Atal Pension Yojana – Government Guaranteed Pension Scheme for the Unorganised Sector

by Shiv Kukreja on March 13, 2015

in Retirement Planning

This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

88% of India’s total labour force of 47.29 crore belongs to the unorganised sector, in which the workers do not have any formal provision of getting a regular pension payment on retirement. Moreover, due to increasing labour wages and better medical facilities, these people also face a risk of increasing longevity. So, this work force would require some kind of assured income guarantee to sustain itself in the coming years.

Launching Atal Pension Yojana (APY) from June 1, 2015

To encourage workers in the unorganised sector to voluntarily save for their retirement, the government of India will be launching a new scheme, called Atal Pension Yojana (APY), from 1st June, 2015. Finance Minister Arun Jaitley announced this scheme in his budget speech on February 28th.

This scheme will replace the UPA government’s Swavalamban Yojana – NPS Lite and will be administered by the Pension Fund Regulatory and Development Authority (PFRDA). The benefits of this scheme in terms of fixed pension will be guaranteed by the government and the government will also make contribution to these accounts on behalf of its subscribers.

Under this scheme, a subscriber would receive a minimum fixed pension of Rs. 1,000 per month and in multiples of Rs. 1,000 per month thereafter, up to a maximum of Rs. 5,000 per month, depending on the subscriber’s contribution, which itself would vary on the age of joining this scheme.

The minimum age of joining this scheme is 18 years and maximum age is 40 years. Pension payment will start at the age of 60 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

The Central Government would also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not income tax payers. The existing subscribers of Swavalamban Scheme would be automatically migrated to APY, unless they opt out.

Who is eligible for Atal Pension Yojana?

Any Citizen of India, aged between 18 years and 40 years, who has his/her savings bank account opened and also possesses a mobile number, would be eligible to subscribe to this scheme.

Government Funding – Indian Government would provide (i) fixed pension guarantee for the subscribers; (ii) would co-contribute 50% of the subscriber contribution or Rs. 1,000 per annum, whichever is lower, to eligible subscribers; and (iii) would also reimburse the promotional and development activities including incentive to the contribution collection agencies to encourage people to join the APY.

Who is eligible for Government Co-Contribution in Atal Pension Yojana?

Subscribers of this scheme, who are not covered under any other statutory social security scheme and are not income tax payers, would be eligible for the government’s co-contribution of up to Rs. 1,000 per annum.

Social Security Schemes which are not eligible for Government Co-Contribution

  • Employees’ Provident Fund (EPF) & Miscellaneous Provision Act, 1952
  • The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948
  • Assam Tea PlantationProvident Fund and Miscellaneous Provision, 1955
  • Seamens’ Provident Fund Act, 1966
  • Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act, 1961
  • Any other statutory social security scheme

Minimum/Maximum Pension Payable – This scheme will pay a minimum pension of Rs. 1,000 per month and a maximum pension of Rs. 5,000 per month, depending on the subscriber’s own contribution per month.

Minimum/Maximum Period of Contribution – As the minimum age of joining APY is 18 years and maximum age is 40 years, minimum period of contribution by the subscriber under this scheme would be 20 years and maximum period of contribution would be 42 years.

Atal Pension Yojana – Contribution Period, Contribution Levels, Fixed Monthly Pension and Return of Corpus to the Nominees of Subscribers

Picture 3

Internal Rate of Return (IRR) – Thanks to the government funding of Rs. 1,000 per annum per subscriber account for 5 years, your account would generate an IRR of approximately 0.66% per month or 8% per annum. This pension amount per month is fixed and the government has made it clear that if the actual returns on the pension contributions are higher than the assumed returns, such excess return will be credited to the subscribers’ accounts, resulting in enhanced pension payment to the subscribers.

Minimum Contribution – A subscriber aged 18 years will have to contribute a minimum of Rs. 42 per month in order to get Rs. 1,000 pension per month starting 60 years of age. For a 40 years old subscriber, his/her minimum contribution would be Rs. 291 per month. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.

Maximum Contribution – A subscriber aged 40 years will have to contribute Rs. 1,454 per month in order to get Rs. 5,000 pension per month starting 60 years of age. For a 18 years old subscriber, his/her contribution for Rs. 5,000 monthly pension would be Rs. 210 per month.

Can I increase or decrease my monthly contribution for higher or lower pension amount?

The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, as per the available monthly pension amounts. However, the switching option shall be provided only once in a year during the month of April.

What will happen if sufficient amount is not maintained in the savings bank account for contribution on the due date?

Non-maintenance of required balance in the savings bank account for contribution on the specified date will be considered as default. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Re. 1 to Rs. 10 per month as shown below:

(i) Re. 1 per month for contribution upto Rs. 100 per month

(ii) Rs. 2 per month for contribution upto Rs. 101 to 500 per month

(iii) Rs. 5 per month for contribution between Rs. 501 to 1,000 per month

(iv) Rs. 10 per month for contribution beyond Rs. 1,001 per month.

Discontinuation of payments of contribution amount shall lead to following:

After 6 months account will be frozen.

After 12 months account will be deactivated.

After 24 months account will be closed.

Subscriber should ensure that the Bank account to be funded enough for auto debit of contribution amount. The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.

Post-Retirement Rate of Return – Considering a retirement corpus of Rs. 1.7 lakh and monthly pension of Rs. 1,000, this scheme is going to generate a return of 0.59% per month or 7.1% per annum for its subscribers. I think this return is also on a lower side.

Nomination Facility – This scheme will also provide the nomination facility to its subscribers. In case of the subscriber’s death after attaining 60 years of age, the whole corpus generating the pension income to the subscriber would be returned back to the nominee of the subscriber. In case of untimely death of the subscriber before 60 years of age, the balance would be returned back to the nominee of the subscriber.

Where to open APY Accounts – You need to approach points of presence (PoPs) and aggregators under existing Swavalamban Scheme. These agencies would enrol you through architecture of National Pension System (NPS).

Points of Presence & Aggregators

Application Form – Here you have the links to the application form for subscribing to Atal Pension Yojana – Application Form in EnglishApplication Form in Hindi

I think a subscriber should opt for a minimum monthly contribution of around Rs. 167 or so, which would make it approximately Rs. 2,000 annual contribution. 50% of Rs. 2,000 i.e. Rs. 1,000 would be contributed by the government as well. So, the subscriber will get the maximum benefit of government funding.

As mentioned above, the scheme would start from June 1, 2015. So, interested people will have to wait till then to open an account. If you have any other query regarding this scheme, please share it here.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Application Form in English

Application Form in Hindi

{ 107 comments… read them below or add one }

Jyoti Prasad Pal July 19, 2015 at 3:12 PM

I had registered for atal pension last month and amount was deducted from savings account on 8th June. However, this month – in July no amount got deducted till date What should I do? Any contact? Please help.

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Shiv Kukreja July 25, 2015 at 6:11 AM

Hi Jyoti,
You should contact the bank branch where you have opened this account.

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nitesh patel July 23, 2015 at 11:47 AM

my instalment of this July month rs 1454 has not been debited from my saving account yet so no one have any answer shiv my birth date is 5 – 5 – 1975 so is there any problem from my age but then how bank have deducted my first instalment and they have given me a copy of pran number so its very much confusing please help

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Shiv Kukreja July 25, 2015 at 6:12 AM

Hi Nitesh,
You should get in touch with the bank where you have opened this account.

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rameshwar singh July 24, 2015 at 6:45 AM

rameshwar pratap singh ka bima hua hai ya nahi.

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Dashrath Kumar Jha July 24, 2015 at 11:24 AM

I have a PPF account in SBI. I am eligiable for open Atal Pension Yojana account. If not, then what will be happened if I opened APY account.

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Shiv Kukreja July 25, 2015 at 6:13 AM

Hi Dashrath,
If you are 40 years or less, you are eligible for this scheme.

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Ashish July 24, 2015 at 11:58 AM

Hello Shiv, I have few queries… Hope you would be able to answer them.

How is the age for enrollment calculated? Is it as per nearest birthday or only number of years completed?
What is the lump sum amount for various pension amounts? Does it depend upon corpus accumulated or fixed by govt.?

If the policy holder expires before 60, what lump sum amount will be paid to nominee for 5000/- pension scheme?

In case the policy holder expires before 60,
do the spouse need to pay premium for remaining term?
Will the spouse start getting pension (immediately or after 60 yrs) or will get lump sum amount?
If spouse gets pension, after spouse expiry, will the nominee get lump sum?

If no premium deposited for 24 months, the account gets closed. What will happen to corpus accumulated?

Is it possible to withdraw Lump sum amount / accumulated corpus amount any time during the policy (before 60 yrs age) / (after start of pension by self or by spouse due to death of policy holder)?

If the spouse and nominee are same, how will it work for providing pension to spouse and lump sum to nominee?

I know the queries are many, but I believe answers to these will help many get a clarity, and decide on subscribing for this scheme.

Thanks in advance for your time and efforts in answering these queries.

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GOUTAM BAKSHI September 24, 2015 at 12:09 AM

Please let me know the answer

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Shantanu July 24, 2015 at 5:55 PM

I have NPS regular/all citizen account.
Can i open APY account ?
I checked with SBI bank according to them, i can not open APY account.
Can anyone help me..

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Shiv Kukreja July 25, 2015 at 6:18 AM

Hi Shantanu,
You should check with some other bank also to confirm your eligibility.

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Sanjay Das July 25, 2015 at 11:01 AM

In Ataul Pension Yojna, Bank give me any certificate or document? Bank inform me only passbook update is enough for this and in my Aadhaar card address is not correct but in my bank passbook address is ok, which address will be kept in Atal pension yojna database, my bank passbook address nor aadhar card address?

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Shiv Kukreja July 29, 2015 at 7:00 PM

Hi Sanjay,
In APY, you’ll get a statement for your account transactions. Passbook update is also fine. You can provide your bank statement as your address proof.

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Karan wadhawan November 5, 2015 at 11:45 AM

Do we get any certificate for Atal Pension Yojna or passbook update is enough? What is the use of PRAN number?

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Mukesh kasera July 25, 2015 at 1:57 PM

What is differences in pension or corpus amount who get govt.Contribution and who not get it

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Shiv Kukreja July 29, 2015 at 7:03 PM

Hi Mukesh,
Pension is the monthly payment you’ll get on retirement. Corpus is the amount which gets accumulated due to your monthly deposits and what your nominee will get in your absence. If you are not a tax payer and you are not covered under any other social security scheme, then you’ll get the government contribution.

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Jyoti Prasad Pal July 25, 2015 at 4:28 PM

I’ve contacted bank branch where I had opened APY account to know the reason for not deducting any amount in July. They are saying they don’t have clarity to whom to contact. Please help so that I can contact.

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Shiv Kukreja July 29, 2015 at 7:04 PM

Sorry Mr. Pal, we can’t help you in such matters. You need to contact the PFRDA.

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VENUGOPALA July 25, 2015 at 7:25 PM

Hi,
My self Venugopala, pls suggest below my requests.
What is monthly maximum amount pay for pension scheme & what is amount of benefit after 60 years.

I had other bank savings account example ICICI bank, can it works or new account i use to open.

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Shiv Kukreja July 29, 2015 at 7:06 PM

Hi Venugopala,
Rs. 5,000 per month is the maximum amount you’ll get on retirement. You need not open a new account. It can work with your exisitng bank account as well.

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CHIRANJIB SAMANTA July 26, 2015 at 6:04 PM

DEAR SIR,
AT PRESENT AGE IS 39 YEARS 3 MONTHS.
WHAT WILL THE PREMIUM FOR THE AMOUNT OF PENSION OF RS 5000/- IN ATAL PENSION YOJONA.

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Shiv Kukreja July 29, 2015 at 7:07 PM

Hi Chiranjib,
It would be Rs. 1,318 for 39 years old subscriber.

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nishith Ghosh July 28, 2015 at 8:53 AM

It is one of the best yojana.

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Shiv Kukreja July 29, 2015 at 7:07 PM

Thanks Nishith for sharing your views.

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Praveen July 30, 2015 at 5:18 PM

I subscribed for atal pension scheme . Do I get certificate of APS registration and and website to check the details of my atal pension scheme account .

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Shiv Kukreja August 4, 2015 at 5:35 PM

Hi Praveen,
You’ll get physical statement for your account transactions. Online facilities are not available as yet.

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Irissappin July 31, 2015 at 7:23 AM

Sir, as you earlier said that my wife whose DOB : 17/04/1975 is eligible to enrol APY but the SBI bank officials informed that your age is overaged.
Sir, Please inform the status of age regarding.
Thanks.

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Shiv Kukreja August 4, 2015 at 5:37 PM

Hi Irissappin,
As per the info we have, your wife is eligible for the same. Still you should get it checked with the aggregators.

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Prasanth July 31, 2015 at 5:55 PM

I joined it my share is 1087 as I am 37.but after 23 yrs 5000’s value is only today’s 560.can I leave it .am I eligible to get my investment

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Shiv Kukreja August 4, 2015 at 5:38 PM

Hi Prasanth,
You need to check it with the bank whether you can withdraw the money or not.

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tarlika August 1, 2015 at 11:40 AM

Hi Shiv,
My APY monthly installments are debiting regularly.But I do not receive PRAN card yet.Bankers are saying that they are not having any information regarding PRAN card.when will I get it?and from where can I get It?From Bank or is it delivered to my address?

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Shiv Kukreja August 4, 2015 at 5:40 PM

Hi Tarlika,
Even we do not have any info regarding the same. You will get the PRAN number for sure, but we are not sure about PRAN card.

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sandeep pote August 4, 2015 at 11:10 AM

I am interst your pension plan pls advice I am 37 years old

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Shiv Kukreja August 4, 2015 at 5:41 PM

Hi Sandeep,
Please visit any of your nearest eligible bank branch to get more details about this scheme.

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Anu illur August 5, 2015 at 8:50 AM

Sir, my DOB 21-11-1977 , please suggest me about atal pension yojana for 1000 and for 4000 . Is it monthly or yearly instalment?

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Aswini August 5, 2015 at 1:37 PM

Hi sir,
Assam Govt. Service holder are eligible or not the APY.

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nitesh August 6, 2015 at 2:40 AM

what’s your call on power mech projects ipo should we subscribe

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Shiv Kukreja August 6, 2015 at 2:28 PM

I’ve not analysed it yet Nitesh.

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rajnish kumar August 7, 2015 at 8:37 PM

yaar ek mahina ho gya #
APY ka form bhare, na to a/c se pese kate na hi bank wale kuch information dete h.

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phalguni August 12, 2015 at 7:16 AM

I am a housewife.I have opted for apy.but if in future say after 1yr I will join a job ,then can I eligible to get pension after 60 years.

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Shiv Kukreja August 12, 2015 at 5:34 PM

Hi Phalguni,
Once you join a job, you’ll stop getting the government contribution.

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ashis ku. August 14, 2015 at 11:17 AM

If some one default in payment instalment after 12month if he get return the deposited amount.

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Shiv Kukreja August 20, 2015 at 4:09 PM

Hi Ashis,
Some key changes have been made to this scheme today to allow withdrawals.

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Saraswathy D August 17, 2015 at 11:10 AM

hai, my husband dob is 07/06/1975.is he eligible to apply Atal Pension Yojana scheme.

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Ankit August 17, 2015 at 2:24 PM

Yes he is eligible for this

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AMALENDU DAWN August 19, 2015 at 9:27 PM

My age is 39 Years 27 Days, My monthly premium is Rs 1318/. My total contribution will be Rs 1318*252 months = Rs 3,32,136/-.

On the other hand The age of my cousin is 39 Years 11 Months and he also eligible of monthly premium is Rs 1318/ and his total contribution will be Rs 1318*241 months= Rs 3,17,638/-

Now my question is that whether the pension will start both myself and my cousin in same date, month and year ?

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Shiv Kukreja August 20, 2015 at 4:12 PM

Both of you will start getting pension as you turn 60. So, your cousin will start getting pension earlier than you.

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tapash August 22, 2015 at 6:35 PM

what happen if i want to close the pention account.

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Shiv Kukreja August 23, 2015 at 12:20 AM

Hi Tapash,
Government is making some changes to this scheme to allow premature withdrawal & closure. You’ll have to wait for the new rules to get announced.

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megha choudhary August 23, 2015 at 9:59 PM

I want to take policy for my parents, bt my parents age above 40 then suggest me any policy for her..

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poli das August 24, 2015 at 7:43 PM

Sir..meri ek query hai ki. ..meri age hai 26 or meri 5000 ka pension plan ka policy hai 409 jab meri age barega till 40 ehi 409 policy amt meri ac se katega? Aur age ke abusar bar jaye ga?

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HETALEN August 26, 2015 at 10:38 AM

MY SELF HETALBEN PADHIYAR AND MY APY A/C IN SBI AND SBI ALLOTED PRAN A/C NO. I BUT I DO NOT SEE ACCOUNT STATMENT
SO PLZ INFOMATION TO CORRECT WEB SIDE TO LOG IN AND I SAW MY A/C DETAIL.

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Karthik August 27, 2015 at 4:09 PM

Hi,,,

My age is 30 and my wife is 25

We have applied “Atal Pension Yojana”(5000 per month) for both me & Wife..amount has been deducting for both like below

376/- ruppes for my wife , I need to pay for 35 years

577/- for me,I need to pay for 30 years

i have a below questions, could u please clarify

1) I am thinking that ..unnecessarly i have taken policy for my wife because i already have APY

2) Is It good have a APY for both me & Wife, For one person in famaily will have a pension is sufficient right?

3) Instead of paying amount 4512 yearly upto 35 years for my wife, i could have taken some other insurance policy for 15 years .

Please suggest me,

whether it is good to invest money in APY for both me & wife?

else

Can i cancel APY for my wife and i will apply NPS for me ..Is it Good?

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Asha August 29, 2015 at 8:10 AM

I want to be a business associate of APY what has to be done and whom and how to be contacted the right place to give this plan to grass root levels.

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akhilesh August 31, 2015 at 11:02 PM

in case the policy holder expires before 60,
do the spouse need to pay premium for remaining term?
Will the spouse start getting pension (immediately or after 60 yrs) or will get lump sum amount?
If spouse gets pension, after spouse expiry, will the nominee get lump sum?

If no premium deposited for 24 months, the account gets closed. What will happen to corpus accumulated?

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Kalipada Kumbhakar September 1, 2015 at 11:49 PM

I am tax prayer & EPF provident fund scheme holder WBSEDCL Service man. Can you join APY Scheme ?

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P.R.Srivastava September 6, 2015 at 10:49 PM

Sir i am working in a private company.sinnce last 11 years i have worked in different private companies i am also tax payer, also have pf account in epfo, my age is 55 years in my company retirement age is 55years when i will get penssion and how much i will get per month penssion.

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Nikita September 10, 2015 at 12:57 PM

Great post Mr. Shiv!
Could you tell me who are the annuity providers for APY?

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Lilly September 19, 2015 at 8:27 PM

Sir I have opened APY account in SBI and the manager does not have any idea abt the passbook or transaction receipts. So kindly let me know what is the proof for the APY account.where to get the transaction slips or passbook?pls help me

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Mukti kanta parhi September 23, 2015 at 2:04 PM

Dear ,
i have opened APY acount in AXIS bank , the amount was debited last month , bank provide me the Acknowledgement copy , but i do not have receive any Document/Bond from Govt of India , please suggest , can i receive any Document .

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shanker October 1, 2015 at 12:08 AM

if subcriber Was monthly 990/- paid to APY but subcriber was death occur within 5 yrs what happen

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shanker October 1, 2015 at 12:10 AM

if 1subcriber Was monthly 990/- paid to APY but subcriber was death occur within 5 yrs what happen

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Prakash October 7, 2015 at 5:14 AM

Dear sir,
Ple give me phone numbers or
ple give me pass book or
ple give me recipt or
Call centre no response
nps office address in andhraprasad
next office phone number
my nps account no?
if we want to see my account what i have to do.
when risk happen for whom i have to call
Your a/c details will be in near branches?
your language only english?
ple reply my doubts?

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k.prabhakar October 15, 2015 at 9:16 AM

Death of holder below 60 when spouse or nominy get amount?

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SONAL KUMAR October 17, 2015 at 3:58 PM

SIR, AM AN EXISTING CUSTOMER OF APY SCHEME, BUT NOW I WANT TO CLOSE THIS SCHEME, HOW SHOULD I PROCEED SIR.
AROUND 4 MONTHS I CONTRIBUTED IN APY.

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Mrs Sheetal Kale October 22, 2015 at 1:40 PM

Today I got the message that

‘Dear Subscriber,

We would like to bring to your kind attention that NPS Trust will start recovering fee/charge @ 0.01% of the AUM on daily accrual basis to meet its expenditure, with effect from 1st November, 2015 which has been approved by Pension Fund Regulatory and Development Authority.

Warm Regards,

Dy. General Manager
NPS Trust”

What does it means?

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Bilal October 23, 2015 at 7:12 PM

Sir,
I am a govt bank employee. Am I eligible for the scheme. Till date I m not a tax payer. What should be the benefits of the scheme for me.

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anju October 30, 2015 at 9:26 PM

vill post birakheri

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pankaj kumar November 3, 2015 at 10:11 PM

sir I am 3 month before aplly the jivan joti and atal pension plan.but I am today inquery my plan in SBI lalganj vashali .bank stap speek close this plan.but I am calling custamar care but no response why.

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Jaswinder Singh November 5, 2015 at 4:20 PM

Bank or PFRDA will give any proof or Document for this investment like LIC giving pocily document.

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Ricky Stephen Dcunha November 11, 2015 at 4:19 PM

I want to discontinue this scheme can anyone help me out…and do i reciev the amount back…what has been from 4 months..

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Shahbaz alam November 13, 2015 at 10:35 PM

Which things to be collected from bank regarding atal pension yojna

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RAJENDRA MESHRAM November 23, 2015 at 2:36 PM

kindly provide details of shut up apy yojna a/c , i am existing customer prn no. is 30312854173

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RAJENDRA MESHRAM November 23, 2015 at 2:38 PM

I want to disconnect scheme & do i receive the amount back

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Vishal Londhe November 27, 2015 at 8:02 PM

Hi Shiv,

I want to enroll APY for my elder sister who is a divorcee and have no spouse. She have one daughter. So in this case who will be the spouse because her daughter will be nominee. Also when will nominee receive the corpus amount.

Please clear the doubt.

Regards,
Vishal Londhe

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Atul Bondre November 29, 2015 at 12:05 PM

hi shiv sir,
I want to know the date to enroll and get benefit of government contribution in APY scheme. Is it is on or before December 2015 including December month ? OR is it only before December 2015 I.e. upto 30th November 2015.

and if subscriber dead before 60 year so will nominee get corpus and contributed amount till date..please clarify both query…

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bhawani singh ranawat December 6, 2015 at 11:34 AM

I like the sechem and I am an government employee want to take for my wife she is non income tax payee… Can I take the plain replay pl..

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Atul Bondre December 8, 2015 at 12:37 PM

Hi shiv sir..
Is this scheme is good for the point of view of investment for future. Please give your opinion about this scheme.

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rahul dubey December 19, 2015 at 5:19 PM

Hiii sir, apy ko Dec tak open karwane mai kya benefit hai.

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Avanish December 22, 2015 at 4:46 PM

I am also optin for this pension plan. Yes I am agree with the question raised about the inflation rate and amount paid at that time but I have counter question for those people is there any better option than this ? I think it’s good step in field of social security of citizen and I do believe government will come up with more such schemes so that a common people can get freedom from burden of extra expenses.

I have a doubt regarding this scheme please help me. Is there any option for investing more money for higher pension benefits ? I am confused because Govt. has mentioned it as Min amount paid monthly.

Thanks, Avanish

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Kailas Sawalkar December 25, 2015 at 5:33 PM

What is Expity date of Atal Pension plan

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Ahmed December 29, 2015 at 3:39 PM

Hi,
I want to enroll, but I am a tax payee. Can i enroll for this.

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Bhaskar Kumar Dey. December 31, 2015 at 6:43 PM

can i change my account.

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Bhaskar Kumar Dey. December 31, 2015 at 6:49 PM

I want to change my atal pension agvb account to sbi account , can it pissible.

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Kavitha Sivakumar January 3, 2016 at 4:03 PM

What is the procedure to withdraw the apy scheme. I didn’t like the scheme… Will my money get returned… need a response. .. u cannot play or cheat with public money…..

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Ketan January 5, 2016 at 6:37 PM

Hello Kavitha,
Has the scheme details modified recently? Can you please elaborate why you feel its cheating with public money as many here on the forum may have registered under APY.

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Kavitha Sivakumar January 6, 2016 at 11:18 PM

I wanted to discontinue from this scheme. Banker didn’t tell me any details. I wanted my money back.

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Hemalatha January 26, 2016 at 4:14 PM

Hi myself Ms.Hemalatha from Mumbai. I want to apply for this scheme, so just need more guidance and more clearity no the terms and conditions. Can i get the contact person name and number, so that i can clear my doubts…. Pls provide me the contact details asap.

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Rahul February 3, 2016 at 4:40 PM

My birth date is 06/08/1983 and I want to enroll for this pension scheme for 5000 pension how much do I need to pay every month? And if I wish to withdraw or stop the service in between will I get back whatever I paid till the time of stopping this service?

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shailendra yadav February 5, 2016 at 3:17 PM

Today I am applied apy…..

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shailendra yadav February 5, 2016 at 3:18 PM

Plz.all details apy .

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ravinder February 29, 2016 at 1:49 AM

my age 47 not aplicable for apy any scheme like apy

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Aditya March 18, 2016 at 2:34 PM

Dear Sir,

I HAVE OPENED APY ACCOUNT BY SBI BANK. BANK GAVE ME ACKNOWLEDGE SLIP WITH PRAN NUMBER. MY QUESTION IS THAT CAN I GET PRAN CARD OR NOT.

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Prakash Sinha March 18, 2016 at 4:29 PM

Hi Shiv,
I have open an account in Atal pention yogana in june 2015 .My APY monthly installments are debiting regularly.But I do not receive PRAN card yet.Bankers are saying that they are not having any information regarding PRAN . from where we get the information regarding this.

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Rajini B April 4, 2016 at 10:32 AM

How is the age for enrollment calculated? Is it as per nearest birthday or only number of years completed?
What is the lump sum amount for various pension amounts? Does it depend upon corpus accumulated or fixed by govt.?

If the policy holder expires before 60, what lump sum amount will be paid to nominee for 5000/- pension scheme?

In case the policy holder expires before 60,
do the spouse need to pay premium for remaining term?
Will the spouse start getting pension (immediately or after 60 yrs) or will get lump sum amount?
If spouse gets pension, after spouse expiry, will the nominee get lump sum?

If no premium deposited for 24 months, the account gets closed. What will happen to corpus accumulated?

Is it possible to withdraw Lump sum amount / accumulated corpus amount any time during the policy (before 60 yrs age) / (after start of pension by self or by spouse due to death of policy holder)?

If the spouse and nominee are same, how will it work for providing pension to spouse and lump sum to nominee?

I know the queries are many, but I believe answers to these will help many get a clarity, and decide on subscribing for this scheme.

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kailash ch behera May 25, 2016 at 8:46 AM

How to delink APY from the saving bank account.

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Shibani June 7, 2016 at 3:20 PM

I have opted for pension plan since nov 2015. Just want to know how this pension amount will be reimbursed. Do we have to contact our bank or any other source to get the pension after 60 years?

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shubhajit Dey August 20, 2016 at 11:39 AM

The members of any social security scheme who are income tax payers can also join APY and avail the benefit of minimum guaranteed monthly pension but will not receive any government contribution. Seen from (Annexure A) of Punjab Nation Bank.
If any body paid income tax 5/6 years back and later his income is not taxable can he do APY.

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sanjay jotshi August 24, 2016 at 10:07 AM

Kindly clear me about accumulated corpus & when will be govt contribution credited to APY accounts

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Thakur October 4, 2016 at 2:49 PM

Pl sir if death become in middle then in case of

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SANJAY MANI TRIPATHI January 25, 2017 at 5:29 PM

sir,
i have poen Atal Pension Yojana in december 2016 and jeewan jyoti bima .
by net banking . This is right or wrong. Please guide.

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rakesh kumar raman January 28, 2017 at 3:46 PM

how to modified the apy data

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Raksha Devi February 14, 2017 at 7:13 PM

Sir I am house wife and 42 years old. Can I deposit money under the scheme of Atal Pension Yojna. Please guide me and where I can deposit monthly payment for future pension.

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Prashant February 19, 2017 at 10:12 PM

Hi Sir,

My DOB is 1st Feb’9177. Am I eligible to avail Atal Pension Yojna.

Please advice.

Thanks,
Prashant

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Ashok Dhar February 22, 2017 at 2:46 AM

Sir,
I am a central government employee and already covers in pension. Still I can also open APY or not.

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ASHOK KUMAR AHELLEYA May 2, 2017 at 6:30 PM

Hi Sir,

I am an ex ACC (The Associated Cement Companies Ltd ) employee, retired in 2005 after about 31 years of service with the company at their various plant. During initial Family Pension inception days, there use to be option for joining the scheme. I had in-fact opted out (opted no ) to the scheme owing to salaries being very low and for joining the scheme one had to agree for further deduction from already low salaries which use to be in hundreds only.
Subsequently the scheme became compulsory for employees to join the family pension scheme. Under the circumstances that the scheme was made compulsory to all do I fall in the category of eligible (for Pension payment ) candidate.
Kindly find time to address to my query.
Regards,

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