Launch of Atal Pension Yojana (APY) through CBS HOs from 1st Dec. 2015

From : Director (CBS)

Sent: 26 November 2015 18:00

To: CPMG Andhra Pradesh Circle; CPMG Assam Circle; CPMG Bihar Circle; CPMG Chattisgarh Circle; CPMG Delhi Circle; CPMG Gujrat Circle; CPMG Haryana Circle; CPMG Himachal Pradesh Circle; CPMG Jammu & Kashmir Circle; CPMG Jharkhand Circle; CPMG Karnataka Circle; CPMG Kerala Circle; CPMG Madhya Pradesh Circle; CPMG Maharashtra Circle; CPMG North East Circle; CPMG Orissa Circle; CPMG Punjab Circle; CPMG Rajasthan Circle; CPMG Tamilnadu Circle; CPMG Uttar Pradesh Circle; CPMG Uttarakhand Circle; CPMG West Bengal Circle

Cc: DDG (Financial Services); ADG (FS I); Kawaljit Singh; Member (Banking & HRD); ADG (IMTS&MO)

Subject: Launch of Atal Pension Yojana (APY) through CBS HOs from 1st  Dec. 2015  

Respected Sir/Madam,

I am directed to inform that under Pradhan Mantri Jan suraksha Yojana, Atal Pension Yojana (APY) the Pension Scheme where minimum monthly pension is guaranteed  by the Government of India for the section of society who joins between the age of 18-40 years and Government is also contributing 50% of the contribution or Rs.1000/- whichever is less for 5 Years for those who will joint the scheme by 31st December 2015 subject to the condition that the beneficiary should not be Income Tax Payee and not beneficiary of any other Social Welfare Scheme of the Government. 

2. Department has developed  APY Module in CBS Application which will be launched from 1st December 2015 and will be available in all CBS Post Offices. But to start with, Department has decided to register CBS HOs only with PFRDA as NLCC. Therefore, only those HOs would be able to register APY subscribers which have NLCC number. List of such HOs is attached with NLCC number. A chart containing contribution amount based on the entry age criteria and the option of payment of contribution i.e Monthly, Quarterly or Half Yearly is also enclosed. This is very important to note that only Savings Account  Holder of any CBS  Head Post Office can enroll for APY and there will not be any cash deposit or deposit through any other mode except auto debit from savings account. For sensitizing the staff about features of APY, FPRDA has already conducted workshops in all the circles and that concerned staff may be aware with the features of the scheme. 

3. It is requested that counter as well as Supervisory staff of CBS HOs should be asked to be ready for the launch  from 1st December 2015  and Standard Operating Procedure (SOP) along with Subscription Forms of the scheme will be circulated in a day or two through a separate mail. 

 With regards,

Sachin Kishore

Director (CBS)

Sansad Marg,

Dak Bhavan