Cabinet Approves Extension of Atal Pension Yojana Till 2030–31

New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the Atal Pension Yojana (APY) until the financial year 2030–31, along with the extension of government funding support for promotional, developmental, and gap-funding requirements.

According to a statement issued by the Finance Ministry, the scheme will continue with government support for awareness generation, capacity building, and outreach initiatives aimed at expanding coverage among unorganised sector workers. The approval also includes gap funding to meet viability requirements and ensure the long-term sustainability of the scheme.

The Atal Pension Yojana provides old-age income security to millions of low-income and unorganised workers, while promoting financial inclusion and supporting India’s transition towards a pensioned society. The scheme also aligns with the vision of Viksit Bharat @2047 by offering sustainable social security coverage.

Launched on May 9, 2015, APY offers a guaranteed minimum monthly pension ranging from Rs 1,000 to Rs 5,000, starting at the age of 60, depending on the subscriber’s contribution.

As of January 19, 2026, the scheme has enrolled over 8.66 crore subscribers, making it a key pillar of India’s inclusive social security framework. The Finance Ministry noted that continued government support is critical to maintaining awareness, strengthening implementation capacity, and bridging viability gaps.

Data from the scheme shows that public sector banks account for 70.44 per cent of total enrolments, followed by regional rural banks at 19.80 per cent, private sector banks at 6.18 per cent, cooperative banks at 2.39 per cent, small finance banks at 0.62 per cent, and payment banks at 0.37 per cent.

The government pension scheme recorded a 24 per cent growth in gross enrolments by the end of FY 2023–24 and continues to gain rapid acceptance nationwide.

With inputs from IANS