Pension Age for Poor Lowered to 60 Years

The government on Thursday lowered the age limit to 60 years for pension under the Indira Gandhi National Old Age Pension Scheme (IGNOAPS). This move would benefit an additional Rs.72.32 lakh poor in the age group of 60-64 years. The Union Cabinet chaired by Prime Minister Manmohan Singh also decided to increase the rate of pension to persons of 80 years and above from . 200 to . 500. The revised norms would be applicable from 1st of April this year and would require an additional Rs.2,770 crore for implementing the IGNOAPS. At present, 169 lakh persons above the age of 65 years and living below poverty line are receiving Central assistance under IGNOAPS. As a result of change in the eligibility criteria for receiving old age pension, eligibility criteria for widow pension under IGNWPS and disability pension under IGNDPS will get revised from 40-64 years to 40-59 years and from 18-64 years to 18-59 years respectively, the statement said. - www.economictimes.indiatimes.com