NPS – Timelines of contribution processing under APY (Atal Pension Yojana)

PFRDA has issued guidelines on Timelines of contribution processing under APY – (Atal Pension Yojana which was previously known as NPS Lite.

Pension Fund Regulatory & Development Authority has issued a Circular to all the Banks handling NPS scheme regarding Timelines of contribution processing under APY.

Pension Fund Regulatory & Development Authority
1st Floor, ICADR Building,
Plot No. 6, Vasant Kunj
Institutional Area, Phase – 11,
New Delhi – 110070
Tel: 011-26897948/26897949
Fax: 011-26897938


PFRDA/2015/20/ APY/1                                                                                Dated: 27.07.2015


All Banks (Public Sector Banks/Private Sector Banks/RRBs), (State Apex Cooperative Banks/Central Cooperative Banks, Rural/Urban Cooperative Banks Local Area Banks)

Subject: Timelines of contribution processing under APY.

This has reference to the processing of contribution for the subscribers registered under APY.

2. All the Banks are advised to generate the PRAN immediately after submission of applications and the subscribers are to be provided with the acknowledgement slip indicating the pension amount opted and PRAN.

3. The upload of files containing Subscribers’ records into CRA system and remittance of funds collected towards APY to Trustee Bank are to be completed by the banks on second day of PRAN generation.

Hence if ‘T’ being the day of PRAN generation, the upload of files and remittance of funds happen on T +1 day.

Timeline for performing the activities are as below:

Sl. no. Specified activity

Timelines (TAT)

1. Activation of PRAN*


2. Upload of SCF and transfer of funds to Trustee Bank



Upload Fund Receipt Confirmation (FRC) bv Trustee Bank



Contribution Matched & Booked (M&B) and Units’ are allotted


4. Under APY, the minimum pension amount is guaranteed by GOI on premise that contain parameters are met as per the guidelines of the scheme. Hence, timely remittance of funds and investment are crucial.

5. It was observed that during June 2015, there were several instances where these timelines were not adhered by the banks. It may be noted that, the delayed upload of contribution had also an adverse impact by way of overdue interest or increased monthly contribution for the subscribers due to change of age during the period of delay.

6. In view of the above, all Banks are advised to streamline the process of contribution upload as per timelines specified above. Any overdue interest or subscribers’ compensation due to delayed contribution processing may have to be borne by the concerned Bank.

All banks are advised to adhere to the timelines as specified above without fail in the interest of the subscribers.

Yours faithfully

(A.G. Das)
Chief General Manager

Download PFRDA Letter No.PFRDA/2015/20/ APY/1 dated 27.07.2015

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