Standard Operating Procedure of Atal Pension Yojana (APY) in DOP Finacle
1. General
Any individual or existing Swavalamban Yojana subscriber who has
completed 18 Years of age and is below 40 Years of Age on the day of applying can
open APY account in any authorized CBS Post Office. The contribution for APY
will be debited every month (if opted for monthly) or the first month of a
quarter (if opted for Qutrly.) or first month of the Half Year (if opted for
Half Yearly) from the subscriber Savings Account based on the Standing
Instruction provided by the subscriber in APY Subscriber Registration Form.
Under the APY, the subscribers would receive the fixed pension from Rs. 1000 to
Rs. 5000 per month (Rs. 1000, 2000, 3000, 4000 and 5000), at the age of 60
years, depending on their contributions. The contributions would vary as per
the age of the subscriber on the day of joining APY and the pension amount
opted by the subscriber. In addition, Government co-contribution (50% of the
total contribution or Rs. 1,000/- per annum, whichever is lower) will be made available
for 5 years, i.e., from the Financial year 2015-16 to 2019-20 for the
subscribers who join the scheme up to 31st December, 2015 and who are not
covered by any Statutory Social Security Schemes and are not Income Tax payers.