The Atal Pension Yojana (APY) subscribers have been growing fast so much so that it crossed 640.59 lakh as of March 29, 2025, reflecting year-on-year growth of 15.40 per cent. The number of subscribers for the consecutive second year grew the most in Uttar Pradesh (UP), according to a report by the Times of India. Citing the data of the Pension Fund Regulatory and Development Authority (PFRDA), the report mentions a 104.22 per cent target achievement. According to it, the number of subscribers reached 15,32,989 until December 2024, surpassing the target of 14,70,880.
Atal Pension Yojana: UP Achieves Enrolment Targets By Over 100 Per Cent
Atal Pension Yojana (APY) offers guaranteed pensions to its subscribers. The number of subscribers has grown to around 6.5 crore in the scheme until March 2025
Advertisement
Reportedly, UP has been on top in terms of the APY enrolments for two consecutive year. It has more than 1.18 crore active subscribers out of the total of nearly 6.5 crore subscribers to the scheme. PFRDA has even conferred ‘Award of Ultimatum Leader’ to the state, according to the report. The scheme received around 56 lakh enrolments last year.
Atal Pension Yojana (APY):
APY was launched on May 09, 2015. The scheme caters to unorganised sector workers and provides them with social security in old age.
It guarantees a fixed pension to the subscribers for a lifetime upon turning 60 years of age. It also ensures financial security for subscribers’ spouses. If a subscriber dies, the pension continues to the spouse and after the demise of both the subscriber and the spouse, the balance of the pension amount accumulated till the age of 60 is given back to the nominee.
Advertisement
Like the National Pension System (NPS), APY is also a contributory scheme, but the pension amount is already fixed and bucketed. The pension amount buckets under APY are: Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, and Rs 5,000. An applicant chooses the amount for pension, and based on that, the contribution amount is fixed.
The scheme is flexible and offers subscribers to contribute on a monthly, quarterly, or half-yearly basis.
Who Can Open An APY Account?
This account can be opened by anyone falling within the age bracket of 18 to 40 years of age. The person should be a resident of India and should not be an income-tax payer. In addition to this, the applicant should have a savings bank account also.
According to the PFRDA data, the number of subscribers grew from 211.42 lakh in 2020, to 640.59 lakh as of March 29, 2025.
Show comments