Taxpayers won’t be eligible for Atal Pension Scheme from Oct 1

Income-tax payers will not be allowed to enroll in the government’s pension security scheme Atal Pension Yojana (APY) from October 1.

“From October 1, any citizen who is or has been an income-tax payer, shall not be eligible to join APY,” the finance ministry said in the notification issued.

In a tweet, the department of financial services under the finance ministry, noted that the amendment in the scheme was done for better targeting of pension benefits to underserved section of population. “Effective in prospective manner from October 1, income-tax payer enrolled before October 1 to continue in the scheme,” it added.