Atal Pension Yojana To avoid A Penalty, Make The Plan Regular

Atal Pension Yojana: To avoid a penalty, make the plan regular before this date, this is the way. In order to provide some relief to the people amidst the coronavirus epidemic, the central government had postponed the auto-debit facility for the Atal Pension Yojana (APY) till June 2020.

While the auto-debit facility was resumed from 1 July. Customers were given time till September 30 to regularize their APY(Atal Pension Yojana) account to pay contributions and avoid fines by the central government.

If APY customers fail to pay the missed contribution and regularize their account by 30 September, they will have to pay a fine. The suspension of auto-debit began in the second half of the month in April, meaning there is a high chance that most customers would have paid their contributions in April.

If you make quarterly or half-yearly contributions to APY(Atal Pension Yojana) and if you have paid in April, chances are you will not need any regularization, as your contribution will have been deducted.

However, if you are one of those customers who make monthly contributions and if your quarterly or semi-annual contribution was to happen in the months of May or June.

Then you would have missed the contribution because in these two months auto-debit Was seen to have been suspended. If you fall in this category then you have to check and verify the number of those installments to avoid any penalty.

You can check the APY(Atal Pension Yojana) transaction details or the statement of your registered bank account to review your contribution payment. You can see whether you have made any payment by reviewing the SMS alert from your bank.

To check for missed contributions, you can visit and download the APY statement. You can also use the APY mobile app to download the statement.

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