Standard Operating Procedure of Atal Pension Yojana (APY) through Identified Post Offices
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.
1 Comments
PLEASE SEND/POST APY & PMY INCENTIVE CLAIM FORM/FORMAT FOR GDS,BPM,PA,SPM WHO WORKING AT SO/BO LEVEL FOR CLAIM INCENTIVE.
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