Atal Pension Yojana (APY) has achieved a milestone by crossing 8.11 crore subscribers as of 21st of this month, with more than 1.17 crore new subscribers enrolled in Financial Year 2024-25. APY is rapidly gaining popularity amongst the female population and the younger generation of the country. In the Financial Year 2024-25, out of the total enrolments, 55 percent were women.
In this regard, the Pension Fund Regulatory and Development Authority (PFRDA) today organised the APY Annual Felicitation Programme in New Delhi. In the program, 44 APY Service Providers, 10 State Level Bankers’ Committee and Countrywide top five Branches and Lead District Managers were awarded for their outstanding performance in achieving the annual target under APY during the Financial Year 2024-25. APY has been implemented comprehensively across the country covering all States and Union Territories.
Addressing the event, PFRDA Chairperson S. Ramann, recognised the banking fraternity’s crucial support and shared APY’s journey of the last 10th years. He said that APY has achieved the fastest-ever 50 lakh subscribers in a single Fiscal Year, with 46 percent enrolments from youth aged between 18 to 25 years. He underlined that APY, with 48 thousand crore rupees Assets under Management and 9.12 percent Compound Annual Growth Rate since inception, is a robust and sustainable pension product.
He urged all banks, particularly private sector banks, to enhance efforts, improve persistence, and drive financial literacy to achieve pension saturation.
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