Atal Pension Yojana Contribution, Penalty and Exit Rules Simplified

News:

• With an aim to widen the reach of Atal Pension Yojna among informal sector workers, the government said it has modified the flagship programme.
• “The account will not be deactivated and closed till the account balance with self-contributions minus the government co-contributions become zero due to deduction of account maintenance charges and fees,” the statement said.
• Now the modified provision permits the subscriber to voluntarily exit with conditions.
• The subscriber will only be refunded the contributions made by him to APY, along with the net actual interest earned on his contributions.

Source: ET