Ahead of the national election, the central government is considering a proposal to raise the pension limit under Atal Pension Yojana (APY).
The limit might be raised to Rs 10,000 per month from the existing slab of up to Rs 5,000.
The Department of Financial Services opined that there is a serious need to increase the value of pension under APY.
Pension Fund Regulatory and Development Authority (PFRDA) officials also said the proposal has been sent to the finance ministry.
The five slabs currently prevailing includes from Rs 1,000-5000 per month.
PFRDA has sent two more proposals to the ministry – auto enrolment for APY and raising the maximum age bar to enter the scheme to up to 50 years.>