India expands rural pension coverage via ‘Pension Sakhis’

The Department of Rural Development (DoRD) and the Pension Fund Regulatory and Development Authority (PFRDA) have signed a memorandum of understanding (MoU) to expand pension coverage in rural India. The initiative will utilize a dedicated cadre known as ‘Pension Sakhis’ to strengthen social security for rural households.

The program will leverage the community institutional network of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission. This includes Banking Correspondent (BC) Sakhis and other trained community resource persons who will raise awareness, facilitate enrollment, and provide support to Self Help Group (SHG) members, rural women, and other underserved groups.

Rohit Kansal, Secretary of the Ministry of Rural Development, noted that social security is essential for helping SHG households manage vulnerabilities and build resilience. Mamta Shankar of the PFRDA emphasized the importance of retirement planning, such as the National Pension System (NPS), to address rising life expectancy and changing demographic trends.