Once an Atal Pension Yojana (APY) subscriber reaches 60 years of age, they become eligible to receive a monthly pension. The pension amount depends on their contribution history. This guide will help you understand the claim process, eligibility, and key considerations.
Steps to Claim Your APY Pension
1. Ensure You Meet the Eligibility Criteria
You must have completed 60 years of age.
Your APY account must be active with regular contributions.
If you have missed payments, clear outstanding dues before claiming your pension.
2. Visit Your Bank or Post Office
APY pension is disbursed through the bank or post office where you registered.
Carry the following documents:
PRAN Number (Permanent Retirement Account Number)
Aadhaar Card
Bank Passbook (for pension deposit verification)
Date of Birth Proof
3. Fill the APY Pension Claim Form
Request the APY pension claim form from your bank.
Fill in the required details, including:
PRAN & Bank Account Details
Nominee Details (if applicable)
Consent for Monthly Pension Credit
4. Pension Disbursement Begins
Once the bank processes your request, the pension will be automatically credited to your account every month.
The pension amount will be the same as per your APY contribution (₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 per month).
Frequently Asked Questions:How to Claim APY Pension After Retirement?
1. What Happens If a Subscriber Does Not Claim the Pension?
The APY pension will be held in the account until a claim is made.
If the subscriber passes away without claiming, the nominee/spouse can claim the pension.
2. Can I Change My Pension Payout Account?
Yes, you can request your bank to change the pension deposit account if needed.
3. Is the APY Pension Taxable?
Yes, pension payouts are taxable under your applicable tax slab.
Conclusion
Claiming your Atal Pension Yojana pension is a straightforward process. Once you turn 60, visit your bank, fill out the claim form, and start receiving monthly pension benefits directly into your account.
Ensure your details are up to date with your bank to avoid pension disbursement delays!
