The Union Cabinet on Wednesday approved the continuation of the Atal Pension Yojana (APY) till the end of the 2030-31 financial year, extending government support for promotional and developmental activities as well as gap funding under the flagship social security scheme.
The decision, taken at a meeting chaired by Prime Minister Narendra Modi, is aimed at strengthening old-age income security for workers in the unorganised sector and expanding the scheme’s outreach to uncovered populations.
Launched on May 9, 2015, the Atal Pension Yojana seeks to provide a guaranteed pension to subscribers after the age of 60, particularly targeting workers in the unorganised sector who lack access to formal retirement benefits. Under the scheme, subscribers receive a fixed monthly pension ranging from Rs 1,000 to Rs 5,000, depending on their contribution levels and the age at which they join.
As of January 19, 2026, more than 8.66 crore subscribers have been enrolled under the APY, reflecting a steady expansion of its coverage over the past decade. The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) and is implemented through banks, post offices and other authorised institutions.
Also read: Atal Pension Yojana enrolments cross 8.34 cr; women at 48%
According to an official release, the continuation of the scheme will be accompanied by government funding support for promotional and developmental activities, including awareness campaigns, capacity building and measures to deepen penetration among unorganised workers. These efforts are expected to focus on groups such as daily wage labourers, construction workers, domestic workers and small traders, who remain vulnerable to income insecurity in old age.
The APY operates on a defined contribution basis, with subscribers making regular contributions during their working years. Upon reaching the age of 60, subscribers are entitled to the assured pension for life, with the spouse continuing to receive the pension after the subscriber’s death. In the event of the demise of both the subscriber and the spouse, the accumulated corpus is returned to the nominee.
Over the years, the scheme has been positioned as a key pillar of the government’s broader social security architecture, complementing initiatives such as the Pradhan Mantri Jan Dhan Yojana and the Pradhan Mantri Jeevan Jyoti Bima Yojana. The Cabinet’s decision to extend the APY till 2030–31 underscores the government’s focus on long-term pension coverage for India’s large unorganised workforce amid demographic and labour market shifts.
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