APY Subscribers! PFRDA takes this step to improve services of Atal Pension Yojana

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Updated: Sep 07, 2020 2:06 PM

In a recent circular issued by the PFRDA, the APY-PoPs have been directed to display the APY Citizen Charter prominently at their branches for the benefit of the subscribers.

 atal pension yojana, apy account opening form, registration form, closure form, withdrawal, grievance, apy service provider, toll-free number APYAPY subscribers can expect better dissemination of information regarding the opening of APY account, updating subscriber’s details.

The subscribers of Atal Pension Yojana (APY) can now expect to get better services while operating the APY account. In a recent circular issued by the PFRDA, the APY-PoPs have been directed to display the APY Citizen Charter prominently at their branches for the benefit of the subscribers. The circular states that it has been observed that a number of queries and grievance are being raised by APY subscribers due to deficiency in APY related services at branches of APY-PoPs.

Going forward, any existing and potential APY subscribers can expect better dissemination of information regarding the opening of APY account, updating subscriber’s details, upgrade or downgrade of pension amount, withdrawal from APY, getting forms etc. at the branches of PoPs such as banks.

I. Opening of new APY account

  • Explaining the benefits and features of APY to all potential APY Subscribers between age of 18 and 40 years.
  • Providing APY Subscriber Registration Form to the potential APY subscribers for enrolment
  • Providing Acknowledgement receipt and Subscriber Information Brochure to the subscribers while opening of APY account.
  • Providing E-PRAN CARD after opening of APY account.
  • Explaining the benefits and features of APY to the eligible family members of existing subscribers (spouse and children) and facilitating them to open APY accounts.
  • Informing subscribers to maintain sufficient balance equivalent to the contribution amount as per the selected frequency of auto-debit, in their savings bank account.

II. Services under accumulation phase

 

  • Providing Statement of Accounts upon request by the APY subscriber.
  • Providing APY Subscriber Modification Form for changes related to:
  • (i) Change/Correction in Nominee /Spouse details,
    (ii) Change / Correction in Frequency,
    (iii) Change/Correction in Date of Birth,
    (iv) Upgradation/ Down-gradation of Pension Amount,
    (v) Change of Bank/APY Service Provider
  • Updating current details of the Bank account in the APY account.
  • Providing assistance in calculating overdue lump-sum amount, in case of Upgradation of Pension amount and estimated amount to be credited in SB accounts, in case of Down-gradation.
  • Informing APY subscribers on importance of persistency of the APY account and assistance in calculating overdue amount and late fee, in case of irregular APY accounts.
  • Ensuring resolution of the grievance of the subscriber, within the timelines as prescribed in the regulations.

III. Exit under APY

  • Providing form for Voluntary Exit Form under APY.
  • Providing Account Closure Form (Death Case)/ Spouse to Continue under APY, in cases of death of existing APY subscribers.
  • Informing subscriber to the APY subscribers to close SB account once APY funds out of exit are credited to the account.

If one want to contact APY Help Desk, it can be done at the Toll-Free number of PFRDA 1800 110 069 to raise and register any complaint.

 

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