New Delhi | January 21,2026 | SKY LINK TIMES
Cabinet Okays Atal Pension Yojana Extension:
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the Atal Pension Yojana (APY) till the financial year 2030-31, reaffirming the government’s commitment to providing old-age income security to unorganised sector workers.
Along with extending the scheme, the Cabinet also approved continued government funding support for promotional and developmental activities, as well as gap funding to ensure the long-term sustainability of the pension programme.
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Government Support for Outreach and Sustainability
According to a statement issued by the Ministry of Finance, the APY will receive government assistance for awareness generation, capacity building, and outreach efforts, especially among low-income and unorganised workers.
“The scheme will continue up to 2030-31 with Government support for promotional and developmental activities to expand outreach among unorganised workers,” the ministry said, adding that gap funding will help meet viability requirements and ensure sustainability of the scheme.
A Pillar of India’s Social Security Framework
Launched on May 9, 2015, the Atal Pension Yojana aims to provide guaranteed old-age income security to workers in the unorganised sector. Under the scheme, subscribers are entitled to a minimum assured pension ranging from ₹1,000 to ₹5,000 per month, starting at the age of 60, depending on their contribution levels.
The government said the scheme plays a crucial role in enhancing financial inclusion and supports India’s transition towards a pensioned society, aligning with the long-term vision of Viksit Bharat @2047.
Over 8.66 Crore Subscribers Enrolled
As of January 19, 2026, more than 8.66 crore subscribers have enrolled under APY, making it one of the largest pension schemes in the country and a cornerstone of India’s inclusive social security architecture.
The scheme recorded a 24 per cent growth in gross enrolments by the end of FY 2023-24, indicating its rising popularity among workers with limited access to formal retirement benefits.
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Banks Play Key Role in Enrolments
Official data shows that public sector banks account for the majority of APY enrolments, contributing 70.44 per cent of total subscribers. This is followed by:
• Regional Rural Banks (RRBs): 19.80%
• Private Sector Banks: 6.18%
• Cooperative Banks: 2.39%
• Small Finance Banks: 0.62%
• Payment Banks: 0.37%
The Finance Ministry emphasised that sustained government backing is essential for continued awareness, capacity building, and bridging of financial gaps, particularly to reach workers in rural and informal employment sectors.
Strengthening Long-Term Social Security
With the Cabinet’s approval, the Atal Pension Yojana is set to continue as a key social safety net for millions of Indians, ensuring dignity and financial stability in old age while reinforcing the government’s broader social welfare agenda.
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