Income tax payers will not be allowed to enrol in the government's social security scheme Atal Pension Yojana (APY) from October 1, according to a notification.
The government introduced APY on June 1, 2015, to provide social security to workers mainly in the unorganised sector. Subscribers of the scheme get a minimum guaranteed pension of ₹1,000 to ₹5,000 per month after attaining 60 years of age depending on their contributions.
"... from 1st October,2022, 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.
