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I am 42 now. Can I apply for APY?

Asked on 13-08-2018 by Vineeta Sharma

Answered by NewsBytes

No, you can't apply for Atal Pension Yojna because as per the eligibility criteria on the official website, the maximum age limit to apply for this scheme is 40 years.

I have a pf account already. Can I join APY?

Asked on 13-08-2018 by Sonu Kalla

Answered by NewsBytes

Yes, you can join APY even when you are enrolled in other social security schemes. The eligibility criteria of APY is that your age should be between 18-40 years and you should have a saving bank account.

My wife's age is 39 years. For how many years, and how much monthly subscription she will have to pay if she applies for Rs.5,000 monthly pension under this scheme?

Asked on 13-08-2018 by Manoj Mohapatra

Answered by NewsBytes

She can invest for 21 years in APY. She will have to invest Rs.1,318 per month or Rs.3,928 quarterly or Rs.7,778 half-yearly to get Rs.5,000 per month as pension after the age of 60.

Is there any age limit for start APY?

Asked on 13-08-2018 by Vineeta Sharma

Answered by NewsBytes

The minimum age limit to join APY is 18 years and the maximum is 40 years.

Suppose the subscriber died, then what is the amount the nominee will get?

Asked on 12-08-2018 by manjunath pi

Answered by NewsBytes

In the case of subscriber's death, the spouse will receive the pension money. The nominee, on the death of both the subscriber and the spouse, will receive the whole amount. The amount varies as per the years of contribution and the amount deposited.

Why can't a Subscriber update /modify in APY PRAN A/C? How much time will it take to exceed the pension amount from Rs.5,000 to Rs.10,000 and also subscribers' debit amount?

Asked on 12-08-2018 by Suresh Chandra Dash

Answered by NewsBytes

You can make the necessary changes in PRAN A/C by submitting the following forms- (1)Form S2/CS-S2, (2)Form S3/CS-S3, and (3)Form S7. Under APY PRAN scheme, you will only receive Rs.5,000 per month because it is the last slab. You can change your debit amount or scheme preference by using the forms mentioned above.

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