New Delhi: 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 awareness and retirement-security services among rural households through a network of community-level ‘Pension Sakhis’.
The MoU was signed on September 14 by Amit Shukla, Joint Secretary, DoRD, and Sumeet Kaur Kapoor, Executive Director, PFRDA, in the presence of Rohit Kansal, Secretary, Department of Rural Development.
DAY-NRLM Network to Support Pension Outreach
The initiative will leverage the community network created under the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM), including Banking Correspondent (BC) Sakhis and other trained community resource persons.
Read Also: PFRDA Launches AI-Powered Pension Sahayak to Revolutionise Pension Grievance Redressal
Pension Sakhis will provide community-level support on:
- Pension and retirement planning
- Financial literacy
- Pension enrolment
- Understanding pension-related services
- Post-enrolment assistance
The outreach will particularly cover Self-Help Group (SHG) members, rural women, Lakhpati Didis and other participants connected with the rural livelihoods network.
Digital Systems to Track Outreach and Enrolment
The partnership will also use digital tools to monitor pension outreach and enrolment.
The participating institutions will use digital dashboards and mobile- and web-based systems, including the Department of Rural Development’s LoKoS system, to track progress and identify gaps in coverage.
The digital infrastructure is intended to support monitoring as well as community-level service delivery.
‘Social Security’ Linked to Long-Term Financial Security
Speaking at the signing ceremony, Rural Development Secretary Rohit Kansal said social security should form an important part of the broader effort to support sustainable prosperity among rural households.
He said, “social security is not only about protection against vulnerability; it is also about giving households the confidence and resilience to pursue sustained economic advancement.”
Kansal also stressed the need for pension awareness and financial literacy initiatives to be based on honesty, transparency and trust, with rural citizens receiving clear information to make informed decisions about their long-term financial security.
PFRDA, DAY-NRLM Join Hands on Pension Coverage
The collaboration combines PFRDA’s expertise in pension regulation and retirement-security systems with the grassroots reach of DAY-NRLM’s women-led Self-Help Group network and trained community cadres.
The initiative will promote awareness and enrolment in pension products, including the National Pension System (NPS), among rural households that remain outside formal retirement and social-security arrangements.
The partnership also expands the potential role of community cadres beyond banking and livelihood support to include awareness and assistance related to long-term savings and retirement planning.
