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Atal Pension Yojana (Atal Pension Scheme) CS MoF: 2015: Pension: Original form in 2010 as the Swavalamban Yojana. [72] A pension program that allows people to make voluntary contributions within a certain range with a matching government contribution to receive pension in the future. By September 2021, non-metros subscribers numbered 3,77,00 ...
In the unified pension system, a civil servant contributes 10% of their salary while the government contributes 18% each month on their behalf. After retirement, the civil servant receives 50% of their basic pay of the average of the last 12 months preceding retirement. The pension is indexed to inflation and increases every years. [14]
The Lakshmi Bai Pension Yojana [13] in Bihar covers all widows above 18 years of age whose annual family income is below ₹ 60,000 (US$700). Similarly, the Indira Gandhi National Disability Pension Scheme (IGNDPS) only covers individuals with more than 80% disability.
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private ...
The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who ...
Deen Dayal Upadhyaya Antyodaya Yojana or DDUAY is one of the Government of India scheme for helping the poor by providing skill training. It replaces Aajeevik. The Government of India has provisioned ₹ 500 crore (US$59 million) for the scheme. The objective of the scheme is to train 0.5 million people in urban areas per annum from 2016.
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The Union Parliament passed the IPRDA Interim Pension Fund Regulatory & Development Authority Bill in February 2003 as a Budget Announcement, approved by the then President of India, Dr. APJ Abdul Kalam. It was meant to be in place until the final and fool-proof system was prepared, re-approved, and implemented in a way acceptable to all ...