Atal Pension Yojana: Open Account Using Aadhaar on PFRDA Website; Check Details

Opening an Atal Pension account has become very easy for the people. Now you can open an account online on Pension Fund Regulatory and Development Authority of India (PFRDA) website.

Atal Pension Yojana is a scheme run by the central government that provides a guaranteed pension of Rs 5000.

 “Currently, the enrolment of subscribers happens by physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers).”

It further added “Now, in order to further increase the outreach and simplify the process of Subscription, CRA (Central Recordkeeping agency) would be providing digital on boarding based through Aadhaar eKYC as an additional option. Aadhaar XML based on boarding has already been made available for the benefit of subscribers. These processes are paperless," as per PFRDA circular dated October 27. 

How to open Atal Pension Yojana account using Aadhaar e-KYC on PFRDA online?

As per PFRDA circular, based on Aadhaar e-KYC facility, to open Atal Pension Yojana account you have to verify details with Aadhaar based e-KYC process online. The new Atal Pension Yojana subscribers can be onboarded by Central Record Keeping Agencies (CRAs) through Aadhaar eKYC. For the CRAs, this will be an additional option.

PFRDA says that all the APY accounts are to be linked with Aadhaar number for which the CRA will be providing a functionality for facilitating the Aadhaar linking of the existing APY subscribers through the proper consent mechanism. Additionally, APY-SPs can also collect the Aadhaar details from their associated subscribers with due consent which would then be shared with CRA for seeding.

Eligibility for Joining APS:

APY can be subscribed by any Indian citizen in the age group of 18-40 years having a bank account. APY is a government scheme administered by PFRDA through NPS architecture.

The minimum age of joining APY is 18 years and the maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.