World Senior Citizens Day: Special Pension Schemes for Senior Citizens

Atal Pension Yojana (APY)

– Government-sponsored scheme for all Indians – Aimed at the poor, underprivileged, and unorganized sector workers – Administered by PFRDA – Pension plans: Rs. 1000, 2000, 3000, 4000, and 5000 – Guaranteed payout at age 60

National Pension System (NPS)

– Popular voluntary-contribution-based pension scheme – Regulated by PFRDA – Offers diverse benefits to subscribers – Designed for post-retirement stability

LIC Pradhan Mantri Vaya Vandana Yojana

– For citizens above 60 years – Assured pension for 10 years – Flexible payout options: monthly, quarterly, half-yearly, annual – Policy term: 10 years – Empowering senior citizens financially

National Social Assistance Programme (NSAP)

– Supports BPL elderly, widows, and disabled individuals – Financial assistance: ₹200 to ₹500 per month – Lumpsum assistance of ₹20,000 upon breadwinner's death – Ensuring dignity and support for seniors

Indira Gandhi National Old Age Pension Scheme (IGNOAPS)

– Monthly pension of ₹200 for 60-79 year olds – Increased to ₹500 for those aged 80 and above – Benefiting BPL category seniors – Upholding the well-being of our elders

Varishtha Pension Bima Yojana (VPBY)

– Central-guaranteed pension scheme by LIC – Earn a fixed 9% per annum on lump sum deposits – Reliable financial security for elderly citizens – Ensuring a comfortable retired life