INSUBCONTINENT EXCLUSIVE:
which the government is looking into.The proposal, under the Atal Pension Yojana (APY), is being examined by the government, said Union
Minister of Finance and 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.The scheme is available to account-holders between the age of 18 to 40 and offers a minimum guaranteed monthly pension of
between Rs 1,000 and Rs 5,000, depending on the customer's contribution which starts at as low as Rs 42 per month.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.As per the APY rules, from the age of 60 years, a subscriber would receive a minimum guaranteed
pension of Rs 1000-Rs 5000 per month, depending upon his contribution
The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and spouse, the accumulated pension
wealth is returned to the nominee.Get Breaking news, live coverage, and Latest News from India and around the world on
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