A good news for Atal Pension Yojana scheme (apy) account holders. Now 45 lakh account holders of the Indian government’s social security scheme – Atal Pension Yojana scheme (apy) – can now see the details of their apy account online.
There are more than 45 lakh apy account holders and almost 10,000-15,000 individuals are enrolling in the apy scheme every day, the ministry stated.
Citizen between the age group of 18-40 years can avail the apy scheme. The account holder would get a minimum ensured pension of Rs 1,000 to Rs 5,000 each month from the age of 60 years, depending upon their contributions.
The equivalent amount of pension is paid to the spouse in case of the apy account holder’s death. After the death of both (account holder and spouse), the nominee will be paid the pension corpus.
The finance ministry introduced the facility with a goal to “digitally empower the APY (Atal Pension Yojana) account holders and enhance the quality of service.”
The Indian citizens, who do not have APY-PRAN account and wish to enroll in the scheme can avail the facility by simply proving their date of birth and savings account details.
The finance ministry further stated that by providing the APY-PRAN (Permanent Retirement Account Number) details and savings bank account number, the APY account holder can view his or her account statement online.
The Finance Ministry also added that while the function is a self-servicing tool, the service providers can likewise access it on behalf of their consumers to enhance the quality of customer service.
Currently, there are 235 service providers including banks offering Atal Pension Yojana scheme/PRAN.
The ministry further said that by introducing this tool they hope to make it a transparent process and provide the apy account holders with access to their complete details like transaction, pension amount and commencement date, nominee and associated bank name.