Voluntary exit under Atal Pension Yojana (APY) – PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY CIRCULAR CIR No.: PFRDA/2019/10/APY/1 Date: April 8, 2019 To, POPs under Atal Pension Yojana (APY) Subject:   Voluntary exit under Atal Pension Yojana (APY) The functionality of online voluntary exit was released in the month of August 2017 by Central Record Keeping Agency (CRA) – NSDL e-Governance Infrastructure Limited to smoothen the process of Voluntary Exit under Atal Pension Yojana (APY). However, it has been observed that some POPs and branches of POPs are sending physical exit forms to PFRDA instead of processing through their APY module. This causes delay in execution of voluntary exit, which in turn increases grievances from the subscribers. In view of the same, POPs are advised – (i) to process voluntary exit request only through their APY module (ii) to sensitize all their branches which are performing Atal Pension Yojana related activities to proc...

Government will soon start the selection process for the new PFRDA chairman The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April. “The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fund Regulatory and Development Authority (PFRDA),” Contractor’s term will be completed on April 30, 2019. PFRDA was re-constituted into a statutory body after notification of PFRDA Act in 2014. Contactor is the first Chairman to head the regulatory body. He had joined   PFRDA   on October 7, 2014. As per the Act, the chairman will have a tenure of 5 years or till age of 65 years, whichever is earlier. Contractor was previously held the post of SBI managing director before being appointed as the PFRDA Chairman. The pension fund regulator has reached a subscriber base of 2.65 crore in its flagship Na...

Ministry of Labour & Employment Minimum Pension 17 DEC 2018 As regards Employees Pension Scheme (EPS), 1995, a minimum pension of Rs. 1,000/- per month has been prescribed with effect from 01.09.2014 for the pensioners under Employees Pension Scheme (EPS), 1995. In the case of Atal Pension Yojana (APY), depending upon the pension plan selected, each subscriber under APY shall receive a guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until his/her death. If the actual returns during the accumulation phase are higher than the assumed returns for minimum guaranteed pension, such excess will be passed on to the subscriber. As such, the minimum pension depending upon the pension plan selected by the subscriber is fixed under the APY. Under National Pension System (NPS), there is no ceiling fixed for minimum pension. Further, a High-Empowered Monitoring Committ...

Ministry of Finance EASY TO EXPLAIN BENEFITS DRIVE ATAL PENSION YOJANA (APY) BACKED BY GOVERNMENT OF INDIA’S GUARANTEE;THE SUBSCRIBER BASE UNDER APY HAS CROSSED 1.24 CRORE MARK; MORE THAN 27 LACS NEW SUBSCRIBERS HAVE JOINED THE SCHEME DURING THE CURRENT FINANCIAL YEAR 2018-19 02 NOV 2018 The Atal Pension Yojana (APY) is the guaranteed Pension Scheme of Government of India administered by PFRDA. The Subscriber base under APY has crossed 1.24 crore mark. The Govt of India guarantees the pension benefits. The Scheme is very easy to understand and it is very transparent. More than 27 lacs new subscribers have joined the Scheme during the current financial year, i.e. 2018-19. States like Uttar Pradesh, Bihar, Andhra Pradesh, Maharashtra and Karnataka are the top contributors in APY enrollment. The Scheme allows any Indian Citizen between the age group of 18-40 years to join through the bank or post office branches where one has the savings bank account. The table below shows State ...

PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme; The Number of Current APY subscribers crosses 86 Lacs mark Ministry of Finance PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme; The Number of Current APY subscribers crosses 86 Lacs mark. 15 FEB 2018 With a view to bring the economically disadvantaged section of the society in the unorganized sector within the pension fold or old age income security coverage, Government had launched the Atal Pension Yojana (APY)in May 2015. Pension Fund Regulatory and Development Authority (PFRDA) in association with Department of Financial Services, Ministry of Finance conducts APY Outreach Programme on a regular basis. Accordingly, PFRDA has observed a Campaign namely, Makers of Excellence for the Chairmen and MDs of all the Public Sector Banks, Private Sector Banks, Regional Rural Banks, Cooperative Banks (Rural & Urban) & Department of Post for regis...