A Study on Whether People’s Personal Costs of Living Discourage Individuals From Enrolling for the Atal Pension Yojana

Atal Pension Yojana Scheme availed for all the unorganized sector as a after retirement amount received monthly to people who apply for the same. The scheme that is operated through banks and every month deducted amount that would be accumulated has caused a lot of query and lack of understanding among the people. The inflation that revolves around the economy of India and the time value of money which results in high cost of living has been one such discouraging factor for non-application to APY Scheme. This paper focuses on to know whether the cost of living of individual is the reason for non-applications towards the scheme and to facilitate this, the data was collected using a Google form which compiled the response from the people residing in Mangalore, and the data was analyzed using a Google spreadsheet. The data was analyzed, compared, and interpreted using various statistical tools. According to the findings of the poll, we can affirm that Individuals with higher cost of living are less likely to apply for a pension Scheme like Atal Pension Yojana (APY) compared to those with lower cost of living.