Laws and sections by number or title, due dates, pages, and updates.
Atal Pension Yojana applicants must provide separate details for the spouse and the nominee during scheme enrollment. The spouse serves as the default nominee to receive the pension corpus or life pension. Subscribers should choose a person other than the spouse as the nominee to receive the return of the pension corpus after the death of the subscriber and the spouse. Unmarried subscribers must furnish spouse details after marriage. Banks must verify details before enrollment. Existing subscribers who provide identical details for both fields must submit a change request to correct the records.
What you must do
Who is affected
Ask about this circular
[Image omitted. See the official document.]
पेेंशन निधि विनियामक और विकास प्राधिकरण बी-14/ए, छत्रपति शिवाजी भवन, कुतुब संस्थागत क्षेत्र, कटवारिया सराय, नई दिल्ली-110016. दूरभाष : 011-26517501 फैक्स : 011-26517507 वेबसाइट : www.pfrda.org.in
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016. Ph : 011-26517501 Fax : 011-26517507 Website : www.pfrda.org.in
CIRCULAR
File Ref. No.: PFRDA/4/62
August $23^{\text{rd}}$, 2016
To all Banks/DoP
Nomination in APY
In Atal Pension Yojana, the prospective applicants are required to provide the following details while enrolling into the scheme
The spouse of the subscriber who is designated as default nominee is entitled to receive the accumulated corpus lying in APY-PRAN in case of death of the subscribers before the attaining the age of 60 years.
The spouse also will be eligible for receipt of pension for life after the death of the subscriber after the latter receives the pension from the age of 60 years.
The unmarried subscribers are required to furnish the spouse details after marriage.
With regards to name of nominee, it is clarified that the name of the nominee should preferably be a person other than spouse to avail the third benefits described as per the scheme which is the return of pension corpus after the death of the subscriber and the spouse. The nominee is designated as the beneficiary of the recipient of indicative pension corpus amount ie Rs 1.70 lac - Rs 8.50 lac as the case may be.
It is observed that the subscribers of APY are providing the same person's details at both places ie for spouse and nominee. Banks are advised to verify the details before enrollment. The exiting subscribers who have furnished incorrect details are advised to correct the same by submitting the change request to the respective bank branches.
Yours Sincerely
[Image omitted. See the official document.]
Ananta Gopal Das Chief General Manager
[Image omitted. See the official document.]
(Administered by Pension Fund Regulatory and Development Authority)
To, The Branch Manager, _______________________________________________________ Bank______________________________Branch
Dear Sir/Madam, I hereby request that an APY account be opened in my name under NPS as per the particulars given below:
| 1. BANK DETAILS: | |
|---|---|
| Bank A/c Number* | |
| Bank Name* | Bank Branch* |
| 2. PERSONAL DETAILS: | |||||||
|---|---|---|---|---|---|---|---|
| Name of Applicant in full Shri [ ] Smt. [ ] Kumari [ ] | |||||||
| Full Name | |||||||
| Date of Birth* | d d | / m m | / y y y y | Age | Mobile No | ||
| Email ID | Aadhaar | ||||||
| Married | Yes [ ] No [ ] | If married, spouse name is mandatory. Spouse will be default nominee under APY. | |||||
| Name of Spouse | A [ ] | ||||||
| Nominee's Name* | B [ ] | ||||||
| Nominee's Relationship with the subscriber | |||||||
| Additional Details in case nominee is a Minor | |||||||
| Date of Birth* | d d | / m m | / y y y y | ||||
| Guardian's Name* | |||||||
| Whether beneficiary of other statutory social security schemes | Yes [ ] | No [ ] | |||||
| Whether Income Tax Payer | Yes [ ] | No [ ] | |||||
| 3. PENSION DETAILS | |||||
|---|---|---|---|---|---|
| Pension Amount (Please tick($\sqrt{^{\mathstrut}}$)) * | 1000 | 2000 | 3000 | 4000 | 5000 |
| Contribution Amount (Monthly/Quarterly) (in Rs.) (To be filled by the Bank) | I hereby authorize the bank to debit my above mentioned bank account till the age of 60 for making payment under APY as applicable based on my age and the Pension Amount selected by me. If the transaction is delayed or not effected at all for insufficient banlance, I would not hold the bank responsible. I also undertake to deposit the additional amount together with penalty thereon. | ||||
| 4. Peridocity of contribution payments (Tick one) | Monthly [ ] |
|---|---|
| Quarterly [ ] | |
| Half Yearly [ ] |
Declaration & Authorization by all subscribers
I meet the prescribed eligibility criteria for assistance under APY and I have read and understood the terms and conditions of the Scheme. I hereby agree to the same and declare that the information furnished by me is true and correct, to the best of my knowledge and belief. I undertake to immediately inform the bank of any change in the above information furnished by me. I understand that I shall be fully liable for submission of any false or incorrect information or documents. I have read/been explained and have understood the APY guidelines. I further agree to be bound by the terms and conditions of provision of services under the scheme as approved by PFRDA/Govt. of India.
| Date | d d | / m m | / y y y y | Signature/Thumb Impression* of Subscriber (* LTI in case of male and RTI in case of female) ........................................................... |
| Place | ||||
ACKNOWLEDGEMENT - SUBSCRIBER REGISTRATION FOR ATAL PENSION YOJANA (APY) (To be filled by the Bank)
| Name of the Subscriber: | |
| PRAN Number | |
| Guaranteed Pension Amount | |
| Periodicity of Contribution (Tick one) | M o n t h l y [ ] Q u a r t e r l y [ ] |
| Monthly Contribution/ Quarterly Contribution Amount under APY | |
| Name of the Bank | |
| Bank Branch: | |
| Receiving Officer's Name: | |
| Date of Receipt of Application: | Stamp and Signature of the Bank |
