THIRUVANANTHAPURAM: Enrolments in Atal Pension Yojana (APY), the old age income security programme launched by the Union government, is low in Kerala. The total enrolments in the state is 13.57 lakh while most of the southern states are far ahead of Kerala.
According to the State Level Bankers Committee, until December 2023, banks in Kerala achieved only 29% of their target for APY enrolments while the national average was 63%.
The APY is a flagship social security initiative of the Union government with a focus on workers in the unorganised sector.
According to the data tabled in the Lok Sabha, until FY 2022-23, cumulative APY subscriptions in Kerala stood at 3.94 lakh whereas Karnataka had 12.68 lakh and Tamil Nadu 18.71 lakh subscribers. While Kerala’s subscription base has increased to 13.57 lakh, the cumulative subscription in Karnataka rose to 39.46 lakh and in Tamil Nadu to 42.77 lakh.
The latest Periodic Labour Force Survey shows that APY has huge relevance in the Kerala context. According to the PLFS (July 2023 - June 2024), 60.8% of regular wage/salaried employees in the state are not eligible for any specified social security benefit.
Only 49.5% of employees in Karnataka and 50.8% in Tamil Nadu did not have any specified social security benefit.
Total APY accounts
Kerala: 13,57,263
Top three districts
T’Puram: 1,97,555
Ernakulam: 1,76,901
Thrissur: 1,33,037
Low performers
Wayanad: 32,172
Idukki: 34,375
Kasaragod: 54,173