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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
PM Launches Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana
May 11, 2015

The Prime Minister Narendra Modi launched three ambitious Social Security Schemes pertaining to the insurance and pension sector on 9th May in Kolkata. This would be a path breaking initiative towards providing affordable universal access to essential social security protection in a convenient manner linked to auto-debit facility from the bank account of the subscriber.

♦ The Atal Pension Yojana (APY) would address old age income security needs. The convenient delivery mechanism of the schemes is expected to address the situation of very low coverage of life/accident insurance and old age income security products in the country.

♦The two insurance schemes—Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) would provide insurance cover in the unfortunate event of death by any cause/death or disability due to an accident respectively.

Atal Pensin Yojna (APY)

  • Under the APY, subscribers would receive a fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.

  • The Central Government would also co-contribute 50 percent of the total contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, that is, from 2015-16 to 2019-20, to those who join the NPS before 31st December, 2015 and who are not members of any statutory social security scheme and who are not Income Tax payers.

  • The pension would also be available to the spouse on the death of the subscriber and thereafter, the pension corpus would be returned to the nominee.

  • The minimum age of joining APY is 18 years and maximum age is 40 years.

  • The benefit of fixed minimum pension would be guaranteed by the Government. 

Government expenditure is expected to range between Rs. 2,520 crore and Rs. 10,000 crore on account of Government co-contribution to subscribers of the APY over a period of five years.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

  • Under PMJJBY, annual life insurance of Rs. 2 lakh would be available on the payment of premium of Rs. 330 per annum by the subscribers.

  • The PMJJBY is available to people in the age group of 18 to 50 years having a bank account.

  • People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 subject to payment of premium.

  • Premium Rs 330 per annum.

  • The payment of premium will be directly auto debited by the bank from a subscriber’s account.

  • A person has to opt for the scheme every year.

  • He can also prefer to give a long-term option of continuing, in which case his account will be auto debited every year by the bank.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

  • Premium Rs 12 per annum. The premium will be directly auto debited by the bank from a subscriber’s account. This is the only mode available.

  • For risk coverage a person has to opt for the scheme every year.

  • Under this schemethe risk coverage will be Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

  • The Scheme is available to people in the age group 18 to 70 years with a bank account, from where the premium would be collected through the facility of auto-debit.


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