Parliament Question: Accounts closed under APY

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES ***** LOK SABHA UNSTARRED QUESTION NO. 1246 ANSWERED ON MONDAY, 28 JULY, 2025/ SRAVANA 6, 1947 (SAKA) ACCOUNTS CLOSED UNDER APY

1246. Shri Gyaneshwar Patil Shri Bhumare Sandipanrao Asaram Dr. Shivaji Bandappa Kalge

Will the Minister of Finance be pleased to state:

(a) the number of accounts under the Atal Pension Yojana (APY) across the country, particularly in Maharashtra and the percentage of such accounts closed since the launch of the said Scheme State-wise;

(b) whether such accounts have been opened without the explicit consent of the subscribers and if so, the steps being taken to address the said issue;

(c) the reasons for discontinuation of the accounts by the subscribers other than the financial constraints or dissatisfaction with returns, particularly in Maharashtra along with the details thereof; and

(d) whether the Government proposes to review and modify the design of the Scheme to increase participation and address the concerns related to assured returns and inflation? ANSWER MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

(a) The gross enrolments under the Atal Pension Yojana (APY) as on 30.06.2025 across the country are 7,89,19,845 and in Maharashtra are 75,51,130. The State-wise details of gross enrolments under APY and the percentage of such accounts closed since inception, is at Annexure A.

(b) Under APY, a subscriber submits request on a single-page subscriber registration form where he/she is required to mention savings bank account details, personal details, and pension details (pension amount and frequency of contribution) and authorize the bank to debit the bank account till the age of 60 for making payment under APY as applicable based on age and the pension amount selected.

(c) While closing the APY account, the subscribers are required to provide the reasons for closing the account. Inability to pay contributions and requirement of funds urgently are major reasons cited by subscribers for account closure.

The returns since inception as on 18.07.2025 are more than 9%.

(d) In order to enhance the participation under APY, the Central Government had co-contributed 50% of the total contribution or Rs. 1000 per annum, whichever was lower, to each eligible subscriber, for a period of 5 years, i.e., from Financial Year 2015-16 to 2019-20, who had joined Scheme before

31.03.2016, and who were not members of any statutory social security scheme and who were not income tax payers.Further, the Scheme was appraised and it was decided that for better targeting of the scheme, from

01.10.2022 an income tax payer is not eligible to join APY.

APY is a defined benefit scheme and provides fixed minimum pension guarantee for the subscribers.

Various activities are undertaken for increasing coverage under APY, which inter-alia include: i. Periodic advertisements are published in print, electronic, and social media for awareness creation. ii. Physical APY outreach program and townhall meetings are organised at various locations pan India.

iii. Virtual capacity building programs for Banking Correspondents (BCs) and field staff of Banks, Self Help Group (SHG) members, bank-sakhis of State Rural Livelihoods Missions (SRLMs) are being organised to propagate APY to eligible beneficiaries.

iv. Engagement with various Ministries of Government of India, National Centre for Financial Education (NCFE), National Bank for Agriculture and Rural Development (NABARD), National Rural Livelihood Mission (NRLM), and SRLM to spread awareness and coverage of APY.

**********Annexure A Lok Sabha Unstarred Question No. 1246 regarding “Accounts closed under APY” to be answered on 28.07.2025 State-wise gross enrolments under APY and the percentage of such accounts closed since inception Closed Enrolled as on Closed to Enrolled Name of State / UT Accounts as

30.06.2025 Ratio (%) on 30.06.2025 Andaman & Nicobar Islands 13,933 1,398 10.03% Andhra Pradesh 39,49,135 6,98,558 17.69% Arunachal Pradesh 36,701 3,659 9.97% Assam 18,91,745 2,07,314 10.96% Bihar 69,75,567 10,26,924 14.72% Chandigarh 77,100 13,768 17.86% Chhattisgarh 14,96,622 1,78,936 11.96% Delhi 9,38,915 1,68,221 17.92% Goa 1,09,221 13,923 12.75% Gujarat 27,95,794 4,16,947 14.91% Haryana 17,47,733 3,56,428 20.39% Himachal Pradesh 5,78,505 91,932 15.89% Jammu and Kashmir 2,51,705 38,379 15.25% Jharkhand 23,60,738 3,42,895 14.52% Karnataka 44,63,614 5,96,066 13.35% Kerala 15,10,171 2,12,632 14.08% Ladakh 6,817 726 10.65% Lakshadweep 3,224 330 10.24% Madhya Pradesh 46,46,920 8,41,008 18.10% Maharashtra 75,51,130 10,56,015 13.98% Manipur 67,830 6,607 9.74% Meghalaya 76,881 8,123 10.57% Mizoram 30,107 3,324 11.04% Nagaland 39,979 5,672 14.19% Odisha 29,51,999 3,62,507 12.28% Puducherry 1,03,708 13,624 13.14% Punjab 22,91,996 4,84,056 21.12% Rajasthan 41,79,142 6,46,051 15.46% Sikkim 43,826 5,286 12.06% Tamil Nadu 51,31,275 7,27,973 14.19% Telangana 24,83,192 3,28,047 13.21% Dadra & Nagar Haveli & Daman & Diu 41,663 4,457 10.70% Tripura 2,92,787 25,891 8.84% Uttar Pradesh 1,28,54,402 26,41,258 20.55% Uttarakhand 8,47,665 1,65,895 19.57% West Bengal 60,78,103 10,19,470 16.77% Grand Total 7,89,19,845 1,27,14,300 16.11%

Source: PFRDA