The government on Wednesday relaxed the age limit for senior citizens from the private sector to join the National Pension System from 60 to 65 years.
This means a higher number of Indian senior citizens can avail of the benefits of the system, which ensures a regular income and more savings.
The Centre said it increased the age limit as better healthcare facilities and fitness meant more people were living an active life and are employed productively till 60.
“Any Indian citizen, resident or non-resident, between the age of 60 and 65 years can join NPS and continue up to the age of 70 years in NPS,” the government’s Pension Fund Regulatory and Development Authority said.
There will be no difference in the benefits if a subscriber joins the system after turning 60, the government said.