Atal Pension Yojana scheme is available for all the citizens of India who fall in the age group of 18 to 40 years.
Under the APY, the subscribers can receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month from the age of 60 years. The pension income will depend on the contributions, which also depends on the age of the subscriber at the time of joining the APY.
The same amount of pension is paid to the spouse in case of the subscriber’s death. If both die, i.e. subscriber & spouse, then the nominee would be paid with the pension corpus. However, there is an option for a spouse to continue to contribute for the balance period of the premature death of the subscriber before 60 years, so as to avail pension by the spouse.
There are tax benefits at entry, accumulation, and pension payment phases. If the actual returns on the pension contributions during the accumulation phase are higher than the assumed returns for the minimum guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced scheme benefits.
The APY scheme is digitally empowered where the APY subscribers can get the improved quality of services. The facility of online viewing of the statement of the transaction (e-SOT) and the e-PRAN card is also available on the site.
To avail value added services, the APY subscribers can visit the website: www.npscra.nsdl.co .in or www. npstrust .org.in under the Atal Pension Yojana Section.
By providing the APY/PRAN Account details and savings bank account number details, the APY subscriber can see their APY account statement.
The subscriber who is not having their APY /PRAN number readily available can also avail these facilities by providing their date of birth and savings bank account number details.
The online tool enables the subscribers to see their complete details of the APY account, like transaction details, pension amount, pension commencement date, nominee name, associated bank name etc.
APY subscribers can print their e-PRAN card and keep it safely for their future reference, if required. In the case of making any changes in the demographic details in the APY account, the subscribers can again re-print their e-PRAN which will reflect the updated subscriber records.