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Atal Pension Yojana seeing higher participation from women, youngsters: Eco survey 2024

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Atal Pension Yojana seeing higher participation from women, youngsters: Eco survey 2024

The Economic Survey of India highlights the positive growth of India's pension sector, particularly the Atal Pension Yojana (APY) and National Pension System (NPS) schemes. The survey shows an increase in the share of women and younger individuals in the APY subscriber base. However, the report also notes that the majority of APY subscribers opt for the minimum guaranteed pension payout due to low-income households prioritizing daily expenses over savings. The survey suggests that there is potential for further growth in the NPS, especially among corporate employees and self-employed professionals. With increasing life expectancy and changing family support systems, the need for independent sources of income in old age is becoming more crucial.

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