The Atal Pension Yojana (APY) was launched on 9th May, 2015, and was operationalised w.e.f. 1st June, 2015. Minimum age of joining APY is 18 years and maximum age is 40 years. As per the scheme, subscriber will receive pension benefit on attaining the age of 60 years. Hence, the pension benefit under APY is expected to start from 2035 onwards. This was stated by the Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.

The Minister stated that the total fund allocated under APY for Government Co-contribution, Payment of Incentive to Banks, Promotional Campaign, and Gap fund, since inception up to February, 2023, is Rs. 2078.94 crore out of which an amount of Rs. 1529.41 crore has been released till February 2023.

Giving more information, the Minister stated that as per data provided by the Pension Fund Regulatory and Development Authority (PFRDA), the Minister stated that during FY 2019-20, 2020-21, and 2021-22, enrolments under the Scheme were 68,83,373, 79,14,154, and 99,11,472 respectively.

The Minister further stated that the following activities are being undertaken by PFRDA to promote APY and increase its coverage:

• Virtual capacity building programs for Banking Correspondents (BCs) and field staff of Banks, Self Help Group (SHG) members, bank-sakhis of SRLMs are being organised to propagate APY to eligible beneficiaries.
• Engagement with National Centre for Financial Education (NCFE), National Bank for Agriculture And Rural Development. (NABARD), National Rural Livelihoods Mission (NRLM) and various State Rural Livelihood Missions (SRLMs) to spread the awareness about APY and to reach at the grassroot level.
• Regular monitoring of Banks and State Level Bankers' Committees (SLBCs)/State-coordinators of Banks/ lead district managers (LDMs) is undertaken in respect of the allocated annual targets.
• Periodic advertisements are published in print, electronic and social media for awareness creation.
• Subscriber Awareness Programs are being conducted for subscribers through Video Conferencing (VC) in coordination with an empanelled training agency.
• Physical APY outreach program and townhall meetings are organised at various locations pan India.
• Activating online channels such as e-APY, net-banking, mobile app and bank’s web-portal, for easy online onboarding.
• APY Subscribers Information Brochure is available in 13 vernacular languages for expanding accessibility and understanding.
• APY Help Desk and Chatbot at Protean – CRA are operational for assisting APY subscribers.
• QR Codes for APY User services, APY Transactional services, APY Information services, APY Podcast/Videos, APY Call Centre are available for creating awareness regarding the benefits of APY and the services that are being offered to APY subscribers.

The State/UT-wise enrolment under APY as on 8th March, 2023, is enclosed at ANNEXURE A.

Atal Pension Yojana enrolment growth prompts expanded outreach and funding release to widen coverage and accessibility. Atal Pension Yojana requires joining between ages 18 and 40 with pension from age 60; government funding for co-contribution, bank incentives, promotional campaigns and gap funding has been allocated and largely released. Enrolments increased over three fiscal years. PFRDA pursues outreach and onboarding through capacity building for banking correspondents, partnerships with livelihood institutions, monitoring of banks and state committees, multimedia campaigns, virtual and physical subscriber programs, online channels, multilingual brochures, and customer support services.