How to Check APY Balance by Downloading APY Statement?

Atal Pension Yojana, or APY, is a pension scheme put forth by the government of India, primarily for the unorganized sector. As the name suggests, Atal Pension Yojana, is a pension scheme in which the eligible candidates can enroll and save for their old age. To be eligible for enrolling yourself in APY, you must be a citizen of India of 18-40 years of age having a savings bank account or a post office savings bank account.

To make sure that the underprivileged folks get the best of this scheme, a new mandate came into place. As per this, from 1st October 2022, any citizen who is or has been an income tax payer under the Income Tax Act, 1971, will not be eligible to participate in APY.

Atal Pension Yojana or APY statement, a document that records all contributions, such as your accumulated balance as well as the pension amount, is a vital tool for monitoring your investment in the scheme. It details your contributions, the government's co-contributions (not applicable now), and the accrued interest. Regularly checking your APY statement not only helps in keeping track of your savings but also ensures that discrepancies, if any, are spotted and rectified in time.

You can check your Atal Pension Yojana or APY statement by simply downloading your APY Statement, with or without your Permanent Retirement Account Number or commonly known as PRAN. However, in both the options, you will need to provide your bank account number w.r.t. the account in which you’ve opened your APY account. Follow the steps as mentioned below to check your APY balance online with PRAN by downloading your APY statement:

If you prefer the traditional route of checking your APY balance offline, you can simply visit your bank or post office where you’ve linked your savings account with your APY account and ask for a passbook update. Doing so will get you a printed record of all the latest transactions made in your APY account as well as the updated balance of the same.

The prime benefits of APY include a guaranteed monthly income (min. pension amount of Rs 1,000-Rs 5,000 as per the eligibility) in old age for the participants, assistance in maintaining a dignified lifestyle, aid in coping with the rising cost of living, guaranteed minimum pension amount to spouse of the subscriber and return of accumulated pension amount to nominee in case of the death of the subscriber etc.