June 21, 2024, New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) held its Annual Atal Pension Yojana (APY) Felicitation Program at The Ashok Hotel, Chanakyapuri, New Delhi. The event was chaired by Dr. Vivek Joshi, Secretary of the Department of Financial Services (DFS). The program saw the presence of prominent figures including Dr. Deepak Mohanty, Chairman of PFRDA, Ms. Mamta Shankar, Whole Time Member (Economics) of PFRDA, and senior executives from Public and Private Sector Banks, Regional Rural Banks, and various financial institutions.
The event honored 49 APY Service Providers (SPs), 9 State Level Bankers’ Committees (SLBCs), and the top 5 branches and Lead District Managers (LDMs) nationwide for their exceptional performance in achieving enrollment targets and participating in various PFRDA/DFS campaigns during the fiscal year 2023-24.
In his keynote address, Secretary DFS Dr. Vivek Joshi congratulated the awardees and encouraged all participants to diligently work towards making India a pensioned society. He praised PFRDA’s initiative of releasing an APY informational booklet in Hindi, English, and 21 other languages listed in the Eighth Schedule of the Indian Constitution, aimed at enhancing awareness and outreach in a simple, comprehensible manner. He also acknowledged the efforts of banks in promoting the scheme across the country and urged them to motivate individuals to save regularly for their old age.
Dr. Deepak Mohanty, Chairman of PFRDA, in his special address, appreciated the banking sector’s support for APY. He highlighted PFRDA’s initiatives to increase awareness and coverage of the Atal Pension Yojana, such as conducting nationwide APY Outreach Programs and utilizing print, digital, radio, and social media for publicity. He also mentioned PFRDA’s collaboration with various central ministries and departments to disseminate information on APY to their beneficiaries. Dr. Mohanty acknowledged the Public Sector Banks (PSBs) and Regional Rural Banks (RRBs) for enrolling the highest number of subscribers in FY 2023-24.
APY has been implemented comprehensively across all States and Union Territories. As of June 20, 2024, the total gross enrollments under Atal Pension Yojana have exceeded 6.62 crore, with over 1.22 crore new subscribers enrolled in FY 2023-24, marking the highest annual increase since the scheme’s inception. The scheme achieved a 24% growth in gross enrollments during FY 23-24. APY is increasingly popular among the female population and the younger generation in India. In FY 2023-24, women constituted 52% of the total enrollments, and since the scheme’s inception, 70% of subscribers fall within the 18 to 30 age bracket.
