Atal Pension Yojana Statement

Atal Pension Yojana is a government-backed pension scheme aimed at providing financial security during retirement. The APY statement provides detailed information on contributions, credited amounts, and the status of the pension account. Regularly accessing and reviewing the APY statement helps ensure that contributions are correctly recorded and can aid in claiming tax deductions under the Income Tax Act.

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What is Atal Pension Yojana?

The Atal Pension Yojana (APY) is a voluntary government-backed pension scheme in India designed to provide financial security after retirement, particularly for those working in the unorganized sector. Launched in 2015, APY allows individuals between 18 and 40 years old to contribute a fixed monthly amount towards their retirement corpus. The government co-contributes an additional amount based on your chosen contribution tier and age of enrollment. Upon reaching 60 years old, you can receive a guaranteed minimum monthly pension based on your accumulated corpus. It's a great way to ensure a steady income stream in your golden years.

Ways to Access Your Atal Pension Yojana Statement

There are two primary ways to access your APY statement:

  • Bank Branch: Visit the bank branch where you enrolled for APY. You can request a physical copy of your statement or inquire about obtaining it electronically.

  • Online Portal: You can access your APY statement online through the National Pension System (NPS) portal (https://www.npscra.nsdl.co.in/scheme-details.php https://www.npscra.nsdl.co.in/scheme-details.php) if you have linked your APY account.

How to Check Atal Pension Yojana Statement Online?

  1. Visit the Official Website:

    Head over to the official website of the APY NPS Central Recordkeeping Agency (CRA) at https://www.npscra.nsdl.co.in/scheme-details.php https://www.npscra.nsdl.co.in/scheme-details.php. This website is your gateway to managing your APY account online.

    apply-pran

    Source: npscra

  2. Choose Your Login Method:

    On the homepage, under the "Subscriber" section, you'll see two options:

    • Transaction Statement View (Without PRAN): This option is for those who don't have their Permanent Retirement Account Number (PRAN) readily available.

    • APY e-PRAN Transaction: This option is for those who have their PRAN and want a more detailed view.

    apply-pran

    Source: npscra

  3. Logging In:

    Option A: With PRAN

    • Select "APY e-PRAN Transaction."

    • Enter your 12-digit PRAN, which you received after registering for APY. It's typically sent to your registered mobile number.

    • You may also be required to enter your bank account details associated with your APY account.

    apply-pran

    Source: npscra

    Option B: Without PRAN

    • Select "Transaction Statement View (Without PRAN)."

    • Enter the bank account number linked to your APY account.

    • Provide your full name as registered with APY.

    • Enter your date of birth.

    apply-pran

    Source: npscra

  4. Accessing Your Statement:

    • Once you've logged in successfully, you'll be directed to a page titled "Views for Subscriber."

    • Here, you'll see two further options:

      • Statement of Transaction View: This provides a detailed record of your contributions, including both yours and the government's share.

      • APY e-PRAN View: This offers a broader view of your account, potentially including an estimated corpus amount based on your contributions.

  5. Final Step:

    • Select the desired view (Statement of Transaction or APY e-PRAN).

    • You may need to enter a captcha code displayed on the screen.

    • Click "Submit" to access your APY statement.

How to Check Atal Pension Yojana Statement Offline?

According to NPS, you will receive a message on your registered contact number informing you about the status of your monthly payments. Additionally, a physical transaction statement is mailed to your address annually.

You will also get an email with the transaction statement. Alternatively, you can visit the bank where you hold your Atal Pension Yojana account to access this information.

Other Ways to Check Atal Pension Yojana Balance Online

  • Download the NPS Lite and APY mobile app.

  • Log in using your PRAN details.

  • An OTP will be sent to your registered mobile number and will be automatically entered into the app. Click submit.

  • You will be redirected to the homepage, where you can view the transaction statement, including your total holdings and asset allocation.

  • In addition to checking your Atal Pension Yojana balance, you can also see the pension amount, nominee name, e-PRAN card, pension commencement date, and other APY account details.

Why Should You Check Your Atal Pension Yojana Statement?

  • Contributions to the Atal Pension Yojana (APY) qualify for tax deductions.

  • Under section 80CCD(1) of the Income Tax Act 1961, you can receive a tax exemption of up to 10% of your total income, with a maximum deduction of ₹1.5 lakh per annum as per section 80CCE.

  • To claim these benefits, you need to provide the APY transaction statement as proof.

  • Checking your statement ensures timely credit to your APY account and helps avoid penalty charges.

  • Regularly download and review your Atal Pension Yojana statement to prevent inconveniences.

  • Keep your PRAN and bank account details handy to simplify the login process and avoid any hassle.

FAQs

  • Is the estimated amount in my statement guaranteed?

    No, the estimated maturity amount and monthly pension are not guaranteed. They are projections based on current scheme parameters and market returns. The actual amount may vary depending on future interest rates and investment performance.
  • What if I find a discrepancy in my APY statement?

    If you notice any discrepancies in your statement, such as missing contributions or incorrect information, contact your bank or the nearest branch handling APY enrollments for clarification and rectification.
  • How often should I check my APY statement?

    It's recommended to review your APY statement regularly, at least once a year, to track your progress and ensure everything is in order.
  • Can I get a physical copy of my APY statement?

    Yes, you can visit the bank branch where you enrolled for APY and request a physical copy of your statement.

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^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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