The Atal Pension Yojana (APY), India’s flagship social security initiative for unorganised sector workers, has achieved a major milestone by crossing 8.34 crore enrolments as of 31 October 2025. The data, presented in the Lok Sabha by Union Finance Minister Nirmala Sitharaman, also shows that women account for 48 per cent of total subscribers, reflecting the widening gender reach of the scheme.
Launched in 2015 with the objective of creating a universal pension framework for low-income and informal workers, APY offers subscribers between the ages of 18 and 40 a guaranteed pension after turning 60. The pension payouts will begin in 2035 for the earliest joiners.
While the steady expansion of the scheme owes much to central awareness campaigns and digital onboarding through banks and post offices, one of the strongest and most consistent drivers of APY’s penetration has been India’s vast cooperative network. Cooperative banks, district cooperative credit societies and women-led cooperatives have emerged as crucial intermediaries in bringing pension literacy to rural and semi-urban regions.
Their existing relationships with farmers, artisans, self-employed workers and small traders place them at a unique vantage point to influence pension participation among populations most often excluded from mainstream financial planning.
Across several states, cooperative banks have even outperformed commercial banks in achieving APY targets. Institutions like Shri Mahila SEWA Sahakari Bank in Gujarat, South Canara DCC Bank in Karnataka and Sabarkantha DCC Bank have been recognised for exceptional enrolment numbers, often crossing 300 to 400 per cent of assigned goals.
The cooperative model, built on trust, familiarity and community ownership, has proved particularly effective in persuading rural households to commit to long-term savings instruments such as APY. In many districts, members of self-help groups (SHGs), village-level cooperative workers and bank sakhis have served as the first point of contact for pension awareness, bridging the information gap more effectively than remote advertising or formal banking channels.
NABARD’s long-standing work in strengthening rural financial institutions has further amplified this momentum. Through the SHG–Bank Linkage Programme and various capacity-building interventions, NABARD has created a ready ecosystem of financially literate rural women who now act as ambassadors for central schemes, including APY.
This base of organised savings groups provides fertile ground for pension enrolment, especially as SHG members encourage each other to secure old-age income protection. Digital upgrades supported by NABARD, such as mobile banking extensions and biometric onboarding, have equipped cooperative banks to enrol subscribers quickly even in remote pockets where large banks have minimal presence.
This synergy between cooperatives, SHGs, banking correspondents and local livelihood missions has been central to the rising female share in APY. Women’s cooperatives, credit societies and SHGs often enjoy a high level of interpersonal trust within communities, making them ideal for explaining scheme benefits and dispelling doubts about long-term deposits. Their influence is reflected in the 4.04 crore women now enrolled in APY.
As APY moves toward its long-term goal of providing pension security to every low-income Indian, the cooperative sector’s role stands out as indispensable. It is the cooperative model, people-owned, locally rooted, community-driven, that has enabled the scheme to penetrate deeply into India’s rural and informal workforce. If enrolment continues at the present pace, powered by these grassroots institutions, India’s vision of a pensioned society may become achievable far sooner than expected.