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04-Jul-2017 14:51

The scheme is backed by Ministry of Finance, Government of India.The scheme would mostly touch those working under unorganized sector.The premiums to the pension account would be paid through your bank account and it would be auto-debited from the bank account.

However, any member of a statutory social security scheme is not eligible to get the governments contribution for this pension scheme. If your age is 40 Years then you are eligible but if you are 40 years and 1 day then you are not eligible.And our family and friends back home experienced similar feelings for us during our tour.