The Union Cabinet on Wednesday approved the extension of the Atal Pension Yojana (APY) till FY 2030–31, along with the continuation of government funding support for outreach, developmental and gap-funding requirements. The decision was confirmed through an official government statement.
Cabinet Extends Atal Pension Yojana Till FY31
The move is aimed at strengthening old-age income security for workers in the unorganised sector, while also deepening financial inclusion across India. The Cabinet noted that the continuation of the scheme will help millions of low-income workers secure a stable pension after retirement.
DON'T MISS
Focus on Awareness and Capacity Building
As part of the approval, the Centre will continue to provide financial support for awareness campaigns, promotional activities, and capacity-building initiatives. These efforts are intended to expand the reach of the Atal Pension Yojana among unorganised workers, daily wage earners, and individuals with irregular income patterns who remain outside formal social security systems.
Officials said strengthening outreach is critical to increasing enrolment and ensuring that eligible beneficiaries fully understand the long-term benefits of pension planning.
Gap Funding to Ensure Sustainability
The Cabinet also approved the continuation of gap funding support to address viability concerns and ensure the long-term sustainability of the pension scheme. This funding mechanism helps maintain the financial health of APY while ensuring that guaranteed pension payouts remain secure for subscribers.
According to the government, this step will further enhance confidence among contributors and protect their retirement income.
Supporting Viksit Bharat @2047 Vision
The Centre said the extension of APY aligns with India’s broader goal of building a “pensioned society” under the Viksit Bharat @2047 vision. By securing old-age income for informal sector workers, the government aims to reduce financial vulnerability among senior citizens and promote inclusive economic growth.
About Atal Pension Yojana
Launched on May 9, 2015, the Atal Pension Yojana was designed to provide assured pension benefits to workers in the unorganised sector. Subscribers can receive a guaranteed monthly pension ranging from ₹1,000 to ₹5,000, depending on their contribution and age of enrolment.
Over the years, APY has emerged as a key pillar of India’s social security framework, offering financial stability and dignity to millions of workers after retirement.
