The central government keeps on launching several schemes from time to time for the economic stability of its citizens. Similarly, the government provides many pension schemes for the financial security of the senior citizens of the country.
special pension schemes: The central government keeps launching many schemes from time to time for the economic stability of its citizens. In this series, the government provides several pension schemes for the financial security of the senior citizens of the country. Retired senior citizen customers also get the benefit of this scheme. Let us know in detail about some special pension schemes of the Central Government on this occasion.
Atal Pension Yojana
The Government of India launched this scheme in the year 2015 for the financial security of all Indians, especially the poor and the underprivileged. Under this scheme, any person from 18 years to 40 years can deposit his money. On completion of 60 years, people get an amount of Rs 1,000 to Rs 5,000 as pension.
National Pension System
Under the National Pension Scheme, any Indian citizen can deposit money from the age of 18 years to 70 years. On completion of 60 years of age, the person gets the facility of lump sum cash and monthly pension. Under this scheme, there is a facility of monthly pension up to Rs 10,000.
National Social Assistance Program
Under the Central Government’s National Social Assistant Program scheme, financial assistance ranging from Rs 200 to Rs 500 per month is provided to senior citizens and persons with disabilities who fall below the poverty line. Apart from this, in case of death of a person under this scheme, a one-time assistance of Rs 20,000 is given to the family.
Indira Gandhi National Old Age Pension Scheme
Under this scheme sponsored by the central government, a monthly pension of Rs 200 is given to senior citizen customers of BPL category from 7 years to 79 years. While on completion of 80 years, the pension is increased to Rs.500 per month.
Senior Pension Insurance Scheme
Varishtha Pension Bima Yojana is a centrally guaranteed pension scheme for elderly Indian citizens operated by the Life Insurance Corporation of India (LIC). According to the government, the VPBY scheme will provide a guaranteed rate of return of 9 per cent per annum on lump sum deposits to the customers.
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