Janasuraksha Schemes

 Janasuraksha Schemes for All Departmental exams

Pradhan Mantri Suraksha Bima Yojna (PMSBY)

Any Postal Official (including GDS) can pursue either a depositor having Savings Account in any EDBO/SO/HO migrated to CBS Platform or any Indian Citizen who is ready to open a Savings Account in any such post office which is migrated to CBS, to fill Enrollment Form of Pradhan Mantri Suraksha Bima Yojna( PMSBY).

ð  The scheme will be a one year cover Personal Accident Insurance Scheme, renewable from year to year, offering protection against death or disability due to accident.

ð  Rs.2 lakhs is payable on a subscriber’s death due to accident.

ð  Premium payable is Rs.12/- per annum per member.

ð  The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment, as per the option to be given on enrolment. Members may also give one-time mandate for auto-debit every year till the scheme is in force, subject to re-calibration that may be deemed necessary on review of experience of the scheme from year to year.

ð  The scheme would be offered / administered through the Public Sector General Insurance Companies (PSGICs) and other General Insurance companies.

ð  All savings bank account holders in the age 18 to 70 years in participating banks will be entitled to join.

ð  The person would be eligible to join the scheme through one savings bank account only.

The accident cover of the member shall terminate / be restricted accordingly on any of the following events:

i. On attaining age 70 years (age neared birth day).                                                                                ii. Closure of account with the Bank or insufficiency of balance to keep the insurance in force.                                                                                                                                                                                    iii. In case a member is covered through more than one account and premium is received by the insurance company inadvertently, insurance cover will be restricted to one account and the premium shall be liable to be forfeited.

The benefits are as follows:

BENEFITS	SUM ASSURED
Death	Rs 2 lakhs
Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot	Rs 2 lakhs
Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot	Rs 1 lakh

 

·         Insurance Premium to PSGIC / other insurance company: Rs.10/- per annum per member.

·         Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.1/- per annum per member.

·         Reimbursement of Administrative expenses to participating Bank: Rs.1/- per annum per member.

Pradhan Mantri JeevanJyoti Bima Yojna (PMJJBY) 

Any Postal Official (including GDS) can pursue either a depositor having Savings Account in any EDBO/SO/HO migrated to CBS Platform or any Indian Citizen who is ready to open a Savings Account in any such post office which is migrated to CBS, to fill Enrollment Form of Pradhan Mantri JeevanJyoti Bima Yojna ( PMJJBY).

ð  The scheme will be a one year cover Term Life Insurance Scheme, renewable from year to year, offering life insurance cover for death due to any reason.

ð  Rs.2 lakhs is payable on a subscriber’s death due to any reason.

ð  The premium payable is Rs.330/- per annum per subscriber.

ð  The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment, as per the option to be given on enrolment. Members may also give one-time mandate for auto-debit every year till the scheme is in force, subject to re-calibration that may be deemed necessary on review of experience of the scheme from year to year.

ð  The scheme would be offered / administered through LIC and other Life Insurance companies.

ð  All savings bank account holders in the age 18 to 50 years in participating banks will be entitled to join.

ð  The person would be eligible to join the scheme through one savings bank account only.

The assurance on the life of the member shall terminate / be restricted accordingly on any of the following events:

i. On attaining age 55 years (age near birth day), subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).

ii. Closure of account with the Bank or insufficiency of balance to keep the insurance in force.

iii. In case a member is covered through more than one account and premium is received by LIC / insurance company inadvertently, insurance cover will be restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.

 

 

·          Insurance Premium to LIC /other insurance company: Rs.289/- per annum per member.

·          Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per annum per member.

·          Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member.

Atal Pension Yojna (APY)

Any individual or existing Swavalamban Yojana subscriber who has completed 18 Years of age and is below 40 Years of Age on the day of applying can open APY account in any authorized CBS Post Office.

A Pension provides people with a monthly income when they are no longer earning. Need for Pension:

·          Decreased income earning potential with age.

·           The rise of nuclear family-Migration of earning members.

·         Rise in cost of living.

·         Increased longevity.

·          Assured monthly income ensures dignified life in old age.

Atal Pension Yojana (APY), a pension scheme for citizens of India, is focused on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Any Citizen of India can join APY scheme. The following are the eligibility criteria:-

·          The age of the subscriber should be between 18 - 40 years. 

·         He / She should have a savings bank account/ post office savings bank account.

The contributions under APY are invested as per the investment guidelines prescribed by PFRDA for Central Government / State Government / NPS-Lite / Swavalamban Scheme / APY.

·         The savings bank account/ post office savings bank account is mandatory for joining APY.

·         The contributions can be made at monthly / quarterly / half yearly intervals through auto debit facility from savings bank account/ post office savings bank account of the subscriber.

·         A subscriber can open only one APY account and it is unique. Multiple accounts are not permitted.

The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, once a year. However, the switching option shall be available once in year during the month of April.

Under APY, the individual subscribers shall have an option to make the contribution on a monthly basis. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Rs. 1 per month to Rs 10/-per month as shown below:

•                                Rs. 1 per month for contribution upto Rs. 100 per month.

•                                Rs. 2 per month for contribution upto Rs. 101 to 500/- per month.

•                                Rs. 5 per month for contribution between Rs 501/- to 1000/- per month.

•                                Rs. 10 per month for contribution beyond Rs 1001/- per month.

 

The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.

·          

·         Exit before 60 years of age is generally not permitted, it may be permitted by PFRDA only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease etc., in-line with the provisions for pre-mature exit under NPS.

·         In case death of the subscriber The entire accumulated corpus under APY will be returned to the spouse / nominee. However, pension shall not be payable to the spouse / nominee.

Discontinuation of payments of contribution amount shall lead to following:

•                    After 6 months account will be frozen.

•                    After 12 months account will be deactivated.

•                    After 24 months account will be closed.

 

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