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Jeevan Pramaan:
Jeevan Pramaan:
Jeevan Pramaan is Aadhaar based Digital Life Certificate for Pensioners. It was launched by Prime Minister Narendra Modi on 10 November 2014. It is expected to benefit over a crore pensioners. ... Jeevan Pramaan has been developed by the Department of Electronics and IT, Government of India. Jeevan Pramaan is a biometric enabled digital service for pensioners. Pensioners of Central Government, State Government or any other Government organization can take benefit of this facility.
National Pension Scheme:
NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account and also his employer can also co-contribute for the social security/welfare of the individual. NPS is designed on Defined contribution basis wherein the subscriber contributes to his / her account, there is no defined benefit that would be available at the time of exit from the system and the accumulated wealth depends on the contributions made and the income generated from investment of such wealth. The greater the value of the contributions made, the greater the investments achieved, the longer the term over which the fund accumulates and the lower the charges deducted, the larger would be the eventual benefit of the accumulated pension wealth likely to be .
(i) Aadhaar Card, (ii) PAN card with Savings account in one of the empanelled bank undertaking KYC verification online.
The following are the most prominent features of the retirement account under NPS
The following are the most prominent features of the retirement account under NPS
: (i) Every individual subscriber is issued a Permanent Retirement Account Number (PRAN) card and has a 12 digit unique number. In case of the card being lost or stolen, the same can be reprinted with additional charges. (ii) Under NPS account, two type of accounts – Tier I & II are provided. Tier I account is mandatory and the subscriber has option to opt for Tier II account opening and operation. The following are the salient features of the Tier-I and Tier-II accounts: Tier-I account: This is a restricted and conditional withdraw able retirement account which can be withdrawn only upon meeting the exit conditions prescribed under NPS. Tier-II account: This is a voluntary savings facility available as an add-on to any Tier-1 account holder. Subscribers will be free to withdraw their savings from this account whenever they wish.
At present, Subscriber has option to select any one of the following eight pension funds: ICICI Prudential Pension Fund LIC Pension Fund Ltd Kotak Mahindra Pension Fund Reliance Capital Pension Fund SBI Pension Fund UTI Retirement Solutions Pension Fund HDFC Pension Management Company Ltd Birla Sunlife Pension Management Ltd
Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM):
Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM):
Government of India has introduced a pension scheme for unorganized workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganized Workers. The unorganized workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Further, he/she should not be an income tax payer.
Features of PM-SYM: It is a voluntary and contributory pension scheme, under which the subscriber would receive the following benefits: (i) Minimum Assured Pension: Each subscriber under the PM-SYM, shall receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years. (ii) Family Pension: During the receipt of pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension. Family pension is applicable only to spouse. (iii) If a beneficiary has given regular contribution and died due to any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawa
Contribution by the Subscriber: PM-SYM is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the Central Government. For example, if a person enters the scheme at an age of 29 years, he is required to contribute Rs 100/ - per month till the age of 60 years an equal amount of Rs 100/- will be contributed by the Central Government.
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