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    how much incentive is given to the employee bringing the apy application

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    Banks to get Rs.100 per application to distribute Atal Pension Yojana

    Banks can appoint IFAs to distribute APY on 50:50 sharing model.

    MF News Banks to get Rs.100 per application to distribute Atal Pension Yojana

    Banks to get Rs.100 per application to distribute Atal Pension Yojana

    Banks can appoint IFAs to distribute APY on 50:50 sharing model.

    Team Cafemutual May 27, 2015

    PFRDA has released a commission structure for banks to distribute Atal Pension Yojana (APY).  Banks will get a minimum commission of Rs.100 each application. Further, banks will get a promotional incentive of a minimum of Rs.20 to distribute such schemes.

    Banks can also appoint mutual fund distributors to distribute this scheme. They will have to share 50% percent commission with such distributors.

    In a circular, the pension fund regulator said that per capita incentive to distribute APY is fixed at Rs.100. Per capita incentive means commission per application. Apart from this, banks will also get promotional incentives which increase with the number of schemes sold. PFRDA has fixed a promotional incentive of Rs. 20 for first 1 lakh applications. Similarly, it is Rs.30 for 1-3 lakh applications, Rs.40 for 3-5 lakh applications and Rs. 50 for over 5 lakh applications.

    The APY is a defined contribution plan which provides monthly life annuity along with return of maturity corpus to its subscribers. Subscribers can opt for a fixed monthly pension of Rs.1,000, Rs.2,000, Rs.3,000, Rs.4,000 and Rs.5,000 per month. Government will contribute 50% of the contribution or Rs.1,000 whichever is lower for the first five years to the subscriber’s account joining before December 31, 2015. PFRDA has been appointed to oversee this scheme which is more or less in line with the NPS Swavalamban scheme.

    A rough calculation of a 25 year old subscriber who opts the pension of Rs.1,000 with return of maturity corpus shows that the scheme gives a return of 8.16% during accrual phase and 7.33% on disbursal phase (life expectancy 80 years or 20 years post retirement).

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    स्रोत : cafemutual.com

    Incentive for mobilization and registration of subscribers under Atal Pension Yojana

    No. PFRDAIAPY/4/62

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    HomeBank

    Incentive for mobilization and registration of subscribers under Atal Pension Yojana

    Kiran Kumari 0 May 21, 2015 1:51 am

    Incentive for mobilization and registration of subscribers under Atal Pension Yojana: PFRDA Order

    PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

    1st Floor, ICADR Building, Plot No. 6.

    Vasant Kunj Institutional Area,

    Phase – II, New Delhi – 110070

    No. PFRDAIAPY/4/62 19th May, 2015 To, All Banks under APY Sir,

    Subject: Incentive for mobilization and registration of subscribers under Atal Pension Yojana.

    I am directed to say that incentive structure for Banks to mobilize and register subscriber under Atal Pension Yojana has been under the consideration of PFRDA.

    2. In consultation with the Department of Financial Services, Ministry of Finance, it has been decided that for mobilizing each account the Banks will be paid an incentive as per the table below:

    i. Per capita incentive at Rs 100

    ii. Incentive payable for promotion and development of APY:

    S no Number of subscribers under APY with each

    Bank Incentive for promotional efforts (only

    for new accounts opened during the year)

    1  Less than 1 lakh Rs 20/-

    2 More than 1 lakh upto 3 lakh Rs 30/-

    3 More than 3 lakh upto 5 lakh Rs 40/-

    4 More than 5 lakh Rs 50/-

    As Banks are expected to engage the Banking Correspondents (BCs) / Micro Finance Institutions (MFIs) / Non-bank aggregators to mobilize the subscribers, they can Share the incentives with such BCs / MFIs / Non-bank aggregators etc. in the ratio 50:50 :: Banks : BCs/MFIs/ Non-bank aggregators.

    3. Banks are advised to contact aggregators for shifting of existing eligible Swavalamban subscribers to APY as per the scheme.

    4. Payment of incentives to banks each year will be made after the completion of the financial year on receipt of funds from the government.

    Yours sincerely, (Purnima Sharma) Dy. General Manager

    Source: http://pfrda.org.in/WriteReadData/Links/Incentive%20Structure%20for%20APY5c598c21-5021-481a-8866-16213d2d1343.pdf

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    Incentive structure for Atal Pension Yojana (APY)

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    ATAL PENSION YOJANA Incentive structure for Atal Pension Yojana (APY)

    Incentive structure for Atal Pension Yojana (APY)

    By ADMIN On October 03, 2016

    COLLECTION OF REGISTRATION FORMS FROM POSB CUSTOMERS

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    Anonymous June 13, 2016 at 4:43 PM

    incentive to be drawn on which head

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