New Delhi, Sep 15 (IANS) In a bid to expand pension coverage and strengthen social security among rural households through a dedicated cadre of ‘Pension Sakhis’, the Department of Rural Development (DoRD) and the Pension Fund Regulatory and Development Authority (PFRDA) have signed a memorandum of understanding (MoU), an official statement said on Tuesday.
According to the Ministry of Rural Development, this will leverage the community institutional network of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission, including Banking Correspondent (BC) Sakhis and other trained community resource persons, to raise awareness, facilitate enrolment, and provide pension-related support to Self Help Group (SHG) members, rural women, Lakhpati Didis, and other underserved groups.
Rohit Kansal, Secretary of Ministry of Rural Development, mentioned that SHG members have distinct savings patterns, livelihood cycles, and risk profiles.
He highlighted that social security is an integral pillar of the Mission’s vision of inclusive growth, helping SHG households manage vulnerabilities, build resilience, and move towards greater and sustained prosperity.
Kansal stressed that pension awareness and financial literacy must be built on honesty, transparency, and trust, and expressed confidence that trained BC Sakhis and other financially literate community cadres could serve as ‘Pension Sakhis’ to expand pension coverage across rural India.
Moreover, Mamta Shankar, Whole Time Member (Economics), PFRDA, highlighted the need for retirement planning amid rising life expectancy and changing demographic trends.
The collaboration would promote the adoption of pension products, including the National Pension System (NPS), among rural households with limited access to formal retirement and social security mechanisms, she said.
The partnership would strengthen pension literacy, deepen financial inclusion, and enhance social protection for rural communities.
The collaboration is expected to contribute significantly to building a more inclusive and resilient social security ecosystem through greater financial security for rural citizens across the country.
“These cadres will provide doorstep awareness, enrolment, and support in remote areas. Digital dashboards, mobile- and web-based solutions, and unique identifier-based tracking through Central record-keeping Agencies will support monitoring outreach, enrolment, and performance,” said the statement.
—IANS
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