Record Growth in Atal Pension Yojana: A Secure Retirement for Millions

The Pension Fund Regulatory and Development Authority celebrated top-performing banks for their contributions to the Atal Pension Yojana, which saw a significant growth in enrollments. The scheme, introduced in 2015-16, provides a guaranteed pension and aims to secure the future of millions of retirees, particularly women.

The Pension Fund Regulatory and Development Authority (PFRDA) on Friday recognized outstanding banks and financial institutions contributing to the growth of the Atal Pension Yojana during a city event. This scheme, highly regarded as a retirement solution, marked an 18% increase in enrollments for the financial year 2024-25.

PFRDA Chairperson Deepak Mohanty highlighted the significant role of the South Zone in expanding the scheme. Indian Bank excelled by achieving 118% of its target, while notable performances came from 10 Regional Rural Banks, led by Andhra Pragathi Grameena Bank. The event saw participation from PFRDA officials and senior bank representatives.

Launched in the 2015-16 budget, the Atal Pension Yojana offers a fixed monthly pension between Rs 1,000 and Rs 5,000. The government's co-contribution supports subscribers not covered by statutory social security schemes or who are non-tax payers, ensuring a dignified retirement for the masses.

(With inputs from agencies.)