The Atal Pension Yojana (APY) has surpassed 8.34 crore enrolments, as informed to the Lok Sabha on Monday. Notably, women account for 48% of the total subscribers, highlighting strong participation from female beneficiaries nationwide.
Introduced in May 2015, the APY is designed to create a robust universal social security framework, especially for workers in the unorganised sector. It is available to all citizens aged 18–40 years who hold a savings bank account or post office savings account. Under the scheme, subscribers become eligible for a guaranteed pension upon reaching the age of 60, with pension disbursements set to commence from 2035 onwards.
The Finance Minister informed the House that multiple initiatives by the Government and the Pension Fund Regulatory and Development Authority (PFRDA) have accelerated awareness and adoption of the scheme. These include regular advertisements across print, electronic and social media, availability of scheme brochures in 13 vernacular languages, and virtual capacity-building programmes for banking correspondents, self-help groups and other field personnel.
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Awareness campaigns have also been supported by several institutions including NABARD, NCFE, National Rural Livelihood Mission and State Rural Livelihood Missions. In addition, digital channels such as internet banking, mobile apps and bank portals have eased online onboarding for APY subscribers.
The scheme is being implemented through the Department of Posts and a wide network of banks — including public sector banks, private banks, regional rural banks, small finance banks and cooperative banks — registered as Points of Presence under PFRDA. Financial inclusion drives aimed at pension saturation were recently held nationwide in partnership with banks and state-level banking committees.
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