Question
After how many months of non-payment , is the Atal
Pension Yojana account deactivated?Solution
The flagship social security scheme of Government of India ‘Atal Pension Yojana’ (APY) was launched on 9th May 2015. It is a voluntary, periodic contribution-based pension system. Depending on the monthly pension, the age of entry and the contribution pattern (monthly, quarterly or half yearly), the contribution to APY can range from Rs.42 to Rs.7778 : Â
Â
In case of non - payment of contribution in APY: Â
- a. On 6 months of non-payment of contribution, APY account will be frozen Â
- b. On 12 months of non-payment of contribution, APY account will be deactivated Â
- c. Automatic closure of the APY account after 24 months of non-payment of contribution Â
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