What are Rashtriya Vayoshri Yojana, Swavalamban Scheme, and Atal Pension Yojana? (Download PDF)

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This Ministry of Social Justice and Empowerment is implementing a new scheme namely Rashtriya Vayoshri Yojana (RVY), which was announced by Finance Minister in the Budget Speech of 2015 - 16.

Image of Schemes of M/O SJ&E for Senior Citizens

Image of Schemes of M/O SJ&E for Senior Citizens

Image of Schemes of M/O SJ&E for Senior Citizens

Rashtriya Vayoshri Yojana (RVY)

  • Central Sector Scheme funded from Senior Citizens’ Welfare Fund.

  • Aids and assistive living devices will be provided to senior citizens belonging to BPL category suffering from age related disabilities such as low vision, hearing impairment, loss of teeth, loco-motor disabilities.

  • Ministry of Social Justice and Empowerment, Government of India is the nodal Ministry to oversee the implementation of the Scheme.

  • The Scheme is being implemented by the “Artificial Limbs Manufacturing Corporation (ALIMCO) ”- a Public Sector Undertaking under this Ministry.

  • The devices are distributed in the camp mode to the identified beneficiaries.

  • The National launch of Rashtriya Vayoshri Yojana was held on 1st April, 2017. A total of 187 districts from all States/UTs have been selected for Rashtriya Vayoshri Yojana distribution camps. As on date, 16 distribution camps have been organized at district level.

    Atal Pension Yojana (APY)

  • Another important scheme in this regard is Atal Pension Yojana (APY announced in 2015 guarantees a minimum pension from Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 on completion of 60 years of age based on the periodic contribution being made by the subscriber).

  • Contribution amount depends on scheme chosen by the subscriber and their age at the date of joining

  • The scheme is open for the Indian citizen between the age of 18 - 40 years and contribution has to be done till the age of 60 years.

  • The scheme has been implemented through the banking system only.

    Swavalamban Scheme

  • Eligible existing subscribers of the Swavalamban Scheme (NPS Lite) in the age group of 18 - 40 years are required to be migrated to APY unless they exercise the option to opt-out.

  • Swavalamban Scheme

    • Co-contributory Pension Scheme

    • Launched in September, 2010

    • Encouraged people from the unorganized sector to voluntarily save for their retirement.

    • Central Government contributes a sum of Rs. 1, 000 in each National Pension System (NPS) account opened under the Scheme where the subscriber is able to save Rs. 1, 000 to Rs. 12, 000 during a financial year.

    • The Government’s contribution is available upto Financial Year 2016 - 17.

    • The scheme is for those citizens of India who are not part of any statutory pension or provident scheme.

  • The target beneficiaries of Swavalamban Scheme are

    • Co-contributory scheme beneficiaries of State Governments

    • Aanganwaadi workers

    • Construction workers

    • Occupational classes like weavers, fishermen, farmers, dairy workers etc.

    • Managed by Pension Fund Regulatory & Development Authority (PFRDA) and financed through budgetary support by way of Grants-in- Aid to PFRDA.

    • Operates through 62 Aggregators and 71 PoPs.

- Published/Last Modified on: January 28, 2018

Govt. Schemes/Projects

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