Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
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Under APY, the subscribers would receive the fixed minimum pension of Rs.1000 per month, Rs 2000 per month, Rs 3000 per month, Rs. 4000 per month, Rs 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY.
Under APY Government would provide: Fixed pension guarantee for the subscribers; Would co-contribute 50% of the total contribution or Rs 1000 per annum, whichever is lower, to eligible subscribers; Would also reimburse the promotional and development activities including incentive to the contribution agencies to encourage people to join the APY.
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