The Atal Pension Yojana (APY), initiated by the Government of India on May 9, 2015, has evolved into a vital component of the nation's social security framework, achieving 8.96 crore gross enrolments by March 31, 2026. This defined-benefit pension scheme aims to provide financial security to India's informal workforce, which includes low-income individuals and marginalized groups. The APY has experienced remarkable growth, with 1.35 crore new subscribers added in FY26 alone, marking the highest annual increase since its inception. The scheme's inclusive design has particularly benefitted women, who constituted 55.10% of new enrolments in FY26, reflecting a significant step towards gender parity in financial security.

The assets under management have surged from approximately ₹20,000 crore in FY22 to ₹51,416 crore by FY26, indicating strong subscriber trust and engagement. The APY also emphasizes financial literacy and awareness, conducting numerous outreach programs to educate potential subscribers about the importance of pensions. As India faces a demographic shift with the 60+ population projected to reach nearly 20% by 2050, the APY stands as a model for addressing old-age security challenges, not just in India but also for other nations with large informal sectors.