More than 45 lakh subscribers of the government’s social security scheme – Atal Pension Yojana – can now view online their statement of transaction. The finance ministry today launched the facility with an aim to “digitally empower the APY (Atal Pension Yojana) subscribers” and improve the quality of service.
Giving details, the ministry said that by providing the APY-PRAN (Permanent Retirement Account Number) details and savings bank account number, the APY subscriber can view his or her account statement.
The subscriber who does not have APY-PRAN readily available can also avail of these facilities by providing one’s date of birth and savings account information. “This online tool enables the subscriber to view his complete details of APY account like transaction, pension amount and commencement date, nominee and associated bank name,” the ministry said in a statement.
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While the feature is a self-servicing tool, the service providers can also access it on behalf of their customers to improve quality of customer service, it added. The APY scheme, launched in May 2015, is being implemented through 235 service providers consisting of banks.
There are more than 45 lakh subscribers and nearly 10,000-15,000 people are enrolling in the scheme every day, the ministry said.
The retirement scheme is available for citizens of 18-40 years. The subscribers would receive a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month from the age of 60 years, depending on their contributions.
The same amount of pension is paid to the spouse in the event of the subscriber’s demise. After the demise of both (subscriber and spouse), the nominee will be paid the pension corpus.