Answer-After how many months of non-payment , is the Atal Pension Yojana account deactivated?

Q: Answer-After how many months of non-payment , is the Atal Pension Yojana account deactivated?

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 In case of non - payment of contribution in APY a. On 6 months of non-payment of contribution, APY account will be frozen b. On 12 months of non-payment of contribution, APY account will be deactivated c. Automatic closure of the APY account after 24 months of non-payment of contribution The Bank can recover the due amount any time until the last day of that month. Funds can be recovered as and when there are funds in the APY-linked bank account and at any point of time during the month.

Question

Answer-After how  many months of non-payment , is the Atal Pension Yojana  account deactivated?

Accepted Answer

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 :

In case of non - payment of contribution in APY:

a. On 6 months of non-payment of contribution, APY account will be frozen

b. On 12 months of non-payment of contribution, APY account will be deactivated

c. Automatic closure of the APY account after 24 months of non-payment of contribution

The Bank can recover the due amount any time until the last day of that month. Funds can be recovered as and when there are funds in the APY-linked bank account and at any point of time during the month.

After how many months of non-payment , is the Atal Pension Yojana account deactivated?

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