NewsStocksCabinet Approves Continuation of Atal Pension Yojana Till FY31, Extends Funding SupportCabinet Approves Continuation of Atal Pension Yojana Till FY31, Extends Funding Support
The Union Cabinet approved continuation of Atal Pension Yojana till FY31 with extended funding support for promotional activities and gap funding. The scheme, launched in 2015, provides guaranteed monthly pensions of ₹1,000-5,000 to unorganised sector workers from age 60. With 8.66 crore current subscribers, the extension strengthens old-age income security and supports the Viksit Bharat @2047 vision through sustainable social security mechanisms.
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The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the Atal Pension Yojana (APY) until financial year 2030-31 on Wednesday (January 21). The decision includes extended government funding support for promotional activities, developmental initiatives, and gap funding to ensure the scheme's long-term viability.
Government Support and Funding Extension
The Cabinet's approval encompasses comprehensive support for the pension scheme's operational requirements. The government will continue funding awareness initiatives, outreach programs, and capacity-building efforts specifically aimed at expanding coverage among unorganised sector workers. Additionally, gap funding will be maintained to meet viability requirements and ensure the scheme's sustainability over the extended period.
Scheme Benefits and Coverage
The Atal Pension Yojana provides structured pension benefits for subscribers in the unorganised sector:
| Parameter: | Details |
|---|---|
| Launch Date: | May 9, 2015 |
| Target Beneficiaries: | Unorganised sector workers |
| Pension Start Age: | 60 years |
| Monthly Pension Range: | ₹1,000 to ₹5,000 |
| Current Subscribers: | 8.66 crore (as of January 19, 2026) |
The guaranteed minimum pension amount depends on the subscriber's contribution level, providing assured income support during old age. This structure offers financial security to millions of workers who lack formal employment benefits.
Strategic Alignment and Long-term Vision
The continuation of APY aligns with the government's broader vision of building a pensioned society in India. The scheme contributes significantly to the Viksit Bharat @2047 goals through sustainable social security mechanisms. The extension is expected to strengthen old-age income security for millions of low-income workers while furthering financial inclusion across the country.
Institutional Strengthening and Sustainability
The government emphasized that continued support remains necessary for multiple operational aspects. Key areas include maintaining public awareness about the scheme, strengthening institutional capacity for implementation, and bridging viability gaps to ensure long-term sustainability. These measures will help APY maintain its position as one of the key pillars of India's inclusive social security framework, serving the financial security needs of the unorganised workforce.
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