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Atal Pension Yojana: The Indian government is preparing to give a big gift to the unorganized labourers. This means that the workers are likely to get huge benefits from this decision of the government. The Central Government is considering increasing the maximum limit of pension for such laborers under the Atal Pension Scheme. The government has taken this decision in view of rising inflation as well as increasing expenses after retirement. Which laborers will come under this scheme and what is the new proposal? Know everything here.

What’s in the new proposal?

Both the Finance Ministry and Pension Fund Regulatory and Development Authority (PFRDA) departments are working together on a new proposal for unorganized workers. According to which, it is expected that the maximum limit of Atal Pension Yojana can now be increased from Rs 5000 to Rs 10,000 per month. However, till now no official decision has been taken regarding this scheme.

Why is change necessary?

The objective of Atal Pension Yojana, started in 2015, is to provide financial security in old age. According to government rules, after the age of 60 years, a guaranteed pension of Rs 1000 to Rs 5000 is available. But inflation is increasing day by day. Due to which the pension received has started decreasing. This is the reason why the government is considering increasing the pension.

Who can avail the benefits of the scheme?

Not every laborer will get the benefit of this scheme. Only informal workers i.e. workers in the unorganized sector can avail the benefits of the scheme. Under this scheme, street vendors, domestic workers, laborers and people doing their own business are included.