Atal Pension Yojana

• Atal Pension Yojna is a Social Security Scheme introduced by Govt. of India, aimed at providing a steady stream of income after the age of 60 to all citizens of India. It is based on National Pension Scheme (NPS) frame work. Permanent Retirement Account Number (PRAN) will be provided to the subscriber immediately by the branch.
• Under APY the subscribers have a choice to get Fixed Monthly Pension amount from Rs. 1000, Rs.2000, Rs. 3000, Rs. 4000 and Rs. 5000 by paying monthly subscription as per the table given below:

• Central Government will co-contribute 50% of the total yearly contribution or Rs. 1000 per annum, whichever is lower, for the period of 5 Years in the account of subscribers who join the scheme up to 31st December, 2015 and who are not a member of any Statutory Social Scheme and not an income tax payer.
• Subscribers joining APY scheme at an early stage of age would be required to pay lesser monthly subscription amount as compared to the subscriber joining at a later age as illustrated in the above table.
• Our NPS-Lite Swavalamban subscribers, if eligible i.e. between the age of 18 to 40, may shift to APY by filling the APY Registration form for Existing Swavalamban Subscribers.
• Nomination facility is available.

• Customer can visit branches to deposit contribution in NPS Lite scheme.
• NPS Lite subscribers can contribute for NPS Lite PRAN online using the below link -https://enps.nsdl.com/eNPS/InitialExistingUser.html
• Select 'NPS Swavalamban' in the field NPS Subscriber Type and complete the online contribution process.
  1. Modification/ withdrawal request - Duly filled NPS Lite modification form to be forwarded to NPS Nodal Cell through Base Branch.
  2. Migration to APY - NPS Lite subscribers in the age group of 18-40 years can migrate their PRANs to APY. Customer to approach branch for the same.
  3. Grievance redressal - Customer can approach their base branch.

The Government of India vide Gazette Notification dated 10th August, 2022 has made the amendment in the eligibility criteria for the resident Indian, which states that “Provided that from 1st October, 2022, any citizen who is or has been an income-tax payer, shall not be eligible to join APY”