The Union Cabinet has approved the continuation of Atal Pension Yojana (APY) up to FY 2030-31, along with extension of funding support for promotional and developmental activities and gap funding. The move aims to strengthen old-age income security for workers in the unorganised sector and sustain the scheme’s long-term viability.
What is Atal Pension Yojana?
Atal Pension Yojana was launched on 9 May 2015 to provide a guaranteed minimum pension to workers in the unorganised sector. It is designed to improve financial security after retirement and support wider social security coverage in India.
Key Features of the Scheme
- The scheme offers a guaranteed monthly pension of Rs. 1,000 to Rs. 5,000.
- The pension begins at the age of 60.
- Benefits depend on the contribution amount and entry age of the subscriber.
- The scheme is targeted mainly at low-income and informal sector workers.
Why the Extension Matters
The extension ensures continued government support for awareness campaigns, capacity building, and outreach among unorganised workers. It also provides gap funding to meet viability requirements and maintain the sustainability of the scheme. This support is important for expanding pension coverage and deepening financial inclusion.
Progress and Policy Significance
As of 19 January 2026, more than 8.66 crore subscribers had enrolled under APY. The scheme has become a major pillar of India’s inclusive social security framework. Its continuation supports the broader goal of building a pensioned society and contributes to the vision of Viksit Bharat @2047.
Last Modified: April 27, 2026