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The National Social Assistance Programme (NSAP) is a Centrally Sponsored Scheme of the Government of India that provides financial assistance to the elderly, widows and persons with disabilities in the form of social pensions. The NSAP scheme only includes Below Poverty Line individuals as beneficiaries.
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 ...
Bhamashah Yojana is a scheme introduced by the Government of Rajasthan to transfer financial and non-financial benefits of governmental schemes directly to women recipients in a transparent way. [ 1 ] [ 2 ] The scheme was inaugurated by Chief Minister Vasundhara Raje on 15 August 2014.
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. [15]
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 ...
Restoration of normal pension after completion of fifteen years from the date of such commutation, in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of the EPS, 1995, on or before 25.09.2008 vide notification G.S.R.132(E) dated 20.02.2020. [16]
Old Pension Scheme (OPS) in India was abolished as a part of pension reforms by Union Government.Repealed from 1 January 2004, it had a defined-benefit (DB) pension of half the Last Pay Drawn (LPD) at the time of retirement along with components like Dearness Allowances (DA) etc. OPS was an unfunded pension scheme financed on a pay-as-you-go (PAYG) basis in which current revenues of the ...
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 ...