Contribution Table (Age-wise) 

Other terms :-

·     Under the scheme, premium amount will be auto debited monthly by the Bank from the beneficiary’s Savings Account and the same will be remitted.

·    To join the scheme of Atal Pension Yojana, application in prescribed format is to be given.  Aadhar Card and Mobile Number are accepted for KYC norms but in case Aadhar card is not available at the time of registration, the same may be submitted later on.

·     Under the scheme, option to increase or decrease the premium amount is available only once in a year i.e. during the month of April.

·    The Central Government would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from Financial Year 2015-16 to 2019-20, who join the NPS between the period 1stJune, 2015 and 31^st December, 2015 and who are not members of any statutory social security scheme and are not income tax payers.

·     Under the scheme, penalty will be levied by the Bank for delayed payment of premium is as under :-

·    If premium is not paid for a period of 6 months, the account will be freezed and the account will be de-activated if the premium is not paid for a period of 12 months.

·     After completion of 60 years, member has to submit an application to the concerned bank for drawing of guarantee monthly pension.

Benefits :-

·  Under the scheme, after completion of 60 years of age, a monthly pension between Rs.1000/- to Rs.5000/- will be paid by the Central Government to the policy holder.

·  In case of the death of the policy holder, the pension will be paid to the spouse of the deceased, in case of death of the both, corpus of   pension will be paid to

     the nominee of the policyholder.