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THE ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

Sponsored By Goverment Of Arunachal Pradesh
Head Office: NAHARLAGUN, ARUNACHAL PRADESH, 791110 INDIA

IFSC CODE: YESB0ARCB01 (0 = ZERO) ATM COMPLAINING FORM EMI CALCULATOR C-PEC, BIRD Registration CD Ratio Calculator

Images
THE ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

Sponsored By Goverment Of Arunachal Pradesh

Head Office: NAHARLAGUN, ARUNACHAL PRADESH, 791110 INDIA

IFSC CODE: YESB0ARCB01 (0 = ZERO) ATM COMPLAINING FORM EMI CALCULATOR C-PEC, BIRD Registration CD Ratio Calculator

Go Digital India

Today Is Thu, 21st Nov, 2024

Bank Is Implementing Govt Sponsored Schemes Only Like CMPVY, DEDS, NRLM, CMFMP, SHG, WCC and Cooperative Societies Bank Is Now Digitalisation, CBS, NEFT, RTGS, DBT Bank is also Implementing Social Security Schemes Like PMJDY, PMJJBY, PMSBY, APY etc Bank Has ATM, Micro ATM, Mobile Van ATM, ATM Cards for normal debit cards and PMJDY, Rupay ATM cards PFMS Is LIVE Deposit Of Govt. Departments QR CODE is enabled Bank do not ask for ATM Pin No or OTP, Please do not provide any information to any calls

PMJDY PMJJBY PMSBY ATAL PENSION YOJANA
Bank Services

APY

Atal Pension Yojana (APY) – Details of the Scheme

For More Information Please Visit Apex Bank Nearest Branch

1 Introduction

1.1 The Government of India is extremely concerned about the old age income security of the working poor and is focused on encouraging and enabling them to join the National Pension System (NPS). To address the longevity risks among the workers in unorganised sector and to encourage the workers in unorganised sector to voluntarily save for their retirement, who constitute 88% of the total labour force of 47.29 crore as per the 66th Round of NSSO Survey of 2011-12, but do not have any formal pension provision, the Government had started the Swavalamban Scheme in 2010-11. However, coverage under Swavalamban Scheme is inadequate mainly due to lack of guaranteed pension benefits at the age of 60.

1.2 The Government announced the introduction of universal social security schemes in the Insurance and Pension sectors for all Indians, specially the poor and the under-privileged, in the Budget for the year 2015-16. Therefore, it has been announced that the Government will launch the Atal Pension Yojana (APY), which will provide a defined pension, depending on the contribution, and its period. The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA). Under the APY, the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by any subscriber under APY would be 20 years or more. The benefit of fixed minimum pension would be guaranteed by the Government. The APY would be introduced from 1st June, 2015.

2 Benefit of APY

2.1 Fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.

3 Eligibility for APY

3.1 Atal Pension Yojana (APY) is open to all bank account holders. 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 1st June, 2015 and 31st December, 2015 and who are not members of any statutory social security scheme and who are not income tax payers. However the scheme will continue after this date but Government Co-contribution will not be available.

3.2 The Government co-contribution is payable to eligible PRANs by PFRDA after receiving the confirmation from Central Record Keeping Agency at such periodicity as may be decided by PFRDA.

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Contact Us
The Arunachal Pradesh State Cooperative Apex Bank Ltd.
C/O: Managing Director
Head Office : Naharlagun
D-Sector, Apex Bank Building, Near Hathi Matha
Arunachal Pradesh - 791110
Phone No.
Email:- md@arunachalapexbank.com
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