Retirement Security for India’s Unorganised Sector: A Comparative Study of Atal Pension Yojana and Alternative Pension Schemes
DOI:
https://doi.org/10.58574/jaa.2026.v5.i1.11Keywords:
Atal Pension Yojana, Contributory Pension Scheme, Retirement Security, Social Security, Unorganised SectorAbstract
A pension is a type of long-term social security system. It is particularly significant and pertinent for the unorganised sector and offers a steady, regular post-retirement income. Because it lowers poverty in old age, it offers financial stability. If official job benefits are not available, it also seeks to protect against income insecurity in later life. This study assesses how well the Atal Pension Yojana (APY), which offers a government-guaranteed minimum monthly pension after retirement, provides low-income workers in India's unorganised sector with retirement and financial security.
The purpose of the study is to compare different options to see how well APY satisfies the demands of the low-income population. The comparative analytical framework is used to comprehend and assess the pension plans using important components like coverage, affordability, adequate benefits, awareness, government support, administrative efficiency, sustainability, financial inclusion, and socioeconomic aspects. The findings show that APY has grown substantially and gained widespread penetration. This makes it the most well-liked pension plan among workers in the unorganised sector.
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