In case of upgradation of pension contribution under Atal Pension Yojana, the subscribers have to pay the differential amount of contribution at the rate of ____ on monthly compounding basis.

Solution

A subscriber of Atal Pension Yojana can opt to decrease or increase pension amount during the course of accumulation phase, once a financial year. ·         For upgradation , the subscribers have to pay the differential amount of contribution at the rate of 8% p.a. on monthly compounding basis ·         In the case of down gradation , the excess amount of contribution collected from the subscriber would be refunded to the subscribers along with the returns generated. For upgradation or down gradation, other than error cases, the subscribers would be required to pay a fee of Rs. 50, which will be shared equally by PoP-APYSP and CRA.