1. General
Any
individual or existing Swavalamban Yojana subscriber who has completed
18 Years of age and is below 40 Years of Age on the day of applying can
open APY account in any authorized CBS Post Office. The contribution for
APY will be debited every month (if opted for monthly) or the first
month of a quarter (if opted for Qutrly.) or first month of the Half
Year (if opted for Half Yearly) from the subscriber Savings Account
based on the Standing Instruction provided by the subscriber in APY
Subscriber Registration Form. Under the APY, the subscribers would
receive the fixed pension from Rs. 1000 to Rs. 5000 per month (Rs. 1000,
2000, 3000, 4000 and 5000), at the age of 60 years, depending on their
contributions. The contributions would vary as per the age of the
subscriber on the day of joining APY and the pension amount opted by the
subscriber. In addition, Government co-contribution (50% of the total
contribution or Rs. 1,000/- per annum, whichever is lower) will be made
available for 5 years, i.e., from the Financial year 2015-16 to 2019-20
for the subscribers who join the scheme up to 31st December, 2015 and
who are not covered by any Statutory Social Security Schemes and are not
Income Tax payers.
1.1 At Post Office Level, following activities are to be undertaken:
- Acceptance of Subscriber Registration Application and issuance of acknowledgement.
- Capturing of minimum registration details in APY Module.
- Handle requests for the subscribers such as Subscriber Details Modification, Issuance of Transaction Statement to the subscriber (based on request received)
- Resolve the grievances/queries of the subscribers, if any
1.2 At Nodal Office Level, following activities are to be undertaken:
- Download of PRAN Library from CRA system and updating in APY Module
- Preparation &Upload of Subscriber Registration details in the CRA system
- Receiving Response File from CRA system for Subscriber Registration
- Upload Subscriber Contribution File (SCF) in the CRA system
- Remit the contribution amount to the Trustee Bank as per the SCF uploaded in the CRA system
(For APY, Sansad Marg HO of Delhi Circle will be the Nodal Office)
2. Activities to be carried out at authorized CBS Post Offices.
2.1
CBS Post Offices are being registered as NLCC for accepting
subscription to APY. In first phase, all CBS HOs are being registered
and list of CBS HOs with their NLCC number has already been sent to
circles over mail from Director CBS. This will be extended to CBS SOs
and then BOs under CBS Hos and SOs in a phased manner.
Therefore, any Savings Account standing at any CBS SO or HO will be
eligible for subscribing in APY but registration can be accepted only at
authorized CBS HOs having NLCC number. For the time being, Accounts
standing at BOs attached to CBS HOs and SOs should not be accepted for
APY. SOP for handling Accounts standing at BOs attached to CBS SOs and
HOs will be circulated separately.
2.2 Any
Postal Official (including GDS attached to any CBS HO or SO) can pursue
either a depositor having Savings Account in any EDBO/SO/HO migrated to
CBS Platform or any Indian Citizen who is ready to open a Savings
Account in any such post office which is migrated to CBS, to fill Atal
Pension Yojana (APY) Subscriber Registration Form to get Guaranteed
Pension after attaining age of 60 Year by paying Monthly/quarterly/half
Yearly contribution as given in the attached table. Any existing
Swavalamban Yojana Subscriber can also apply for APY registration on the
prescribed form for Swalamban Yojana Subscriber. GDS who have already
enrolled for Swalamban Yojana and are in the age bracket of 18-40 years
should be encouraged to join APY as there is no guaranteed Pension in
Swavalamban Yojana but in APY, Pension if guaranteed. Already deposited
amount in Swavalamban Yojana will be automatically transferred to APY
PRAN Account.
2.3
It has to be ensured that the Savings Account holder or Indian Citizen
who wants to open new savings account for this purpose has already
completed 18 Years of Age but not yet completed 40 years of Age (as per
Date of Birth mentioned in any of the KYC Documents showing date of
birth). The Account Holder has the option to select Pension Amount of
his/her choice between Rs.1000/-, 2000/-, 3000/-, 4000/- and 5000/- per
month. Contribution amount (monthly/Qtrly/Half Yearly) can be seen from
the attached table.
2.4 First
Contribution amount (as per table) will be deducted from the Savings
Account Balance on the day of successful registration. For, subsequent
contribution, the Savings Account Holder should be pursued to maintain
balance (minimum balance+ Contribution amount as per table) in his/her
Savings Account on any working day of the month (if contribution is to
be deducted monthly) or any working day of the first month of a quarter
i.e January or April or July or October ( if contribution is to be
deducted quarterly) or any working day of the first month of a Half Year
i.e January or July (if contribution is to be deducted Half Yearly). If
sufficient balance will not be available in Savings Account in the
required month, penalty fee will (@Rs.1/- per Rs.100/- contribution per
month) will be added to the amount of contribution be charged and
deducted from the Savings Account.
2.5. Postal
Official (including GDS) who collects APY Subscriber Registration Form
has to ensure that the depositor is above 18 Years and below 40 Years
of age and has filled all fields with * mark. The official will fill
his/her own details in the Form at “ To be filled by the official who
collects form” part of the form and sign to become eligible for
incentive. Incentive will be payable only on the successful registration
of the subscriber.
2.6
When any POSB Account Holder or new customer attends post office either
directly or through any messenger, Counter PA has to very carefully
examine the Subscriber Registration Form and see that all the mandatory
fields are filled by the depositor/customer. If Form is received through
a Postal Official who has already filled details for becoming eligible
for incentive, the Counter PA or BPM has to countersign the Form with
name, designation, office of posting and HO from where pay is drawn to
become eligible for incentive of their part.
Download APY Statement Process by NIL
Download Application Forms
Download APY Statement Process by NIL
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