From Financialexpress · Vipul Das · · 1m 50s
Govt Renames Pension Schemes
Central government rebrands disability and widow pensions with new names and eligibility rules.
In brief
Central government rebrands disability and widow pensions with new names and eligibility rules. India's government renamed three pension schemes after Indira Gandhi, increasing disability eligibility to 40% and raising monthly assistance rates for beneficiaries. Originally reported by Financialexpress.
New pension scheme names
The Centre approved renaming the National Social Assistance Programme and its sub-schemes, including the Indira Gandhi National Old Age Pension Scheme as PM Vridhavastha Pension Yojana.
Indira Gandhi name removed
The previous prime minister Indira Gandhi's name has been removed from three sub-schemes, and the Union Cabinet authorized renaming it Pradhan Mantri Samajik Sahayata Yojana.
New scheme names
The Indira Gandhi National Old Age Pension Scheme is now known as PM Vridhavastha Pension Yojana, the Indira Gandhi National Widow Pension Scheme as PM Vidhawa Pension Yojana, and the Indira Gandhi National Disability Pension…
Beneficiaries impacted
This change will benefit 3.20 crore beneficiaries across all 36 States and Union Territories.
Divyangjan pension rates
The Divyangjan Pension Scheme now provides Rs. 375 for those aged 0 to 79 and Rs. 625 for those aged 80 and above.
Disability eligibility change
The scheme’s benchmark disability requirement is now 40% as opposed to the existing 80%, and the minimum age requirement is from birth.
Family benefit scheme
The National Family Benefit Scheme provides a one-time lump sum of Rs. 20,000 to affected families if the primary earner dies.
Pension rates for widows
Widows aged 40 to 79 receive Rs. 300 per month, and those 80 and older receive Rs. 500 per month under the widow pension scheme.
Pension rates for elderly
The elderly receive Rs. 200 per month for ages 60 to 79 and Rs. 500 per month for ages 80 and above under the old age pension scheme.
What it means
India's government renamed three pension schemes after Indira Gandhi, increasing disability eligibility to 40% and raising monthly assistance rates for beneficiaries.
