Govt. Likely to Make Some Changes in Atal Pension Yojana By Incresing Age Limit

Atal Pension Yojana
The Central Government is looking for some changes in Atal Pension Yojana by adding more slabs of guaranteed pension and raising the maximum age limit for entering the scheme to 50 years.

In present, the maximum guaranteed pension is Rs 5,000 per month. A government official said that all the suggestion are being deliberated. One is to add slabs in the minimum guaranteed pension amount. The highest slab could be up to Rs 10,000
The current maximum age of applying for the scheme is from 18 years to 40 years. The official said that this is also being looked at. He also added that higher contributions would be mandated for such subscribers that join the scheme at high ages
There will be three Slabs of Pension:
– According to the information, after the currency ban, the government may give a big relief to public. Under which the government plans to double the amount of pension may soon implement.
– Also, change in the maximum age in this scheme is also may be changed. Under which the government is looking for increase the age limit from 40 to 50 years.
– Significantly the pension scheme will be of three slabs.
– It is informed that after receiving feedback from many places, the government is considering this kind.
– However now the maximum pension limit of 5 thousand rupees which is quite low.
– If the range of pension will increase, it will be in three slabs of Rs 6, Rs 7,500 and Rs 10 thousand.
– In present, a pension of Rs 5000 is being given every month to the people having age more than 60 years.
News Source: http://economictimes.indiatimes.com/news/economy/policy/atal-pension-scheme-may-be-tweaked-maximum-entry-age-to-be-raised-to-50/articleshow/56430940.cms

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