Atal Pension Yojana crosses 8.11 crore enrollments with over Rs 48,000 crore AUM

New Delhi, Aug 25 (IANS) The total gross enrollments under Atal Pension Yojana (APY) have crossed 8.11 crore (as of August 21), of which more than 1.17 crore new subscribers were enrolled in FY 2024-25, the government said on Monday.

The APY, in its 10th year, achieved the fastest-ever 50 lakh subscribers in a single fiscal year, with 46 per cent enrolments from youth aged 18–25 years.

The Pension Fund Regulatory and Development Authority (PFRDA) organised the APY Annual Felicitation Programme here. S. Ramann, Chairperson, PFRDA, urged all stakeholders to continue working with dedication towards building a pensioned society.

He recognised the banking fraternity’s crucial support and shared that APY, with more than Rs 48,000 crore asset under management (AUM) and 9.12 per cent CAGR since inception, is a robust and sustainable pension product.

He urged all banks, particularly private sector banks, to enhance efforts, improve persistency, and drive financial literacy to achieve pension saturation.

APY has been implemented comprehensively across the country covering all states and Union Territories.

It is rapidly gaining popularity amongst female population and younger generation of the country. In the FY 2024-25, out of the total enrolments, 55 per cent were women.

In FY2024-25, the banking fraternity demonstrated outstanding commitment towards APY’s success.

Among public sector banks, Bank of India (126 per cent), State Bank of India (123 per cent), and Indian Bank (118 per cent) led the achievers, followed by Punjab and Sind Bank (106 per cent) and Union Bank of India (103 per cent).

In the ‘Major Private Banks’ category, IDBI Bank excelled with 145 per cent achievement.

Regional Rural Banks (RRBs) emerged as frontrunners, with Jharkhand Rajya Gramin Bank (393 per cent) and Tripura Gramin Bank (351 per cent) setting benchmarks, alongside strong performances from Punjab Gramin Bank (157 per cent), Andhra Pradesh Grameena Bank (152 per cent), and Assam Gramin Vikash Bank (149 per cent).

With APY emerging as a trusted retirement solution for millions, PFRDA reaffirmed its commitment to working closely with banks and post offices to ensure every eligible citizen is covered under the scheme, securing a dignified future for all.

--IANS

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