National Pension Scheme Upper Age Limit Raised to 65
Posted on:12 Sep 2017 10:29:36
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12 September 2017 Current Affairs: The Pension Fund Regulatory and Development Authority (PFRDA) announced that the upper age limit for joining the National Pension Scheme (NPS) had been raised to 65 years, from the current 60.
It is currently open for people between 18 and 60, and the Board has approved raising the age limit for joining to 65.
This aims to open up pensions to sectors without pensions.
Currently, only 15-16% of employees in India are covered by pensions because around 85% of the workforce is in the unorganized sector.
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