Social Security Schemes

More About Social Security Schemes

Features vary with different Social Security Schemes. Here are some of the details:

The Social Security Pension Scheme guarantees monthly pension starting at age 60.

You can start investing monthly, starting at just ₹42.

The scheme allows you to choose a pension amount ranging from ₹1,000 to ₹5,000.

This scheme helps you secure a life cover worth ₹2 lakh with an annual premium of just ₹436.

The PMSBY scheme offers coverage at just ₹20 annually.

The scheme offers accident insurance up to ₹2 lakh.

Some of the benefits of Social Security Schemes include:

Monetary Assistance

These schemes provide financial assistance to individuals who lack a steady income or have an inadequate income.

Old Age Income Security

Schemes like Atal Pension Yojana ensure a steady income after retirement, helping individuals maintain their standard of living.

Healthcare and Disability Insurance

Programs like ESI Scheme and PMJJBY provide healthcare and disability insurance, ensuring that individuals receive timely medical care and support in case of illness or injury.

Financial Inclusion

Social security schemes like Pradhan Mantri Jan Dhan Yojana aim to ensure financial inclusion by providing access to financial services and timely credit to low-income groups and weaker sections at an affordable cost.

Frequently Asked Questions

A Social Security Scheme is a government-run programme that provides financial support and benefits to individuals or families facing economic challenges due to old age, disability, unemployment, or the loss of a breadwinner. These schemes aim to ensure social welfare by offering regular payments or services to eligible beneficiaries.

In India, the Social Security Schemes cove various benefits, including pensions for elderly and disabled individuals, maternity benefits for women, and healthcare through different schemes.

Healthcare benefits under Social Security Schemes in India include access to subsidised or free medical treatment through schemes like Ayushman Bharat. The scheme provides cover for secondary and tertiary care hospitalisation. Apart from this, there is also the ESI Scheme administered by the Employees' State Insurance Corporation. This scheme facilitates social security and health insurance to industrial workers and their dependents, ensuring they receive adequate healthcare and financial support during times of need.