Central govt schemes: There are some special schemes being implemented by the Modi government at the center, so that you do not have to worry about money even in old age. The govt. has made very special arrangements for the poor people of the country, farmers and senior citizens. So they can live easily life. 

Today we are going to tell you about 4 Government schemes, in which you will get good money after investing and you also need not to worry even.

 

  1. Atal Pension Scheme

An Inian citizen can invest in APY Scheme and for that a person must have their own bank account. 

 

Eligibility

• APY is applicable to all citizen of India aged between
18-40 years.

• Aadhaar will be the primary KYC. Aadhar and mobile
number are recommended to be obtained from
subscribers for the ease of operation of the scheme. If
not available at the time of registration, Aadhar details may also be submitted later stage.

 

Benifits

• Under the APY, there is guaranteed minimum monthly
pension for the subscribers ranging between Rs. 1000
and Rs. 5000 per month.

• The benefit of minimum pension would be guaranteed
by the GoI.

• GoI will also co-contribute 50% of the subscriber’s
contribution or Rs. 1000 per annum, whichever is lower.
Government co-contribution is available for those who
are not covered by any Statutory Social Security
Schemes and is not income tax payer.

• GoI will co-contribute to each eligible subscriber, for
a period of 5 years who joins the scheme between the
period 1st June, 2015 to 31st December, 2015. The
benefit of five years of government Co-contribution
under APY would not exceed 5 years for all subscribers
including migrated Swavalamban beneficiaries.

Prime Minister Shram Yogi Mandhan Yojana: 

Pradhan Mantri Shram Yogi Maandhan (PM-SYM), which was launched in 2019, is a government scheme that caters to old age protection and social security of unorganised workers. The scheme provides subscribers with a minimum assured pension of ₹3000 per month after the age of 60 years. The scheme requires subscribers to make monthly contributions in the range of ₹55 to ₹200 per month till the age of 60 years.

What are the eligibility criteria for enrollment?

The scheme is for unorganised workers and has an entry age between 18 to 40 years. The applicant for the scheme must have a monthly income of ₹15,000 or less and should not be an income tax payee. Additionally, the applicant should not be enrolled in schemes like the National Pension Scheme, the Employees’ State Insurance Corp scheme, or the Employees’ Provident Fund scheme.

How does the scheme work?

The scheme is voluntary in nature and works on contributions made by the subscribers, which are matched with the contributions from the government on a 50:50 basis. These contributions become higher with the age of the subscribers and the contribution amount for the first month is paid in cash for which the subscriber is also provided with a receipt. Cards with unique ID numbers are issued to all subscribers of the scheme.

How to enrol for the scheme?

After checking the eligibility criteria, subscribers can enrol for the scheme by visiting the nearest common service centres (CSCs). According to the government, enrollment services for this scheme are being provided at more than 300,000 CSCs across the country.

What are the documents required for enrollment?

To enrol for the scheme, the subscriber requires a savings bank account or Jan Dhan account. Aadhaar card is also mandatory for this scheme.

 

Prime Minister’s Kisan Mandhan Yojna 

Pradhan Mantri Kisan Maandhan Yojana is a government scheme meant for old age protection and social security of Small and Marginal Farmers (SMF). All Small and Marginal Farmers having cultivable landholding up to 2 hectares falling in the age group of 18 to 40 years, whose names appear in the land records of States/UTs as on 01.08.2019 are eligible to get benefit under the Scheme.

Under this scheme, the farmers would receive a minimum assured pension of Rs 3000/- per month after attaining the age of 60 years and if the farmer dies, the spouse of the farmer shall be entitled to receive 50% of the pension as family pension. Family pension is applicable only to spouse.

  • On the maturity of the scheme, an individual will be entitled to obtain a monthly pension of Rs. 3000/-. The pension amount helps pension holders to aid their financial requirements.
  • The applicants between the age group of 18 to 40 years will have to make monthly contributions ranging between Rs 55 to Rs 200 per month till they attain the age of 60.
  • Once the applicant attains the age of 60, he/ she can claim the pension amount. Every month a fixed pension amount gets deposited in the pension account of the respective individual.

Eligibility Criteria

  • For Small and Marginal Farmers
  • Entry age between 18 to 40 years
  • Cultivable land up to 2 hectares as per land records of the concerned State/UT

 

Pradhan Mantri Laghu Vyapari Mandhan Yojna: PM Modi launched this scheme in September 2019 in Jharkhand itself. This is mainly a pension scheme for small businesses. It is an initiative to provide social security to small businesses, under which they are given a mass after the age of 60.