Can be eligible for pension even at the age of 70
Senior citizen is going to get very good news. The government is making a special plan for the elderly. If the government announces this, then you can be eligible for pension even at the age of 70 years.
Know what is the plan?
The Pension Fund Regulatory and Development Authority (PFRDA) has sought its permission by sending a proposal to the government. The regulator has said that the maximum age limit for opening NPS account should be increased from the current 65 years to 70 years. The PFRDA has also included in the proposal that if a person joins the NPS after the age of 60, then he / she should be allowed to run the account till the age of 75 and get the return.
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Authority chairman Supratim Bandhopadhyay has said that in the last 3.5 years, 15 thousand people above 60 years of age have opened an NPS account. In view of this, a maximum age limit of 5 years has been proposed to be included in the scheme.
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What is the pension age in NPS
Pension is fixed on the basis of the amount deposited in the NPS till the age of 60 years whereas in APY the pension is fixed between Rs 1,000 and Rs 5,000. How much pension will be made will depend on the amount you accumulate every month.