Introduction Atal Pension Yojana Form
In India, not many people have pension plans and this has come to the attention of the Government of India. As of May 2015, only 11% of the population had a pension scheme. To help its citizens be financially secure during their retirement, the Government has introduced the Atal Pension Yojana Scheme. This scheme aims to help the unorganised sector. For the first five years, for every contribution a person makes, the government will contribute 50% of that amount into their fund. The scheme will continue till the age of 60, after which the person will start receiving pension. If a citizen contributed between the age of 18 and 40, they will be entitled to a fixed pension between Rs. 1000 and Rs. 5000.
Requirements to apply for Atal Pension Yojana
The requirements for the Atal Pension Yojana Scheme is quite simple. The following criteria must be met.
- You need to have a bank account.
- You need an Aadhaar card linked to the bank account.
- The minimum age requirement is 18 years.
- The maximum age is 40 years. You must contribute for at least 20 years to be eligible to receive pension.
- You need to provide a mobile number to receive the SMS confirmation.
Getting the Atal Pension Yojana Form
The Atal Pension Yojana form is available both online and at the banks. The form is called “Atal Pension Yojana (APY) - Subscriber Registration Form.
- The form can be found on the Atal Pension Yojana official website. You can download and print the Atal Pension Yojana form in the language of your choice.
- Forms are also available at private commercial banks who are registered with the scheme.
- Forms are available in all nationalised banks.
Atal Pension Yojana Form Languages
The Atal Pension Yojana application form is available in 9 languages. The following are the languages in which the form is available.
How to fill the Atal Pension Yojana Form
Once you have procured the form for the Atal Pension Yojana Scheme, filling it up is simple.
Step 1: Address
You have to address the form to the Branch Manager. You can find out the name of your Branch Manager by calling or visiting the bank. Enter your bank name and branch.
Step 2: Bank details
You can start filling the form in BLOCK letters. First, you are required to provide your bank details. Enter your bank account number, bank name and bank branch. Filling up this field is compulsory.
Step 3: Personal details
- Tick the box that is applicable that indicates whether you are “Shri”, “Smt” or “Kumari”. Tick “Shri” if you are a male applicant. Tick “Smt” if you are a married female applicant. Tick “Kumari” if you are a single female applicant.
- Enter your full name, date of birth, and age.
- Provide your mobile number, email address and aadhaar card number.
- Tick the correct box to indicate if you are married or single. If you are married, you must provide your spouse’s name.
- You can then nominate someone and state their relationship to you. A nominee will receive your contribution in case of your death.
- If the nominee is a minor, you need to provide their date of birth and guardian's name.
- You must also state if the nominee has any other statutory social security schemes and if they are income taxpayers.
Step 4: Pension details
You can opt to contribute towards a pension of Rs. 1000 up to Rs. 5000. The form gives you the option of ticking 1000, 2000, 3000, 4000 or 5000. The box below that is to be filled in by the bank titled “Contribution Amount (Monthly)”. Leave that space blank. The bank will calculate the amount you have to pay every month to receive the pension of your choice. This calculation is done on the basis of your entry age. For example, for a pension of Rs. 2000, if your entry age is 25 years, you will have to pay Rs. 151 per month.
Step 5: Declaration and Authorization
You need to fill in the date and place. You can either sign the document or put a thumb impression. By signing the document, you declare that you meet the Atal Pension Yojana eligibility criteria, and that you have read and understood the terms and conditions of the Atal Pension Yojana Scheme. You declare that all the information you have written is correct as far as you know. If any changes have to be made to the information provided, you will contact the bank immediately. You also declare that you do not have any account under NPS ( National Pension System). You will be held liable for any false and correct information knowingly provided, including the Aadhaar card.
Step 6: To be filled in by the bank
The last section of the Atal Pension Scheme form is to be filled in by the bank titled “Acknowledgement - Subscriber Registration for Atal Pension Yojana (APY)”. You should leave this box blank. It is an acknowledgment of the bank that they will subscribe to the Atal Pension Yojana Scheme for you. After you submit the form, the bank agent will fill it out.
Important notes on filling the Atal Pension Yojana Form
- The asterisk symbol (*) means that detail requirement is mandatory and must be filled up.
- The Atal Pension Scheme application form should be filled up in BLOCK letters and not cursive writing.
Important informationthe Atal Pension Yojana Scheme
- To pay the premium for the pension scheme, your bank account will automatically be debited every month. You must ensure that your account has sufficient balance. This deduction will take place till the age of 60.
- You can opt to make the contribution on a monthly, quarterly, and bi-annual basis.
- If you fail to keep the set amount in your bank account by the debit date, then you will have to pay a fine of Rs. 1 for every Rs. 100 per month. For the next month, you will have to deposit the money for previous month + current month + penalty fees in your account.
- If you wish to increase your contribution, you can visit your bank and request them to debit a higher amount.
- In the event of your death, your nominee will receive your contribution to the Atal Pension Yojana Scheme.
- You can prematurely withdraw your pension before the age of 60, in the event of terminal illness.
- If you withdraw the pension before 60 years for any other reason, only your contribution plus interest earned will be returned. Any contribution made by the Government plus interest earned will not be paid.
- Is there any fees or processing charges to join the Atal Pension Yojana Scheme?
- Is there an option to apply online for the APY scheme?
- Along with the application form, do I have to submit any documents?
- How will I know if my application was approved?
- When does registration for the APY scheme close?
No, the scheme is free of any charges. Whether you apply at a nationalised bank or a private bank, there are no fees to join the APY scheme. The APY application form is also free.
You can apply for the Atal Pension Yojana Scheme only at a bank. There is no option yet of applying online.
Yes, you must submit a photocopy of your Aadhaar card. No other documentation is required to join the APY scheme.
When your application is approved, you will receive an SMS confirmation on the mobile number you provided in the application form.
There is no closing date to apply for the APY scheme. The Atal Pension Yojana Scheme is renewed every year on June 1st. Submit your application before June 1st to join the scheme for that year.
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