Atal Pension Yojana, the Government of India’s social security scheme, has crossed the 7 crore mark for gross enrollments, the Pension Fund Regulatory and Development Authority (PFRDA) said on Tuesday.
The financial year FY25 saw over 56 lakh new enrollments, contributing to this achievement. Launched on May 9, 2015, the scheme is now in its 10th year of roll out.
PFRDA has recently taken several initiatives to increase awareness of the scheme. These include APY Outreach Programs at state and district levels, awareness and training sessions, promoting APY through various media channels, and distributing flyers in Hindi, English, and 21 regional languages.
APY was introduced on June 1, 2015, to create a universal social security system for all Indians, particularly for the poor, the underprivileged, and workers in the unorganised sector.
It offers a guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month, depending on the contributions made by subscribers.
Upon the death of both the subscriber and spouse, the nominee receives the entire pension corpus.
Subscribers contribute until the age of 60 through auto-debit from their savings accounts, ensuring a simple and hassle-free contribution process. The government guarantees the pension, making APY one of the few social security schemes in India that provides a lifelong pension and security to the family of the deceased.
