As per the new notification issued by the Pension Fund Regulatory and Development Authority of India (PFRDA) on Wednesday, October 27 individuals can now open an account for the Atal Pension Yojana online.
This step was taken in order to simplify the process amid the COVID-19 pandemic. The government has also added the option of Aadhar eKYC.
The notification said, "As of now, the enrolment of Subscribers happens through physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers). Now in order to further increase the outreach and simplify the process of Subscription, CRA (Central Recordkeeping Agency) would be providing digital onboarding based through Aadhaar eKYC as an additional option. Aadhaar XML-based onboarding has already been made available for the benefit of Subscribers. These processes are paperless."
For those who do not know, the Atal Pension Yojana was introduced in June 2015 for individuals who worked in the unorganised sector. Any citizen who is between the age of 18 - 40 years can apply for the scheme. They also need to have a savings bank account or a post office savings bank account.
Here's how you can open the account for the Atal Pension Yojana online:
Anyone interested in opening the account will have to verify details with Aadhaar based e-KYC process online. One can also contact the bank or a post office where they have their savings account.
