Pradhan Mantri Suraksha Bima Yojana & Atal Pension Yojana Launched

The Union Finance Minister, Shri Arun Jaitely presenting the Union Budget 2015-16, here today said that a large proportion of India's population is without insurance of any kind – health, accidental or life worryingly, as our young population ages, it is also going to be pension-less. Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana, the Finance Minister proposed to work towards creating a universal social security system for all Indians, specially the poor and the under-privileged.

Shri Jaitley said that soon Pradhan Mantri Suraksha Bima Yojana will be launched to cover accidental death risk of Rs. 2 lakh for a premium of just Rs. 12 per year. Similarly, we will also launch the Atal Pension Yojana, which will provide a defined pension, depending on the contribution, and its period. To encourage people to join this scheme, the Government will contribute 50% of the beneficiaries' premium limited to Rs. 1,000 each year, for five years, in the new accounts opened before 31st December, 2015.

Source : Equity Bulls

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