Govt mulls raising pension limit up to ~10,000/month

The Centre is considering a proposal to raise the pension limit under At al Pension Yo jan a( AP Y) to up to ~10,000 per month, from the existing slab of up to ~5,000, said a top official on Tuesday. There is a need to increase the value of pension under APY, Madnesh Kumar Mishra, joint secretary, Department of Financial Services, said at a conference organised by the Pension Fund Regulatory and Development Authority (PF RD A ).“We have seen the proposal( sent by the PFRDA) of increasing the pension value to( up to) ~10,000 per month and it is under our active examination,” Mishra said. P FR DA Chairman Hem ant G Contractor said the proposal has been sent to the finance ministry with an aim to increase the subscriber base of APY.