PFRDA circular F. No. PFRDA/03/05/1/0001/2019-PnD-APY · 28 Mar 2025
Official title
Discontinuation of the practice of waiver of Overdue Interest (ODI) on delayed upload of contributions under APY
Summary
Check the official recordThe Pension Fund Regulatory and Development Authority (PFRDA) has decided to discontinue the practice of granting waivers for Overdue Interest (ODI) on delayed uploads of contributions under the Atal Pension Yojana (APY). Previously, such waivers were permitted in exceptional circumstances with PFRDA approval due to technical issues. Effective April 14, 2025, no further requests for ODI waivers will be considered. Points of Presence (PoPs-APY) are required to strengthen their systems to ensure timely contribution uploads. Failure to adhere to prescribed timelines will result in the PoPs-APY being held liable to pay compensation as per existing guidelines.
What you must do
Key dates
Who is affected
If you do not comply
पेंशन निधि विनियामक और विकास प्राधिकरण
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
वेंकटस्वरलू पेरी कार्यकारी निदेशक
Venkateswarlu Peri Executive Director
F. No. PFRDA/03/05/1/0001/2019-PnD-APY 28th March, 2025
To,
All Points of Presence – Atal Pension Yojana (PoPs-APY)
Subject: Discontinuation of the practice of waiver of Overdue Interest (ODI) on delayed upload of contributions under APY
Sir/Madam,
Reference is drawn to our earlier instructions/circular on the subject matter wherein, it was advised that waiver of overdue interest for delayed upload of contributions due to technical reasons shall be with the approval of PFRDA and seeking such approvals shall be in exceptional circumstances.
In this regard, after due examination of all the issues involved and keeping in view of the interest of the subscribers, it has been decided to discontinue the practice of grant of waiver for overdue interest with effect from 14th April, 2025 (Monday) and no request for waiver of ODI shall be considered after the said date.
PoPs-APY are advised to take note of the above and make the systems robust so that no instances of delayed upload of contribution files under APY arise, irrespective of any reason.
Further, PoPs-APY are requested to strictly follow the timelines prescribed by PFRDA for the purpose and it may be noted that, in case of uploading contribution files post stipulated timelines, PoPs-APY shall be liable to pay compensation in terms of the instructions/guidelines issued earlier on the matter.
The PoPs-APY are advised to acknowledge the receipt of this communication and implementation of the above advice.
(Venkateswarlu Peri) Executive Director
ई-500, टॉवर ई, पांचवां तल, वर्ल्ड ट्रेड सेंटर, नौरोजी नगर, नई दिल्ली-110029 दूरभाष : 011-40717908, ई-मेल: venkateswarlu.peri@pfrda.org.in वेबसाइट : www.pfrda.org.in E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi-110029 Phone : 011-40717908, E-mail:venkateswarlu.peri@pfrda.org.in Website : www.pfrda.org.in
