What is Atal Pension Yojana ?
Atal Pension Yojana (APY) is a government-backed pension scheme launched in 2015. It aims to provide monthly pension benefits to unorganised sector workers after the age of 60. People between the ages of 18 and 40 can join the scheme.
Record enrolment in FY26
In the current financial year (FY26), APY has added 39 lakh new members, taking the total enrolment to over 8 crore. This shows the growing popularity and trust in the scheme
Who benefits from APY?
- The scheme primarily supports the following:
- Daily wage earners
- Farmers and street vendors
- Small shopkeepers
- Self-employed workers
- For many of them, this is the only retirement benefit they can rely on.
Monthly Pension from ₹1,000 to ₹5,000
Under the Atal Pension Yojana, subscribers get a guaranteed monthly pension of ₹1,000 to ₹5,000. The amount depends on how much and for how long they contribute.
Easy registration through banks and post offices
The registration process is simple. People can register through nationalized banks, private banks and post offices. Aadhaar-based KYC simplifies the process.
Why is APY important for India’s development?
India has a large number of unorganized workers. APY helps ensure that such workers are not left behind. It creates:
- Financial security for old age
- Financial stability in villages
- Long-term savings habits
Government’s future plans for APY
The government plans to:
- Promote digital registration
- Run awareness campaigns in rural areas
- Partner with local organizations for wider coverage
- This will help reach crores of people who are still outside the safety net.
The growth of the Atal Pension Yojana proves that India is moving towards creating a secure future for all. As a research student, I believe that such schemes empower people financially and socially.
