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Home > News > India News > Article > Pension yojana design best Nirmala Sitharaman rebuts Congress

Pension yojana design best; Nirmala Sitharaman rebuts Congress

Updated on: 27 March,2024 07:35 AM IST  |  New Delhi
Agencies |

Earlier, Congress attacked the government, alleging APY is a very poorly-designed scheme and a  paper tiger  that needs officials to hoodwink and coerce people into participating in it.

Pension yojana design best; Nirmala Sitharaman rebuts Congress

Nirmala Sitharaman

In a strong rebuttal to Congress charges, Finance Minister Nirmala Sitharaman said Atal Pension Yojana (APY) is designed based on the best practice choice architecture and guarantees a minimum of 8 per cent return.


“APY is designed based on best practice choice architecture to automatically continue the premium payment unless the subscriber opts out. This is a deliberate and beneficial feature which is in the best interest of the subscribers,” Sitharaman said in post on X.


Earlier, Congress attacked the government, alleging APY is a very poorly-designed scheme and a  paper tiger  that needs officials to hoodwink and coerce people into participating in it. Congress leader Jairam Ramesh said the scheme is a “fitting representation of the Modi government’s policy making: headline management, with few benefits actually reaching the people”.


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