The Atal Pension Yojana (APY) has achieved a significant milestone, surpassing 7 crore total enrollments, with more than 56 lakh new subscribers added in the financial year 2024-25, the Ministry of Finance said.
Launched on May 9, 2015, the APY is a key social security program by the central government aimed at providing pension coverage for vulnerable groups. The scheme guarantees a lifelong pension to subscribers and extends this benefit to their spouses upon the subscriber’s death.
The ministry credited the success of the APY to the collaborative efforts of banks, State Level Bankers’ Committees (SLBCs), and Union Territory Level Bankers’ Committees, which have been instrumental in delivering pension benefits to underprivileged communities, thereby expanding the social security net.
The role of the Pension Fund Regulatory and Development Authority (PFRDA) was also highlighted, noting its contribution through various state and district-level outreach initiatives aimed at promoting the scheme. PFRDA has organized training and awareness programs and has utilized multiple media channels for broader promotion. To enhance understanding, a simplified flyer explaining the APY has been distributed in Hindi, English, and 21 regional languages.
“APY has been designed to provide Sampurna Suraksha Kavach, ensuring a defined and guaranteed pension amount for life,” the ministry said.
Additionally, in the event of the deaths of both the subscriber and their spouse, the accumulated corpus is returned to the nominee, further ensuring financial security for the family.
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