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Atal Pension Yojana (APY, translation: Atal's Pension Scheme), formerly known as Swavalamban Yojana (SY, translation: Self-Support Scheme), is a government-backed pension scheme in India, primarily targeted at the unorganised sector. It was mentioned in the year 2015 Budget speech by the Finance Minister Arun Jaitley. [1]
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 ...
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 ...
Pradhan Mantri Jan Dhan Yojana (transl. Prime Minister's Public Finance Scheme) is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions.
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$23), whichever is higher."
Pradhan Mantri Shram Yogi Maandhan is a social welfare scheme launched by the Ministry of Labour and Employment of the Government of India in February 2019 [1] for poor labourers in the unorganised sector from minimum 18 years of age to maximum 40 years. According to government figures, about 42 crore people in India are associated with the ...
The unified pension system is a pension system for civil servants in India, that replaces the defined-benefit, unfunded, Old Pension Scheme. In the unified pension system, a civil servant contributes 10% of their salary while the government contributes 18% each month on their behalf.
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 ...