The Atal Pension Yojana (APY) would continue until the fiscal year 2030–31, with additional financing for promotional efforts and gap funding, according to the Union Cabinet, which is led by Prime Minister Narendra Modi.
For low-income and unorganised sector workers, the APY seeks to provide old-age income security. Beginning at age 60, a basic pension of Rs 1,000 to Rs 5,000 per month is guaranteed.
More than 8.66 crore people have signed up since its 2015 inception. The majority of enrolments—70.44%—come from public-sector banks. By FY 23–24, the programme’s gross enrolment had increased by 24%, supporting India’s goal of a sustainable social security system.
