Overview

• A social security pension scheme introduced by Government of India
• Five Plans to choose from, based on the monthly assured pension – 1000, 2000, 3000, 4000 & 5000
• A person joins the 1000 scheme, will get a monthly assured pension of Rs. 1000
• Three premium paying options – Monthly, Quarterly and Half Yearly
• Premium will be auto-debited from the subscriber’s account
• Monthly Pension is available for the subscriber since attaining 60 years of age
• After the demise of the subscriber, same amount of pension is available to the spouse
• After the demise of both the subscriber and the spouse, the accumulated corpus is returned to the Nominee
• The indicative corpus is Rs. 1,70,000/- for the Plan 1000, and the proportionate multiples for other plans
• Subscriber needs to pay the premium till attaining 60 years of age
• In the event of subscriber’s demise before attaining 60 years of age, spouse can either transfer the subscription in his/her name or withdraw the corpus by terminating the subscription
• If the spouse opts for transfer the subscription in his/her name, he/she need to pay the premium till the time the original subscriber would have attained 60 years of age
• Option is available to the subscriber once in every year (currently during the month of April) to alter the financial parameters like Plan, Premium frequency etc.
• Under NPS architecture, Central recordkeeping Agency (CRA) is responsible for the centralized record keeping, administration and customer service functions for all subscribers under the NPS & APY and act as operational interface for all intermediaries. For APY related services the following registered CRAs are available

1. Protean eGov Technologies Ltd

2. Computer Age Management Services Ltd(CAMS)

3. KFIN Technologies Ltd

The charges by CRAs for APY related services are mentioned below:

Charge Head	Protean CRA	Kfintech CRA	CAMS CRA
PRA Opening (One Time)	Rs15/-	Rs15/-	Rs15/-
PRA Maintenance(per annum)	Rs20/-	Rs14.40/-	Rs16.25/-
Per transaction(Financial/Non-Financial)	NIL	NIL	NIL

• For more details Click Here