According to data compiled by the Pension Fund Regulatory and Authority (PFRDA), a record 12.2 million new accounts were opened in the Atal Pension Yojana (APY) during 2023–24, bringing the total enrollment under the government’s social security scheme to 66.2 million.
Based on APY data, public-sector banks accounted for approximately 70.44 percent of all scheme enrolments, followed by regional rural banks (19.80 percent), private sector banks (6.18 percent), payment banks (0.37%), small finance banks (0.62%), and cooperative banks (2.39%).
By the end of FY 23–24, the government pension scheme had grown its gross enrolments by 24%, totaling 64.4 million members. Youth and women are adopting APY at a rapid rate, according to PFRDA Chairman Deepak Mohanty.
Five2% of all enrolments in FY24 were made up of women, and 70% of all subscribers have been in the 18–30 age range since the program’s founding.
