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More than 28 lakh subscribers enrolled in first five months of current FY 2021-22

Under the Atal Pension Yojana (APY), a guaranteed pension scheme of Government of India and administered by PFRDA, more than 28 lakh new APY accounts have been opened during current FY 2021-22. Overall, enrolments under APY has crossed 3.30 crore as on 25th August 2021.

Atal Pension Yojana total enrolments crossed 3.30 crore

The year on year Bank Category wise number of APY enrolments is as follows

Category of Banks

As on (March 31, 2016)

As on (March 31, 2017)

As on (March 31, 2018)

As on (March 31, 2019)

As on (March 31, 2020)

As on (March 31, 2021)

Additions from April 1, 2021 to August 25, 2021

As on (August 25, 2021)

Public Sector Banks

1,693,190

3,047,273

6,553,397

10,719,758

1,56,75,442

2,12,52,435

20,74,420

2,33,26,855

Private Banks

218,086

497,323

873,901

1,145,289

15,62,997

19,86,467

77,875

20,64,342

Small Finance Bank & Payment Bank

57372

359761

853914

224705

1078619

Regional Rural Banks

476,373

1,115,257

1,987,176

3,171,152

43,30,190

57,10,770

4,21,104

61,31,874

Cooperative Banks

21,903

33,978

45,621

54,385

70,556

80,073

4,554

84,627

DOP

75,343

189,998

245,366

270,329

3,02,712

3,32,141

7,774

3,39,915

Total

24,84,895

48,83,829

97,05,461

1,54,18,285

2,23,01,658

3,02,15,800

28,10,432

3,30,26,232

The Top Banks having more than 1 lakh APY enrolments during current FY 2021-22 are

Sr. No.

Bank Name

Number of APY accounts enrolled between April 1, 2021 to August 24, 2021

1

State Bank of India

7,99,428

2

Canara Bank

2,65,826

3

Airtel Payments Bank Limited

2,06,643

4

Bank Of Baroda

2,01,009

5

Union Bank of India

1,74,291

6

Bank Of India

1,30,362

7

Indian Bank

1,13,739

8

Central Bank of India

1,04,905

9

Punjab National Bank

1,01,459

The Top states having more than 10 lakh enrolments under the APY as on 25th August 2021 are

Sr. No

State Name

Number of APY enrolments

1

Uttar Pradesh

49,65,922

2

Bihar

31,31,675

3

West Bengal

26,18,656

4

Maharashtra

25,51,028

5

Tamil Nadu

24,55,438

6

Andhra Pradesh

19,80,374

7

Karnataka

19,74,610

8

Madhya Pradesh

19,19,795

9

Rajasthan

16,16,050

10

Gujarat

13,50,864

11

Orissa

12,45,837

Out of the total enrolments under APY as on 25th August 2021, nearly 78% subscribers have opted for Rs 1,000 pension plan while around 14% for Rs 5,000 pension plan. Further, around 44% are female subscribers and also around 44% subscribers getting enrolled are very young and belong to the age-group of 18-25 years.

In the recent past, PFRDA has undertaken new initiatives like addition of new features in the APY mobile App and its availability on Umang platform, updation of APY FAQs, issuance of APY Subscriber Information Brochure and APY Citizen Charter in 13 regional languages for expanding the outreach of the APY Scheme and for the benefit of existing and potential APY subscribers as well as APY service providers.

Encouraged by the increasing number of enrolments under the Scheme since its inception, PFRDA will continue its endeavour to popularize the scheme through organization of various APY Campaigns at national and State level, coordination with State Level Bankers’ Committee (SLBCs) and National Rural Livelihood Mission ( NRLM), advertisements through print, socail & electronic media etc. in the FY 2021-22 to take total enrolments under APY to greater heights and contribute towards making India a pensioned society.

About APY

The APY allows any Citizen of India between the age group of 18-40 years to join through the bank or post office branches where one has the savings bank account. Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs. 1,000 to Rs. 5,000 per month, depending upon his contribution, from the age of 60 years. The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and the spouse, the accumulated pension wealth as accumulated till age 60 of the subscriber is returned to the nominee.

The scheme is distributed through 266 registered APY Service-Providers consisting of various categories of banks and Department of Posts. As this scheme is only available to applicants with a savings bank account, therefore, PFRDA regularly advises all banks to promote the scheme for its outreach to their existing and prospective customers.

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