Press Information Bureau
Government of India
Ministry of Labour & Employment
06-August-2015 17:21 IST
The Government through the Budget Speech, 2015 announced three Social Security Schemes pertaining to the Insurance and Pension Sectors, namely Pradhan Mantri JeevanJyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Atal Pension Yojana (APY) to move towards creating a universal social security system, focused especially at the poor and the under-privileged. The schemes provide essential and affordable social protection to all citizens in a convenient manner linked to auto-debit facility from bank accounts. These schemes are expected to address the issue of low coverage of life and accident insurance and old age income security in the country.
PMJJBY offers a renewable one year life cover of Rs 2 lakh to subscribing bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber.
PMSBY offers a renewable one year personal accidental death-cum-disability cover to subscribing bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber. In this scheme Rs. 2 Lakh is payable on death or permanent total disability and Rs. 1 Lakh on permanent partial disability. Atal Pension Yojana: Under the APY, the subscribers would receive the guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY. APY is open to all account holders in the age group of 18 to 40 years.
To create awareness regarding the schemes an exclusive website www.jansuraksha.gov.in has been created by Department of Financial Services, Ministry of Finance which hosts all relevant material / information, including forms, rules etc. related to these schemes.
This was stated by Shri Bandaru Dattatreya, the Minister of State(IC) for Labour and Employment in response to a written question in Rajya Sabha yesterday.
