eAPY Online Facility for APY Subscriber Onboarding and Aadhaar Seeding

MASTER CIRCULAR

PFRDA/MASTERCIRCULAR/2024/02/CRA-02

31 January 2024

To, i. Central Recordkeeping Agency (‘CRA’) ii. National Pension System Trust (‘NPS Trust’) iii. Point of Presence - Atal Pension Yojana (‘PoP – APY’)

Madam / Sir,

eAPY – Online facility to ease onboarding and seeding of Aadhaar for APY subscribers

1. This Master Circular is issued in exercise of the powers conferred under Section 14(1) read with Section 14(2)(e) of the Pension Fund Regulatory and Development Authority Act, 2013.

2. This Master Circular rescinds the existing guidelines/instructions on the subject of “eAPY – Online facility to ease onboarding and seeding of Aadhaar for APY subscribers” and consolidates at one place. The list of underlying circulars rescinded in this Master Circular is furnished in the Appendix.

This Master Circular is issued with the approval of the competent authority.

Yours faithfully,

-sd- (Ashish Kumar) Chief General Manager

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INDEX

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PART I – Introduction

1. The Atal Pension Yojana (APY) was introduced by the Government of India to foster a pension-inclusive society, providing a means for every Indian citizen in the unorganized sector to secure their income during old age. Administered by the Pension Fund Regulatory and Development Authority (PFRDA), the scheme operates within the National Pension System (NPS) framework. Banks and branches of the Department of Post which are acting as APY Service Providers (APY-SP) (hereinafter referred to as ‘PoP – APY’).

2. The Government of India officially notified APY under Section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits, and Services) Act, 2016, on May 11, 2017. Further clarification was provided through a UIDAI circular dated November 25, 2019.

3. To enhance accessibility and simplify the subscription process, Protean e-Governance Technologies' Central Recordkeeping Agency (PCRA) has introduced eAPY. This digital facility utilizes Aadhaar eKYC/XML/Virtual ID, providing an additional option for seamless digital enrollment, lead generation mode that can be used by the Well-wishers (someone known to the subscriber) or by the individuals who are not able to approach the proper channel to open an APY account and online feature for migration of Swavalamban subscribers to APY. This eliminates the need to visit a bank branch, saving time, effort, costs, and offering significant convenience.

PART II – General Guidelines

4. The compliance obligation of the intermediary/entity shall not be confined merely to the Master Circular but, also the applicable laws.

5. This Master Circular shall take effect from the date of its issuance but shall be without prejudice to their (earlier issued circulars) operation and effect, for the period when they were in force, until them being subsumed under the Master Circular. Based on the above caveat, Part IV containing the list of circulars consolidated in the Master Circular shall stand rescinded with the issuance of this Master Circular, such that they are subsumed in the Master Circular and for all purpose and intent, remain operative, with no break of continuity.

6. Notwithstanding such rescission of any circular, upon their merger in the Master Circular, or otherwise, anything done or any action taken or purported to have been done or taken, or to be taken hereafter, under the circulars now rescinded (for the period of their operation) shall be construed to have been validly taken as if the said circulars are in full force and effect and shall remain unaffected by their rescission, in any manner.

7. The previous operation of the rescinded circulars or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred, any penalty, any order passed, any violation committed, any investigation, legal proceedings pending in terms of the circular (now rescinded), shall be treated as if the circulars are in full force and effect, and shall remain unaffected by their rescission, in any manner.

PART III – Specific Guidelines/Instructions

8. The eAPY facility empowers potential APY subscribers to register online through the service provided by PCRA, facilitating access to APY services. This feature allows subscribers to engage with the system effortlessly and conveniently in a paperless manner. The eAPY facility is offered at no cost, and there are no additional charges associated with its usage. Prospective APY subscribers can register via PCRA's portal and "APY and NPS Lite," mobile app using the following methods:

(i) Offline XML-based Aadhaar KYC (ii) Online Aadhaar-based eKYC (iii) Virtual ID

9. Prospective subscriber data, gathered through e-KYC framework, will be shared with their respective banks via online exchange. This enables the setup of an auto-debit for the chosen pension amount. Subsequent services for APY account holders will be handled by the respective PoP – APY. As per the new e-APY which is API based, details gathered through Aadhaar will be sent to PoP – APY for verification. Post verification the prospective subscriber will be allowed to complete the registration and PRAN will be generated on real time basis. These subscriber registration details along with PRAN will be shared with PoP – APY for debiting first contribution and setting up SI for the PRAN.

10. Subscribers opting for eAPY registration should ensure the following:

(i) The demographic information provided during eAPY registration matches the information in bank records. (ii) The savings account has sufficient balance for the first APY installment, based on the chosen pension amount (Rs 1000 - Rs 5000). (iii) APY account activation occurs after authentication of information retrieved from Aadhaar, including Name and Date of Birth.

PoPs–APY notifies subscribers of online registration rejections, providing reasons, and encourages resubmission of their requests after rectification.

11. PCRA facilitates Aadhaar seeding for existing APY subscribers through a consent mechanism, available via the CRA portal and "APY and NPS Lite" mobile app. PoPs – APY can also collect Aadhaar details with consent for seeding, using the file format provided by CRA. When opting for Aadhaar seeding through the eAPY facility, subscribers must ensure that their name and Date of Birth (DoB) align with CRA records.

12. All PoPs–APY are encouraged to include an eAPY link (https://enps.nsdl.com/eNPS/ApySubRegistration.html) on their corporate websites, enhancing customer onboarding and providing guidance on Aadhaar seeding.

13. PCRA shall make available guidelines/SOPs on eAPY for APY subscribers on its website, ensuring information is readily available for stakeholders.

PART IV - List of circulars consolidated in the Master Circular

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मास्टर परिपत्र

PFRDA/MASTERCIRCULAR/2024/02/CRA-02

31 जनवरी 2024

प्रति, i. केंद्रीय अभिलेखपाल अभिकरण ('सीआरए') ii. राष्ट्रीय पेंशन प्रणाली न्यास ('एनपीएस ट्रस्ट') iii. उपस्थिति अस्तित्व - अटल पेंशन योजना ('पीओपी - एपीवाई')

महोदया / महोदय,

ईएपीवाई – एपीवाई अभिदाताओं के लिए ऑनबोर्डिंग और आधार सीडिंग को आसान बनाने के लिए ऑनलाइन सुविधा