Central government has launched Atal Pension Yojana (previously Swavalamban Yojana) as a government backed pension scheme for unorganized sector. Under this scheme, all the subscribers will get minimum monthly pension of Rs. 1,000 to Rs. 5,000 per month after retirement. People can see APY Subscribers Contribution Chart, Statement and use APY Calculator to review their pension amount. Interested candidates can fill Atal Pension Yojana Online Form at enps.nsdl.com
Central govt. will contribute 50% of the subscriber’s contribution or Rs. 1000 per annum (whichever is lower) for 5 years. Govt. contribution is restricted only for those people who are non-income tax payers and are also not covered under Statutory Social Security Scheme. All the bank account holders can apply for this APY Scheme and get guaranteed minimum pension from govt. of India.
Latest Update – Now APY subscribers contribution amount can be changed anytime during a year w.e.f 1 July 2020. Earlier the subscriber was allowed to make change only in the month of April. Check details in the section later. From 1 July 2020, banks has restarted auto-debiting contributions from the accounts of Atal Pension Yojana (APY) subscribers.
Atal Pension Yojana Apply Online Form
Below is the complete procedure to apply online and fill atal pension yojana form online:-
- Firstly visit the official website enps.nsdl.com
- On the homepage, click “Registration” button or directly click Online Subscriber Registration
- Here enter your Aadhaar Number and generate OTP on your registered mobile number. After entering OTP, click “Continue” button.
- Afterwards, Atal Pension Yojana Online Application Form will appear as shown below:-
- Now provide personal details, family details and generate acknowledgement number. After acknowledgement Id is generated, enter bank / branch details & account number for bank verification.
- Next fill the pension amount, contribution frequency, nominee and upload the supporting documents and make payment to complete the atal pension yojana online registration process.
If the registration process is successful, then bank will debit your account for 1st subscription and will generate Permanent Retirement Account Number (PRAN). Finally candidates can e-sign the Atal Pension Yojana Online form for verification. People can also see – Apply / Subscribe Online for Atal Pension Yojana (eNPS)
Eligibility Criteria for Atal Pension Yojana
The candidates must fulfill the following eligibility criteria to avail Atal Pension Yojana Benefits:-
- All the subscribers must be an Indian Citizen
- Applicants must lie between 18 to 40 years of age.
- The minimum contribution period for APY is 20 years after which govt. of India will provide guaranteed minimum pension.
- Aadhaar and Mobile number are essentially recommended documents for KYC of beneficiary, spouse and nominee. Moreover for address proof candidates can submit ration card or bank passbook.
All the candidates can opt for monthly pension between Rs. 1000 to Rs. 5000 and ensure regular monthly contribution. In addition to this, people can also opt to increase or decrease their pension amount anytime in a year (earlier in the month of April). Moreover, GoI will link this scheme with PM Jan Dhan Yojana Scheme to automatically deduct contribution from bank account.
Atal Pension Yojana Chart / Contribution Calculator
People can see the subscriber contribution chart to know Minimum Guaranteed Pension amount per month as per age of their entry. For monthly pension amount of Rs. 1000 (contribution – Rs. 1.7 lakh), Rs. 2000 (contribution – Rs. 3.4 lakh), Rs. 3000 (contribution – Rs. 5.1 lakh), Rs. 4000 (contribution – Rs. 6.8 lakh) and for Rs. 5000 (contribution – Rs. 8.5 lakh). All the subscribers can see APY Contribution Chart / Atal Pension Yojana Calculator using the link given below:-
People can enter APY Scheme at any age between 18 to 40 years and safeguard their future through filling Atal Pension Yojana Online Form.
Atal Pension Yojana Statement
All the APY subscribers can see the APY Scheme transaction statement with or without PRAN Number. Subscribers having PRAN number can enter their Bank Account number while subscribers without PRAN have to enter their Name and Date of Birth to view APY statement using the link given below:-
APY Transaction Statement View (e-PRAN)
People can also read – Check / Download Atal Pension Yojana Statement of Transaction Online
How To Make Atal Pension Yojana Registration at Banks
Here is the complete procedure to make registration for Atal Pension Yojana at banks:-
- All the national banks provide the pension yojana, so, you can visit the bank with which you have your account and register yourself for APY.
- The registration forms are available online as mentioned above, as well as, at the bank branches. You can download the form and submit it at the bank or you can fill and submit it at the bank itself.
- Provide a valid mobile number and attach the photocopy of your Aadhar card.
Once your application is approved, you will receive a confirmation SMS on your registered mobile number.
Penalty on Delayed Contributions by Banks
Usually a penalty is collected by banks for delayed contributions under Atal Pension Yojana. As per the official APY website, these are the penal charges for delayed contributions:-
A) Rs. 1 per month for contribution up to Rs 100 per month.
B) Rs. 2 per month for contribution between Rs 101 and Rs 500.
C) Rs. 5 per month for contribution between Rs 501 and Rs 1,000.
D) Rs. 10 per month for contribution exceeding Rs 1,001.
All the citizens who have joined National Pension Scheme (NPS) are eligible for this APY Scheme. This social security scheme was launched in June 2015. Pension Fund Regulatory and Development Authority (PFRDA) administers APY through NPS architecture.
The latest PFRDA communication also stated that penal interest will not be charged if the subscriber’s pension scheme account is regularised before September 30, 2020. “Penal interest will not be charged if your non-deducted APY Contributions from April-2020 to August-2020 are regularised along with regular APY contributions before 30th September, 2020.”
APY Subscribers Contribution Amount Can be Changed Anytime During Year
PFRDA has asked banks to process requests for change in Atal Pension Yojana (APY) subscribers contribution amount anytime during a year. This move aims at making APY Scheme more attractive and the new arrangement has been made available from 1 July 2020. Earlier, subscriber was allowed to make change in contribution amount in the month of April.
The new arrangement will enable subscribers to increase / decrease their pension plans as per their changed income levels and capacity to pay APY contributions. It is very important to continue contribution in the APY Scheme till the age of 60 years. PFRDA has asked “all banks to process upgrade / downgrade of pension amount requests of APY subscribers throughout the year w.e.f 1 July 2020“.
However it is important to note that a subscriber can change pension plan only once in a financial year. There are around 2.28 crore subscribers enrolled under the APY scheme.
Restart of Auto Debit Contributions from APY Account
As you are aware, vide its circular (Ref. No: PFRDA/2020/8/P&D-APY/1) dated 11 April 2020, Pension Fund Regulatory and Development Authority (PFRDA) had instructed Banks to stop auto-debit of APY contribution till 30th June 2020. Accordingly, auto debit for APY contributions has resumed from 1st July 2020.
Atal Pension Yojana Review
— For more info. on APY Scheme, see scheme details in pdf format using the link given below:-
Atal Pension Yojana Scheme Details
— Moreover candidates can now avail tax benefits in APY Scheme – APY Tax Benefits
— For any further query, aadhaar seeding issues, grievance redressal and other related issues, please visit the official website npscra.nsdl.co.in