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The Pension Fund Regulatory and Development Authority (PFRDA) reported that the Atal Pension Yojana (APY) achieved its highest annual growth in FY2025-26, enrolling more than 13.5 million new subscribers. This surge pushed the total APY enrolments past 91 million as of May 18, 2026, with assets under management exceeding ₹54,000 crore.
Banks Fuel Expansion
The scheme's growth was significantly driven by enhanced outreach and strong engagement from various banking channels. Leading public sector banks such as State Bank of India, Union Bank of India, and UCO Bank were at the forefront, joined by Indian Bank and Bank of Maharashtra. In the private sector, IDBI Bank also showed notable performance. Regional rural banks reported high achievement levels, with Jharkhand Rajya Gramin Bank and Tripura Gramin Bank leading the way.
Youth and Women Join APY
Officials noted a substantial increase in enrolments among individuals aged 18 to 25, indicating a growing focus on long-term retirement planning among younger demographics. Women accounted for 55.14% of total enrolments during FY26, reflecting steady participation from semi-urban and rural populations.
Wider Reach Through Diverse Channels
Small finance banks, including AU Small Finance Bank and Ujjivan Small Finance Bank, contributed to the overall expansion. Cooperative banks like Shri Mahila Sewa Sahakari Bank and Andhra Pradesh State Co-operative Bank also reported significant progress. State Level Bankers' Committees (SLBCs) in Jharkhand, Bihar, and West Bengal met their highest targets, with Assam and Madhya Pradesh also performing strongly.
The PFRDA attributes the scheme's ongoing success to expanded distribution networks, simplified onboarding processes, and increased awareness about retirement security. Future growth will involve continued collaboration with banks, SLBCs, and the Department of Posts.