Important information for the elderly, follow these two rules to get pension on time – Variousinfo

Pension is an important financial support for senior citizens in India. Recently, the government has implemented some new rules for receiving pension. It is necessary to follow these rules so that the elderly can get their pension on time. In this article we will discuss these rules in detail and also tell how the elderly can ensure their pension by following these rules.

Pension schemes are an important social security measure for the elderly. These schemes provide them economic freedom and improve their quality of life. However, to receive pension, it is necessary to follow certain rules and procedures. Let us learn about these rules and procedures in detail.

Pension Plan Overview

New pension rules

The government has implemented two main rules for pension:

1. Additional pension based on age: Pensioners who have completed 80 years of age will get the benefit of additional pension. This rule is applicable for Central Government pensioners.
2. Life Certificate: It is mandatory to submit life certificate to receive pension. This certificate has to be submitted by 30th November every year.

Additional pension based on age

Provision for additional pension on the basis of age has been made for Central Government pensioners. This additional pension is given at the following rates:

• 80 to 85 years: Additional 20% of basic pension
• 85 to 90 years: Additional 30% of basic pension
• 90 to 95 years: Additional 40% of basic pension
• 95 to 100 years: Additional 50% of basic pension
• 100 years and above: 100% additional basic pension

This additional pension will be payable from the first day of the month in which the pensioner completes the prescribed age.2,

Mandatory life certificate

Life Certificate is an important document for pensioners. It certifies that the pensioner is alive and entitled to receive pension. It is mandatory to submit this certificate by 30th November every year7,

Process for submitting life certificate

1. Submit Online: Pensioners can submit their Life Certificate online. For this they can use Jeevan Pramaan portal.
2. Deposit in Bank: Pensioners can also deposit the life certificate by visiting their bank.
3. Home Service: Some banks and government agencies also provide the facility of submitting life certificate at home.
4. Digital Life Certificate: Aadhaar-based Digital Life Certificate can also be submitted.

Types of pension plans

There are different types of pension schemes in India. Some of the major schemes are as follows:

1. Indira Gandhi National Old Age Pension Scheme (IGNOAPS): This scheme is for citizens aged 60 years and above living below the poverty line.3,
2. Atal Pension Yojana (APY): This scheme is for workers in the unorganized sector that ensures a minimum pension after the age of 60 years.
3. Pradhan Mantri Shram Yogi Maan-Dhan Yojana: This scheme is for unorganized sector workers which provides monthly pension after the age of 60 years.
4. National Pension Scheme (NPS): It is a voluntary, defined contribution pension scheme available to government employees and private sector employees.

Benefits of pension plans

Pension plans provide a variety of benefits to the elderly:

1. Economic Security: Pension plans ensure economic security to the elderly by providing regular income.
2. Independence: Regular pension helps the elderly to remain financially independent.
3. Improves quality of life: The income received from pension helps the elderly to meet their basic needs and improve the quality of life.
4. Health Care: The income received from pension can be used to meet health care expenses.
5. Social Security: Pension schemes provide social security to the elderly and help them remain active members of society.

Eligibility Criteria for Pension Schemes

There are different eligibility criteria for different pension schemes. Some common criteria are as follows:

1. Age: The minimum age for most pension schemes is 60 years.
2. Economic Status: Many schemes are for people living below the poverty line.
3. Residence: The applicant must be a citizen of India and resident of the concerned state or territory.
4. Bank Account: It is necessary to have a valid bank account to receive pension.
5. Aadhar Card: Aadhar Card is mandatory for most of the schemes.

Pension application process

The process of applying for pension can be done in the following steps:

1. Fill the Form: Fill the application form for the respective pension scheme.
2. Submit Documents: Submit required documents like Aadhar Card, Income Certificate, Age Proof etc.
3. Submit Application: Submit the filled form and documents to the concerned office or online portal.
4. Check Application Status: Check the status of your application regularly.
5. Pension Approval: Once the application is approved, pension payment will start.

Disclaimer

This article is for informational purposes only. Although we have endeavored to provide accurate and up-to-date information, pension rules and schemes may change from time to time. Please contact relevant government departments or authorized sources for latest and accurate information. The author or publisher will not be responsible for any action taken based on the information given in this article.