In a bid to expand pension coverage and strengthen social security in rural India, the Department of Rural Development (DoRD) and the Pension Fund Regulatory and Development Authority (PFRDA) have inked a Memorandum of Understanding (MoU) to facilitate pension awareness, enrolment and support among rural households through a dedicated cadre of ‘Pension Sakhis’, the Ministry of Rural Development said in a press release.
Leveraging rural community networks
Leveraging the community institutional network of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), including Banking Correspondent (BC) Sakhis and other trained community resource persons, the partnership will raise awareness, facilitate enrolment and provide pension-related support to Self Help Group (SHG) members, rural women, Lakhpati Didis and other underserved groups.
These cadres will provide doorstep awareness, enrolment assistance and pension-related support, particularly in remote rural areas.
Digital monitoring and tracking
Digital dashboards, mobile and web-based solutions, and unique identifier-based tracking through Central Recordkeeping Agencies will support the monitoring of outreach, enrolment and the performance of Pension Sakhis, stated the press release.
Rohit Kansal, Secretary, Ministry of Rural Development, highlighted that social security is an integral pillar of the Mission’s vision of inclusive growth, helping SHG households manage vulnerabilities, build resilience and move towards greater and sustained prosperity.
Mamta Shankar, Whole Time Member (Economics), PFRDA, highlighted the need for retirement planning amid rising life expectancy and changing demographic trends. She expressed hope that the collaboration would promote the adoption of pension products, including the National Pension System (NPS), among rural households with limited access to formal retirement and social security mechanisms.
The DoRD reaffirmed its commitment to supporting the implementation of the MoU and facilitating the deployment of Pension Sakhis across the country, it said.
Both DoRD and PFRDA expressed confidence that the partnership would boost pension awareness and literacy, deepen financial inclusion and strengthen social security and protection for rural communities.
-with PIB inputs
