Now, get pension in Atal Pension Yojna even after demise of original subscriber

Zee Media Bureau

New Delhi: In an eventuality of the subscriber's premature death, the spouse of the subscriber of Atal Pension Yojna can now continue to contribute for the balance period, till the original subscriber would have attained the age of 60 years.

Finance Ministry said on Tuesday that instead of the present provision of handing-over lump-sum amount to the spouse on the premature death before 60 years of the subscriber, the spouse of the subscriber will be allowed to continue contributing to APY account of the subscriber till the subscriber would have turned 60 years old.

The amendment in the pension yojna was done on the feedback received from subscribers.

Atal Pension Yojna offers guaranteed minimum monthly pension to the subscriber or or higher monthly pension, if the investment returns are higher than the assumed returns for minimum guaranteed pension, when he turns 60 years of age.