Details of the pension schemes being run by the Central Government

Details of the pension schemes being run by the Central Government

Under National Social Assistance Programme (NSAP) administered by Ministry of Rural Development, central assistance is provided only to old aged, widows, disabled persons and bereaved families on death of primary bread winner belonging to Below Poverty Line households irrespective of their caste category. The schemes are implemented both in urban and rural areas.

At present the scheme of NSAP comprises of 5 schemes applicable to BPL persons which are as follows:-

i. Indira Gandhi National Old Age Pension Scheme (IGNOAPS)

ii. Indira Gandhi National Widow Pension Scheme (IGNWPS)

iii. Indira Gandhi National Disability Pension Scheme (IGNDPS)

iv. National Family Benefit Pension (NFBS)

v. Annapurna Scheme.

The details of these 5 schemes along with the amount of assistance provided is enclosed as Annexure.

Assistance under the schemes of NSAP is provided to all persons who are Below Poverty Line including Scheduled Castes. The details of number of persons belonging to Scheduled Caste benefited under the schemes of NSAP is not available, as this information is not obtained/reported by States.

A Task Force constituted under the Chairmanship of Member Planning Commission, considered all the issues, demands and suggestions relating to social assistance/ security, received from various quarters and submitted its report in March, 2013, inter-alia, recommending expanding scope of coverage and increasing the quantum of pension. Further action has been initiated to process the recommendations of the Task Force.

ANNEXURE

Eligibility criteria and the amount of assistance underthe schemes of National Social Assistance Programme (NSAP)

Indira Gandhi National Old Age Pension Scheme (IGNOAPS): Central assistance of Rs. 200/- per month is provided to persons in the age group of 60-79 years and Rs. 500/- per month to persons of 80 years and above.

Indira Gandhi National Widow Pension Scheme (IGNWPS): Under the scheme, Central assistance @ Rs. 300/- per month is provided to widows in the age-group of 40-79 years. On reaching the age of 80 years, the beneficiary is shifted to IGNOAPS to get enhanced assistance of Rs.500/- per month.

Indira Gandhi National Disability Pension Scheme (IGNDPS): Under the scheme Central assistance @ Rs. 300/- per month is provided to persons aged 18-79 years with severe and multiple disabilities. On reaching the age of 80 years, the beneficiary is shifted to IGNOAPS to get enhanced assistance of Rs. 500/- per month.

National Family Benefit Scheme (NFBS): Under the scheme a BPL household is entitled to lump sum amount of money on the death of primary breadwinner aged between 18 and 59 years. The amount of assistance is Rs. 20,000/-

Annapurna: Under the scheme, 10 kg of food grains per month are provided free of cost to those senior citizens who, though eligible, are not receiving old age pension.

The above information was submitted as a written reply to a question in Parliament on 22nd July 2014 by the Minister of State for Social Justice and Empowerment Shri Sudarshan Bhagat.

Source: CGEN.in

National Pension System (NPS) - Abbreviations and Definitions

National Pension System (NPS) - Abbreviations and Definitions

Abbreviations and Definitions of National Pension System compiled here under for your information. The key words are frequently used among the employees working in Central and State Governments...

The following words and expressions shall have the meaning specified below, unless the context otherwise requires:

Abbreviations
ASP	Annuity Service Provider
CGMS	Centralised Grievance Management System
CRA	Central Recordkeeping Agency
DC	Defined Contribution
GRC	Grievance Redressal Cell
GRM	Grievance Redressal Mechanism
IMA	Investment Management Agreement
IPO	Initial Public Offer
KYC	Know your Customer
NPS	National Pension System
NRA	Normal Retirement Age
PFs/PFMs	Pension Funds/Pension Fund Managers
PFRDA	Pension Fund Regulatory and Development Authority
POP	Point of Presence
POP-SP	Point of Presence – Service Provider (Authorized branches of POP for NPS)
PRA	Permanent Retirement Account
PRAN	Permanent Retirement Account Number
TB	Trustee Bank
FEMA	Foreign Exchange Management Act

Definitions
Applicable NAV	Unless stated otherwise in the Offer Document, 'Applicable NAV' is the Net Asset Value at the close of a Working Day.
Applicant	An individual who has expressed interest in joining NPS and has duly completed all formalities.
Custodian	Agency responsible for holding assets of the NPS Trust. Refers to the Stockholding Corporation of India Limited (SHCIL)
IMA	Investment Management Agreement, entered into between NPS Trust and the Pension Funds.
Offer Document	This document, issued by PFRDA, making an offer to potential applicants to subscribe to NPS.
RBI	Reserve Bank of India, established under the Reserve Bank of India Act, 1934.
Subscriber	An individual who has become a member of the NPS
Unit holder	Subscriber is also referred to as unit holder with respect to the units he/she owns.
Trust Deed	The Trust Deed entered into between the NPS Trust and PFRDA, as amended up to date, or as may be amended from time to time.
Trust Fund	The corpus of the Trust and all property belonging to and/or vested in the Trustees.
Working Day	A day other than any of the following (i) Saturday or Sunday; (ii) a day on which banks including the Reserve Bank of India are closed for business or clearing and (iii) a day on which the Purchase and Redemption of Units is suspended.

Source: http://90paisa.blogspot.in/2013/12/national-pension-system-nps.html