Atal Pension Yojana Extended Till 2030-31 to Secure Old-Age Income

The Union Cabinet has approved a major social security decision by extending the Atal Pension Yojana (APY) till 2030-31. The move ensures continued government support for awareness, capacity building, and gap funding, strengthening old-age income security for workers in the unorganised sector and reinforcing India’s long-term financial inclusion goals.

Why in News?

The Union Cabinet of India, chaired by Narendra Modi, has cleared the continuation of Atal Pension Yojana till the financial year 2030-31, along with extended funding support.

What is Atal Pension Yojana (APY)?

Atal Pension Yojana is a flagship social security scheme focused on providing assured pension income to low-income workers.

• Launched on May 9, 2015.
• Targets unorganized sector workers such as labourers, vendors, and domestic workers.
• Offers a guaranteed monthly pension of ₹1,000 to ₹5,000 after the age of 60.

The scheme encourages long-term savings through small, regular contributions, ensuring dignity and financial stability in old age.

Cabinet Decision and Government Support

The Cabinet has approved continued government backing to maintain APY’’ sustainability and outreach.

• Funding support for awareness generation and promotional activities.
• Capacity building to improve implementation efficiency.
• Gap funding to meet viability requirements of the scheme.

This support is crucial to maintain momentum, expand coverage among vulnerable groups, and ensure the scheme remains financially viable over the long term.

Impact on Unorganized Sector

The extension directly benefits workers with limited access to formal pension systems.

• Provides old-age income security to millions of low-income earners.
• Strengthens financial inclusion by linking workers to banking and pension networks.
• Reduces dependence on family or state support in old age.

By ensuring predictable pension income, APY contributes to social stability and inclusive economic growth.

Coverage and Performance So Far

The scheme has shown strong adoption since its launch.

• As of January 19, 2026, APY has over 8.66 crore subscribers.
• It has emerged as a key pillar of India’s social security framework.
• Continued support is expected to further widen coverage in rural and informal sectors.

The steady growth reflects trust among beneficiaries and the scheme’s relevance.

Alignment with Viksit Bharat Vision

The extension supports India’s long-term development roadmap.

• Promotes a “pensioned society” with structured retirement planning.
• Complements broader goals of Viksit Bharat @2047.
• Encourages responsible savings behaviour among the workforce.

Such measures are essential for managing demographic transitions and ensuring inclusive prosperity.

About Atal Pension Yojana (APY)

Key Summary at a Glance

Question

Q. Atal Pension Yojana primarily targets which group?

A) Corporate employees
B) Government servants
C) Unorganised sector workers
D) Retired professionals