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Economic Survey 2023: Women make up 44% of voluntary APY subscribers

Jan 31, 2023 / 05:58 PM IST

Economic Survey 2023: As of August 2022, 44.8 percent of APY subscribers were between 18 and 25 years of age, as compared to 29.3 percent in March 2016.

The age profile of the subscribers in the APY scheme suggests that the enrollment of younger workers is growing. (Representative image)

Nearly 44 percent of the Atal Pension Yojana subscribers (APY) are now women. However, the share of women subscribers under the National Pension System’s (NPS) all-citizen-model, is much lower at 24 percent, with male workers (76 percent) dominating the space, according to the Economic Survey 2022-23 released on January 31.

This points to a better gender balance under APY, the Economic Survey noted, citing Pension Funds Regulatory and Development Authority of India (PFRDA) data. In 2016-17, women subscribers made up 38 percent of the APY base, indicating growth at a faster clip.

APY, a defined pension scheme, was introduced in 2015 for providing financial security beyond working years to unorganised sector workers. NPS’ all-citizen model allows individuals to contribute voluntarily towards building a retirement corpus and creating a pension income stream during their retirement years.

Economic Survey 2023: Key Highlights