Pension Fund Regulatory and Development Authority of India or PFRDA For those who want to open Atal Pension Yojana, a notification has been sent on Wednesday, which has brought a lot of relief. PFRDA in a circular dated 27 October 2021 has said that the process can be done online. It states that in order to simplify the process of enrollment in Atal Pension Yojana, Government Aadhaar eKYC option has been added whereby citizens can subscribe to the scheme.
“As of now, the enrollment of Subscribers takes place through physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers). Now to further enhance the outreach and simplify the process of membership, CRA (Central Recordkeeping Agency) will provide digital on boarding through Aadhaar eKYC as an additional option. Aadhaar XML based on boarding has already been made available for the benefit of the members. These processes are paperless,” reads the notification issued by PFRDA.
Here’s what you need to know about Atal Pension Yojana and how you can avail eKYC service.
What is Atal Pension Yojana?
According to the website of PFRDA, Atal Pension Yojana was launched six years back on 1st June 2015 and is a scheme for people in the unorganized sector.
“Atal Pension Yojana (APY), a pension scheme launched by the Government of India focuses on workers in the unorganized sector. Under APY, the minimum guaranteed pension is Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month depending upon the contribution made by the subscribers towards their chosen pension amount after attaining the age of 60 years,” reads a note on the official website. Is.
Who can subscribe to this scheme?
Any person who is a citizen of India can join this scheme, provided the age of the subscriber is between 18 to 40 years. In addition, people can apply only if they have a savings bank account / post office savings bank account. “Prospective applicants can provide their APY account as well as mobile number to the bank during enrollment under APY to get periodic updates on the APY scheme. Aadhaar can also be provided at the time of enrollment as the APY scheme has been notified for the same,” states the PFRDA website.
Steps to open Atal Pension Yojana account using Aadhaar e-KYC on PFRDA online
Anyone who wants to open an Atal Pension Yojana account has to verify the details online with Aadhaar based e-KYC process. New customers can be added by Central Record Keeping Agencies (CRAs) through Aadhaar eKYC. However, it is an additional option for those who have already subscribed to the Atal Pension Yojana or APY scheme.
The Pension Fund Regulatory and Development Authority of India has notified that all accounts under Atal Pension Yojana are to be linked with the Aadhaar number of the users. “All APY accounts are to be linked with Aadhaar number, for which CRA will facilitate Aadhaar linking of existing APY customers through proper consent mechanism. Additionally, APY-SPs may also collect Aadhaar details with proper consent from their affiliated customers, which will then be shared with the CRA for seeding,” reads the October 27 notification.
In addition, one can also approach the bank branch or post office where he/she has a savings bank account or open an account if the customer does not have a savings account.
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