outreach programme on the Atal Pension Yojana (APY) scheme to promote awareness in Shillong on Wednesday.
The programme was attended by several prominent figures, including Chairman of PFRDA Deepak Mohanty, Chief General Manager of PFRDA Pravesh Kumar, and DGM of PFRDA Priyanka Gupta.
Addressing the gathering as the chief guest, Additional Chief Secretary Dr. Shakil P Ahammed urged bankers to see the APY scheme as a tool for social security, rather than just a financial product, highlighting its importance for individuals in the unorganised sector who lack employer-sponsored pension schemes. “It is a scheme for those who depend on their own financial planning for continuous income after retirement,” he said.
Mohanty, on the other hand, explained the key features of the APY, including the Government of India’s guarantee to cover any shortfall in the pension corpus, ensuring that subscribers receive the promised pension amount. He encouraged banks to educate the public about the scheme and its benefits.
Meanwhile, Kumar emphasised the advantages of enrolling in the APY early in life, citing the importance of compound growth, and urged banks to utilise PFRDA’s calculation tools during outreach activities.
During the event, two new APY subscribers shared their experiences of enrolling in the scheme to secure a stable income during retirement.
The programme also included a Q&A session, where participants asked insightful questions about the scheme, followed by a prize distribution ceremony recognising outstanding performances.