3 social security schemes complete 8 years

• Atal Pension Yojana (APY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) have recently completed 8 years.
• All three are Central Sector Schemes and under purview of Ministry of Finance.

About Atal Pension Yojana

• APY which replaced Swavalamban scheme, aims to covers exigencies in old age.
• It provides minimum guaranteed pension for people in unorganized sector to all bank account holders in age group of 18 to 40 years.
• It’s administered by Pension Fund Regulatory and Development Authority (PFRDA) under National Pension System (NPS).
• Guaranteed monthly pension of Rs 1,000 (minimum) and its multiple upto Rs 5,000 /month after attaining age of 60 years, depending on contribution.
• Subscriptions-5 crore individuals till date.

Both PMJJBY and PMSBY aim to provide affordable insurance and security to people.

About Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

• 1 year life insurance scheme which is renewable every year.
• It offers Rs 2 Lakh life cover for death due to any reason with premium of Rs. 436/- per annum.
• Offered by Life Insurance Corporation(LIC).
• It is available to citizens, including NRIs aged of 18 to 50 years.
• Subject to annual renewal, benefits are available till age of 55
  • Entry to scheme is restricted at age of 50 years.
• Enrolments till date- 19 crore

About Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• 1 year accidental insurance scheme which is renewable every year.
• Offers protection against death or disability due to an accident.
  • 2 lakh for accidental death and permanent full disability.
  • 1 lakh for permanent partial disability.
• Offered through Public Sector General Insurance
• Available to citizens including NRIs, aged 18 to 70 years having a bank account.
• Premium payable- 20/- per annum per member.
• Enrolments till date- over 34.18 crore.