The Atal Pension Yojana (APY) has crossed 8.34 crore enrolments, according to data shared in the Lok Sabha on Monday. Women constitute 48% of the total subscribers, reflecting significant participation from female beneficiaries across the country.
Launched in May 2015, APY aims to build a universal social security system for citizens, particularly workers in the unorganised sector. The scheme is open to individuals aged 18 to 40 years who have a savings bank or post-office account. Subscribers receive pension benefits after turning 60, and benefits are expected to begin disbursal from 2035 onward.
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.
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.
