Indian Economy News

DoRD and PFRDA Sign MoU, 'Pension Sakhis' to Expand Reach in Rural India

The Department of Rural Development (DoRD) and the Pension Fund Regulatory and Development Authority (PFRDA) have signed a Memorandum of Understanding to expand pension coverage and strengthen social security in rural India, facilitating pension awareness, enrolment and support through a dedicated cadre of 'Pension Sakhis'. Leveraging the community institutional network of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), including Banking Correspondent Sakhis and other trained community resource persons, the partnership will provide doorstep awareness, enrolment assistance and pension-related support to Self Help Group members, rural women, Lakhpati Didis and other underserved groups, particularly in remote rural areas. Digital dashboards, mobile and web-based solutions, and unique identifier-based tracking through Central Recordkeeping Agencies will support monitoring of outreach and enrolment.

Mr. Rohit Kansal, Secretary, Ministry of Rural Development, said social security is an integral pillar of the Mission's vision of inclusive growth, helping SHG households manage vulnerabilities and build resilience. Ms. Mamta Shankar, Whole Time Member (Economics), PFRDA, highlighted the need for retirement planning amid rising life expectancy, expressing hope that the collaboration would promote adoption of pension products, including the National Pension System, among rural households with limited access to formal retirement and social security mechanisms. Both DoRD and PFRDA expressed confidence that the partnership would boost pension awareness and literacy, deepen financial inclusion and strengthen social security for rural communities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.