Transcript Pension - Karmayog

Old age Pension in India
• National Social Assistance Programme (NSAP) 15th
August, 1995:
 Indira Gandhi National Old Age Pension (IGNOAPS)
 Sanjay Gandhi Niradhar Anudan Yojana -Maharashtra
 Indira Gandhi Bhumihin Vrudh Sheth-Majdoor Sahayay
Yojana -Maharashtra
 National Family Benefit Scheme(NFBS)
 Annapurna Scheme
 New Pension System (NPS) 2009
Some State Pension plan are addition to it or part of it
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Indira Gandhi National Old Age Pension
(IGNOAPS)
• The central contribution of pension under the
Indira Gandhi National Old
• Age Pension Scheme (IGNOAPS) is Rs. 200/per month per beneficiary and the
• State Governments may contribute over and
above to this amount. At present old
• Age beneficiaries are getting anywhere
between Rs. 200/- to Rs. 1000/• Depending on the State Contribution.
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Sanjay Gandhi Niradhar Anudan Yojana
• An individual (female 60 years or above and
males 65 years or above) can get Rs 100 per
month if he/she has no source of income. If a
woman is a widow and has one or more
children below 18 years then she is eligible for
a pension of Rs 250 per month.
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Indira Gandhi Bhumihin Vrudh ShethMajdoor Sahayay Yojana
• An individual (female 60 years or above and
male 65 years or above) gets Rs 100 per
month. The beneficiary of this scheme must
be a destitute and from a rural area.
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National Family Benefit Scheme(NFBS)
• Central Assistance is given in the form of lumpsum
family benefit for households below the poverty line
on the death of the primary breadwinner in the
bereaved family.
• The amount of benefit is Rs.10000/- in case of death
of primary breadwinner due to natural or accidental
causes. The family benefit is paid to such surviving
member of the household of the deceased who,
after local enquiry is determined to be the head of
the household.
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Annapurna Scheme
• Annapurna Scheme w.e.f.1.4.2000
• This scheme aimed at providing food security
to meet the requirement of those senior
citizens who, though eligible, have remained
uncovered under the NOAPS. Under the
Annapurna Scheme 10 kgs of food grains per
month are provided free of cost to the
beneficiary.
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New Pension System (NPS) 2009
• PFRDA (Pension Fund Regulatory and Development
Authority), India has opened New Pension Scheme
(NPS) to all Indian citizens starting on 1st May, 2009.
• PFRDA was established by the Government of India
to promote old age income security by establishing,
developing and regulating pension funds, to protect
the interests of subscribers to schemes of pension
funds.
• This will benefit unorganized sector
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Contd . New Pension System
• Any Indian citizen will be able to start a New Pension
Scheme account and can start investing any amount
up for a pension.
• Under this scheme, an investor can deposit their
contributions in Bank Branches and Post offices all
over the country.
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Contd . New Pension System
• Unlike EPF (employee provident fund schemes),
there will be only one number allotted to each
investor, In case of change of job or location of job, it
can be easily transferred to another branch. Each
Investor will be allotted a unique 16 digit Permanent
Pension Account Number (PPAN) it will valid for life
like current PAN number. There will be no need to
open a new account every time you change job or
location unlike the current EPF (Employee Provident
Fund)
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Contd . New Pension System
• In starting, there will be 23 Points of Presence (POP) including
PSU banks and post offices, and they will be provide account
opening and other transactions facility. Following is the
participating POP list: Allahabad Bank, Axis Bank, Bajaj Allianz
General Insurance Co, Central Bank of India, Citibank, CAMS
(Computer Age Management Services), ICICI Bank, IDBI Bank,
IL&FS Securities, Kotak Mahindra Bank, LIC (Life Insurance
Corporation of India), Oriental Bank of Commerce, Reliance
Capital, State Bank of Bikaner & Jaipur, State Bank of
Hyderabad, SBI (State Bank of India), State Bank of Indore,
State Bank of Mysore, State Bank of Patiala, State Bank of
Travancore, South Indian Bank, Union Bank of India, UTI.
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