Atal Pension Yojana Sees Enrollment Surge, Crossing 7 Crore Milestone

The APY is a government-backed pension scheme that is regulated by the PFRDA. “The scheme is in its 10th year of rollout and has achieved a big milestone,” said the authority

The total gross enrollments in the Atal Pension Yojana (APY) have surpassed 70 million, with over 5.6 million new enrollments recorded in the current fiscal year (FY25) to date, according to the Pension Fund Regulatory and Development Authority (PFRDA) statement on Tuesday. 

The APY is a government-backed pension scheme that is regulated by the PFRDA. “The scheme is in its 10th year of rollout and has achieved a big milestone,” said the authority.

Targeting workers in the unorganised sector, the pension scheme offers a guaranteed minimum pension ranging from Rs 1,000 to Rs 5,000 per month, depending on contributions. The Atal Pension Yojana (APY) aims to provide a dignified life in old age for unorganised workers, addressing their financial insecurities and securing their support.

The scheme was launched on May 9, 2015, as the government's flagship social security initiative. Its goal is to establish a universal social security system for all Indians, particularly the poor, the underprivileged, and those in the unorganised sector.

“This feat of bringing in the most vulnerable sections of society under the coverage of pension has been made possible with the untiring efforts of all the banks and SLBCs/UTLBCs,” said PFRDA.

Recently, the regulatory authority has implemented various initiatives to raise awareness about the Atal Pension Yojana (APY). These efforts include conducting outreach programs at the state and district levels, organising awareness and training sessions, promoting the scheme through multiple media channels, and regularly reviewing performance.

The APY offers "Sampurna Suraksha Kavach," providing comprehensive protection not only to subscribers through a lifelong defined and guaranteed pension but also extending benefits to their spouses, who will receive the same pension amount upon the subscriber's death. Additionally, the entire accumulated corpus, up to the age of 60, is returned to the nominee after the deaths of both the subscriber and their spouse.