Pension Schemes: Good News For Senior Citizens! Government launched many pension schemes for senior citizens, know all pension scheme details

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Pension Schemes: Good News For Senior Citizens! Government launched many pension schemes for senior citizens, know all pension scheme details
Government Scheme: The government is running several schemes for senior citizens, in which the benefits of pension, health care and retirement benefits are given. Most of the pension plans for senior citizens are considered to be the most effective. Regular income under these plans provides financial security in old age. Here is the information about the four pension schemes launched by the government.

national pension system

The National Pension System (NPS) is a savings and investment scheme for retirement launched by the Central Government. It is a long term savings scheme which gives market linked returns. This pension scheme is being operated by PFRDA. This can provide the benefit of both regular income in old age and more corpus after retirement. Under this scheme any citizen between 60 to 65 years can invest and can remain a member till the age of 70 years.

Indira Gandhi National Old Age Pension Scheme

Under this scheme, monthly pension is given to senior citizens. Senior Citizens 60 to 79 years of BPL category citizens can avail monthly pension. Under this, an amount of Rs 300 is given and on attaining the age of 80 years, an amount of Rs 500 is given.

Atal Pension Yojana

Under the Atal Pension Yojana, the benefit of pension is given to the poor families. Under this, a monthly pension of up to Rs 1,5000 is given. Citizens of India in the age group of 18 to 40 years can take advantage of this scheme.

Senior Pension Insurance Scheme

According to the website of the Department of Financial Services, the Senior Pension Insurance Scheme is administered by LIC. Under this, the benefit of monthly pension is given on your lump sum amount.

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