Centre considering raise in pension age limit under Atal Pension Yojana
Updated : June 26, 2019 07:00 AM IST
The proposal, under the Atal Pension Yojana (APY), is being examined by the government, said Union Minister of Finance Corporate Affairs, Nirmala Sitharaman in a written reply to Parliament.
The APY is based on defined benefit for providing a guaranteed minimum monthly pension of Rs 1,000/Rs 2,000/Rs 3,000/Rs 4,000/Rs 5,000 at the age of 60 years based on the pension amount chosen.
In addition, the spouse gets a monthly pension after the death of the subscriber and the nominee gets the corpus amount of up to Rs 8.5 lakh in the event of the death of the subscriber and the spouse.