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The "LIC's Bima Sakhi Yojana" [27] scheme is a significant program introduced by the Life Insurance Corporation of India (LIC) under the guidance of the Government of India [28]. The scheme was officially inaugurated by Prime Minister Narendra Modi [29] [30] [31] on December 9, 2024, in Panipat, Haryana. The program aims to empower women by ...
(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 3,77,00,000. [73] PM Suraksha ...
The Pension Parishad – an initiative to ensure universal pension to all workers in India – has been demanding that the Government of India establish a "non-contributory and universal old age pension system with a minimum amount of monthly pension not less than 50% of the minimum wage or ₹ 2,000 (US$24), whichever is higher." [51]
Pradhan Mantri Jeevan Jyoti Bima Yojana (Prime Minister Jeevan Jyoti Insurance Scheme) is a Government-backed Life insurance scheme in India. It was originally mentioned in the year 2015 Budget speech by the then- Finance Minister , late Arun Jaitley in February 2015. [ 1 ]
GIC acquired Jeevan Kendra that belonged to LIC and housed its Bombay Zonal Office. It was extensively renovated retaining its curved front and then gilded with panels of reflective glass. It has a circular atrium running the height of the building. This building was eventually named as 'Suraksha,' meaning protection.
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 ...
Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
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 ...