Standard Operating Procedure for Financial/Non Financial Modifications in Atal Pension Yojana(APY) for Post Office User
(Version 1.2)
Introduction
Prime Minister’s social security scheme Atal Pension Yojana (APY) was launched in the year 2015. Solution is currently available for enrolment of new policy and data upload to respective Insurer. Currently there is no option for Financial /Non Financial Modifications, Voluntary Exit and Death Closures. Solution is provided for this modification. This document will detail the procedure to be followed in Post Office for Financial /Non Financial Modifications.
Non Financial Modifications
1. CAPY menu is to be used for performing below listed Non-Financial Modifications.
2. Non-financial modification is allowed only on Active / Verified Status APY policies.
3. Non-Financial Modifications can be done any time during the financial year.
4. Below listed non-financial modifications are allowed in APY
- PAN Card
- Spouse Name
- Change in Nomination
- Nominee DOB
- Subscriber name
- Address
- Modification/addition of mobile number
- Aadhar card update for subscriber / spouse
- E Mail id
- Gender
- Marital status – This will be automatically updated once Spouse Name field is updated
- Salutation (Mr/Ms/Mrs)
- Bank details
- Beneficiary flag
- Income tax flag (Should be Y only if PAN number is available)
5. If changes are done in CIF with respect to any of the above available fields through CMRC, same changes are to be done in CAPY menu if active APY policy is linked to the CIF. Warning message ‘APY policy linked to the CIF. Necessary modifications to be done in CAPY menu also’ will be thrown in CMRC.
6. Aadhar number modification is to be done only at CIF level. After updating in CMRC, user should invoke CAPY menu with Modify function and click on submit for updating Aaadhar from CIF to CAPY.
7. Validations are built to ensure PAN Number / Mobile Number entered in CAPY menu is the same as in CMRC.
8. Nodal Office Sansad Marg will download the file for modifications done and upload the same to NSDL the next day.
9. If due to any reason, non-financial modification is rejected at NSDL, Nodal Office Sansad Marg will capture the failure reason and update the same in REMARKS column of CAPY menu against respective APY Policy and changes made in CAPY should be reverted to old values
10. SOL user to check the REMARK column in CAPY after 3 days from date of Non-Financial modification to ensure that the modifications done are accepted by NSDL. If failure is recorded by Sansad Marg the modification made is to be reverted in CMRC.
Details to be provided to the customers
1. Bank Details are defaulted to POSB account linked with APY policy and amount due to customer on Voluntary exit / down gradation cases will be routed to POSB accounts only through NACH. Hence, IFSC Code of DOP and Chennai GPO details are defaulted and made as non-editable.
2. Customers may be guided to check their modification details through NSDL portal or through APY APP.
Pre-requisites for Financial Modification (Date of Birth / Frequency Change / Pension Upgrade /Downgrade)
1. Financial modification is not allowed after 25th of the month. If modifications are done after 25th, an error message “DOB modification / Financial modification not allowed after modification date set in CSSPM” will be thrown.
2. If any previous modifications are pending for updation at NSDL end, new modifications will not be accepted by NSDL. Hence, any modification is allowed only after 5 days from the date of previous modification.
3. Change in Date of Birth / Frequency /Pension Upgrade/ Downgrade is allowed only if premium collection is up-to date; if it is not recovered for current month, no change is accepted. Error message “Financial modification not allowed as collection is not upto date” will be thrown.
4. Contribution collected should be extracted by Nodal Office; no modification is allowed if extraction is not completed by Nodal Office. Error message “Financial modification is allowed only after extraction is done” will be thrown if data is not extracted by Nodal Office
5. Pension Upgrade / Downgrade is allowed only once in a financial year.
Change in Date Of Birth
1. Modification in date of birth of the policy holder is allowed anytime in a year. Change in DoB may result in increase / decrease in premium; so DoB change is a financial modification.
2. If date of birth or date of death is updated in CMRC for a CIF linked with active APY Policy, alert message “Pls modify Date of Birth/Date of Death in CAPY menu also as Active APY Policy is linked to the CIF.” will be displayed.
3. After updating DoB at CIF level, it must be updated in CAPY; validation is built to check DoB entered in CAPY is the same as the one available at CIF level.
4. Change in DoB may result in - No change in premium /Increase in premium/ Decrease in premium
5. Alert messages thrown for DoB change in CAPY are listed below:
a. Scenario - No change in Premium: “DOB of CIF is changed. Premium amount remains un-changed. Click on submit to proceed further.”
b. Scenario - Decrease in Premium amount: "DOB change results in decrease in premium amount. Differential amount from date of enrolment will be credited by NSDL. Click on SUBMIT to continue". In this case, the next contribution will be based on the reduced premium amount.
c. Scenario - Increase in Premium amount: “DOB change results in increase in premium amount. Differential amount from date of enrolment will be deducted from account.
Click on SUBMIT to continue.” In this case, the next contribution will be based on the increased premium amount. Remaining process of marking of lien and collection of differential amount will be followed as mentioned in Pension upgrade section.
Frequency Change
1. Change of frequency from higher to lower (Half yearly to Quarterly, Half yearly to Monthly, Quarterly to Monthly) is allowed anytime if premium is up-to date. For example, for a policy if frequency is to be changed from Half yearly to Monthly, then it can be changed anytime in the half year (From April to September / From October to March) after the premium for half year is deducted /extracted by Nodal Office.
2. Change of frequency from lower to higher is allowed in the last month of quarter (June / September / December / March) or half year (September / March) after the premium for quarter or half year is deducted /extracted by Nodal Office.
3. Change in frequency results in change in premium amount and the updated premium will be collected from the next due date.
Pension Downgrade
1. On downgrading the pension amount through CAPY, the premium amount will get reduced as per the table provided by NSDL.
2. Difference of amount from the date of enrolment till the date of last subscription will be credited by NSDL in the POSB account linked with APY through NACH.
3. Updated premium amount will get collected from next due date.
Pension Upgrade
1. On upgrading the pension amount through CAPY, the premium amount will get updated as per the table provided by NSDL.
2. Difference of amount from the date of enrolment till the date of last subscription along with penalty as prescribed by NSDL (shortfall amount) will be calculated during upgradation and it is allowed only if the customer’s account has sufficient balance for deducting the shortfall amount from the account.
3. If no sufficient balance is available, appropriate error message is thrown.
4. Once pension is upgraded, shortfall amount to be deducted from the customer’s account is marked as lien.
5. Lien will be marked with reason code APYU - APY Pension Upgrade. This system LIEN can be viewed in HALM against the linked SB account.
6. On submission of the file for pension upgradation to NSDL, response file provided by NSDL will be uploaded by Nodal office. Once this is done the Lien amount will be deducted from the customer’s account.
7. Updated premium amount will get collected from next due date.
Voluntary Exit
1. If the customer wants to withdraw from APY scheme, then PO user has to obtain the application for voluntary exit and cross-check all the details.
2. Status field in CAPY menu is to be changed to ‘Voluntary Exit’. A warning message “The PRAN number will be marked as Voluntary Exit. Do you want to Proceed?’ will be thrown. On clicking OK, status will be modified to Voluntary Exit.
3. Modifications are not allowed after the status of policy is changed to Voluntary Exit.
4. Status cannot be reverted to active once the status is changed to Death Closure.
5. After the file for voluntary exit is extracted and uploaded at NSDL by Nodal Office, NSDL will credit the amount in the POSB account linked with APY through NACH.
Death Closure
1. If claim form is submitted by nominee for APY policy, then SOL user has to obtain the application for death closure and all other requisite forms and cross-check all the details.
2. Status field in CAPY menu is to be changed to ‘Death Closure’ after updating the date of death at CIF level through CMRC; the message ‘The PRAN number will be marked as Closed. Do you want to Proceed?’ will be shown. On clicking OK, status will be modified to Death Closure.
3. Modifications are not allowed after the status of policy is changed to Death Closure.
4. Status cannot be reverted to active once the status is changed to Death Closure.
5. After updating in CAPY, forms should be sent to Nodal Office
6. Nodal office will submit claim to NSDL and NSDL will further process it.
Reports & Audit Inquiry
1. Report for Financial / Non-Financial /Voluntary Exit / Death Closure is available in HFINRPT. These modifications will be reflected in APY ENROLMENT SOL only. APY Enrolment SOL ID is displayed below NLOO number in CAPY menu.
2. All Financial / Non-Financial Modifications are updated in audit table and can be viewed using HAFI by giving the SB account number.
Account Closure
Validations are built in SB Closure menu HCAAC for not allowing closure of SB accounts which are linked with active APY policy.
CIF Merger
If an active APY policy is linked to an account, CIF merger is allowed only for Postmaster role users. In case of DOB mismatch error will be displayed
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