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How To Track Contributions Made Towards Atal Pension Yojana?

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Atal Pension Yojana (APY) is a pension mechanism initiated in 2015 by the government. Even though it was introduced with an emphasis on citizens employed in the unorganized sector, any Indian resident with a bank or post office savings account between the ages of 18 and 40 can make contributions towards APY. In comparison to the National Pension System (NPS), where the pension amount is calculated by the cumulative corpus accrued at the age of 60, the pension benefit is specified in the APY, varying from Rs 1,000 to Rs 5,000 per month, based on the subscriber's contributions. Under section 80CCD(1) of the Income-tax Act, 1961, you can use the contributions rendered by you towards APY to seek tax benefits for which you will need to disclose the transaction statements as verification.

To check if they are credited to your APY account on schedule, you will also need to check your contributions as there is a liability in the event of delay or failure. Make sure that you have issued the Permanent Retirement Account Number, popularly called as PRAN, before you track for the contributions made by you. Although PRAN is the only you need to log into the app, you will have to specify your bank account number on the NSDL portal. There are two options to electronically validate your contributions: by accessing the NSDL website, or by installing the APY and NPS Lite applications from the app store of your mobile.

Via NSDL
 

Via NSDL

  • Visit https://www.npscra.nsdl.co.in/scheme-details.php and click on ‘APY e-PRAN/Transaction Statement View'
  • You will be redirected to a new page where you need to select from ‘With PRAN or Without PRAN'
  • You will be required to enter your PRAN and bank account number if you have selected the 'With PRAN' method. If you do not have a PRAN, you will be asked to enter the name of the subscriber, bank account number and date of birth.
  • Now select the ‘APY e-PRAN View or Statement of Transaction View' option and enter the CAPTCHA code correctly.
  • Click on ‘Submit'
  • APY e-PRAN will support you with your APY e-card specifics, along with details such as the launch date of the pension, the amount of pension you have specified, the APY service operator/provider and so on.
  • The transaction statement will allow you to validate the contributions you rendered on a monthly, quarterly or semi-annual basis. Details of the cumulative contributions rendered to the fund up to date and others, such as the name of the nominee, the amount of pension chosen, and so on. In a given financial year, you can even check for every successful transaction.
Via Mobile app

Via Mobile app

  • Download the ‘APY and NPS Lite' mobile app from the default app store of your mobile.
  • Enter your PRAN and tap on ‘Login'
  • An OTP will be sent to your registered mobile number, enter the OTP on the required space and tap on ‘Submit'
  • In which scheme either NPS or APY your money is contributed, the homepage will reveal to you about the specifics of the same. Using the app, you can also download the transaction statement. Select the alternative to access specifics of your account.
Via offline
 

Via offline

According to the NPS official site, to know the status of the contributions, an SMS is sent to the subscriber's registered mobile number. The portal also states that periodic statements will be issued to the holder of the APY account by the Central Recordkeeping Agency, but the time is not specified. To get these specifics, one can also visit his or her nearest bank branch.

APY Contribution Chart

APY Contribution Chart

The following table indicates the monthly, quarterly and half-yearly contribution amount, depending on the age of entry into the fund and the estimated monthly pension amount available after retirement. The calculation of this Atal Pension Yojana is representative and the exact amount you required to contribute may alter at a subsequent time. Your monthly, quarterly, and semi-annual contribution criteria for this pension scheme are summarized in the following table:

Entry age Total Contributions Years Monthly Contribution Amount
Monthly Pension of Rs 1000 Monthly Pension of Rs 2000 Monthly Pension of Rs 3000 Monthly Pension of Rs 4000 Monthly Pension of Rs 5000
18 42 42 84 126 168 210
19 41 46 92 138 183 228
29 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 26 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1087
38 22 240 480 720 957 1196
39 21 264 528 792 1054 1318
40 20 291 582 873 1164 1454
Entry age Total Contributions Years Quarterly Contribution Amount
Monthly Pension of Rs 1000 Monthly Pension of Rs 2000 Monthly Pension of Rs 3000 Monthly Pension of Rs 4000 Monthly Pension of Rs 5000
18 42 125 250 376 501 626
19 41 137 274 411 545 679
29 40 149 298 447 590 739
21 39 161 322 483 641 802
22 38 176 349 527 697 870
23 37 191 378 572 757 948
24 36 209 414 620 826 1031
25 35 226 450 674 897 1121
26 34 244 489 733 975 1219
27 33 268 530 799 1061 1329
28 32 289 578 870 1156 1445
29 31 316 632 948 1261 1577
30 30 346 688 1034 1377 1720
31 29 376 751 1129 1502 1878
32 28 411 823 1234 1642 2053
33 27 450 900 1350 1794 2241
34 26 492 983 1475 1964 2456
35 26 539 1079 1618 2152 2688
36 24 590 1180 1770 2360 2950
37 23 650 1299 1949 2593 3239
38 22 715 1430 2146 2852 3564
39 21 787 1574 2360 3141 3928
40 20 867 1734 2602 3469 4333
Entry age Total Contributions Years Half-yearly Contribution Amount
Monthly Pension of Rs 1000 Monthly Pension of Rs 2000 Monthly Pension of Rs 3000 Monthly Pension of Rs 4000 Monthly Pension of Rs 5000
18 42 248 496 744 991 1239
19 41 271 543 814 1080 1346
29 40 295 590 885 1169 1464
21 39 319 637 956 1269 1588
22 38 348 690 1045 1381 1723
23 37 378 749 1133 1499 1877
24 36 413 820 1228 1635 2042
25 35 449 891 1334 1776 2219
26 34 484 968 1452 1930 2414
27 33 531 1050 1582 2101 2632
28 32 572 1145 1723 2290 2862
29 31 626 1251 1877 2496 3122
30 30 685 1363 2048 2727 3405
31 29 744 1487 2237 2974 3718
32 28 814 1629 2443 3252 4066
33 27 891 1782 2673 3553 4438
34 26 974 1948 2921 3889 4863
35 26 1068 2136 3205 4261 5323
36 24 1169 2337 3506 4674 5843
37 23 1287 2573 3860 5134 6415
38 22 1416 2833 4249 5648 7058
39 21 1558 3116 4674 6220 7778
40 20 1717 3435 5152 6869 8581

Read more about: apy atal pension yojana
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