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Approval to operationalization of the Atal Pension Yojna (APY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Dated:- 7-5-2015 - The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi today approved the operationalisation of the Atal Pension Yojna (APY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY). Approval of the Cabinet was given to extend funding support for implementing the APY and apprise the Cabinet on operationalisation of the PMJJBY and the PMSBY. Approval was also given to provide ₹ 50 crore per annum for the next 5 yea .....

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₹ 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, that is, from 2015-16 to 2019-20, to those who join the NPS before 31st December, 2015 and who are not members of any statutory social security scheme and who are not Income Tax payers. The pension would also be available to the spouse on the death of the subscriber and thereafter, the pension corpus would be returned to the nominee. The minimum age of joining APY is 18 years and maximum age .....

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sability and ₹ 1 lakh for partial disability. The Scheme will be available to people in the age group 18 to 70 years with a bank account, from where the premium would be collected through the facility of auto-debit . Government expenditure is expected to range between ₹ 2,520 crore and ₹ 10,000 crore on account of Government co-contribution to subscribers of the APY over a period of five years. Further, an expenditure of ₹ 2,000 crore for promotional and developmental act .....

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