Government weighs doubling Atal Pension Yojana monthly limit to ₹10,000
Business
The government is thinking about raising the monthly pension limit under the Atal Pension Yojana (APY) from ₹5,000 to ₹10,000.
This move is meant to help informal sector workers keep up with rising costs and make the scheme more attractive, especially since a lot of people have stopped their contributions lately.
Union Cabinet extends APY until FY31
With nearly half of APY's 90 million subscribers dropping out, officials hope a higher pension will boost sign-ups and keep more people on board.
The government is considering stepping up outreach using pension sakhis and business correspondents for better access.
Plus, the Union Cabinet extended APY until FY31 to ensure steady support for these efforts and improve financial security for workers outside the formal job market.