Atal Pension Yojana (APY) subscribers can now prepare to get improved benefits while the APY account is active. In a latest memorandum released by the PFRDA, to the beneficial of subscribers, the APY-PoPs were guided to present the APY Citizen Charter extensively at their divisions. The circular claims that it has been noted that APY subscribers are raising a range of requests and grievances due to deficiencies in APY-related services at APY-PoP branches. In the meantime, any existing and potential APY subscribers can anticipate improved distribution of information about the opening of the APY account, updating the specifics of the subscriber, increasing or downgrading the pension amount, withdrawal from APY, obtaining forms etc. in PoP subsidiaries like banks.
Services for issuance of new APY Account
- Stating APY's features and benefits to all prospective APY subscriber base between the age of 18 to 40 years of old.
- Offering APY registration form to potential APY subscribers for registration
- Delivering the subscribers with Acknowledgment receipt and Subscription Information Brochure while initiating new APY account.
- Delivering E-PRAN CARD after APY account is set up.
- Illustrating APY 's advantages and functionality to the eligible family members of current subscribers (spouse and children) and supporting for opening a new account to them.
- Notifying subscribers in their savings bank account to hold adequate balance equal to the contribution amount according to the selected frequency of auto-debit.
Services under accumulation cycle
- Generating account statement to the APY subscribers.
- Generating Modification Form to the subscribers related to: Change/Correction in Nominee /Spouse details, Frequency, Date of Birth or Bank/APY Service Provider and also Upgradation/ Down-gradation of Pension Amount.
- Modifying the bank account details in the existing APY account
- Offering support in determining unpaid lump-sum payment, in case of updating of the amount of the pension and estimated amount to be transferred to SB accounts, in case of downgrading.
- Notifying APY subscribers about the significance of APY account persistence and guide in the determination of outstanding amount and late fee, in case of irregular APY accounts.
- Ensure settlement of the subscriber 's claim within the time limits set out in the guidelines.
Services for closing APY
- Delivering Voluntary Exit Form under APY.
- Offering Account Closure Form (Death Case)/Spouse to persist under APY in case of death of an existing APY subscriber.
- Instruct APY subscribers to close SB account once APY funds are credited to the account out of exit.
If one wishes to contact APY call center, any grievance can be raised and registered at the Toll-Free number of PFRDA 1800 110 069.