SSC CGL - Detailed Guide 2025
Self-Paced Course
Pension and Insurance Schemes
Government initiatives for financial security and risk coverage
1. Atal Pension Yojana (APY)
| Feature | Details |
|---|---|
| Objective | Provide guaranteed pension to workers in the unorganized sector |
| Pension Amount | ₹1,000 to ₹5,000/month (based on contribution and age) |
| Eligibility | Citizens aged 18–40 years (account matures at 60 years) |
| Contribution Mode | Auto-debit from savings account |
| Government Contribution | Co-contribution for eligible subscribers (initially for 5 years) |
| Administered By | Pension Fund Regulatory and Development Authority (PFRDA) |
| Launch Year | 2015 |
SSC Tip: APY = Unorganized sector pension = ₹1,000-5,000/month = PFRDA = Auto-debit
2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)
| Feature | Details |
|---|---|
| Objective | Provide affordable accidental insurance cover |
| Coverage | ₹2 lakh for accidental death or total
disability ₹1 lakh for partial disability |
| Premium | ₹12/year (auto-debited annually from bank account) |
| Age Eligibility | 18 to 70 years |
| Linked With | Jan Dhan Yojana or other savings accounts |
| Implementing Agencies | Public and private sector general insurance companies |
| Launch Year | 2015 |
SSC Tip: PMSBY = ₹12/year = Accidental insurance = ₹2 lakh coverage = Linked to bank accounts
3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
| Feature | Details |
|---|---|
| Objective | Provide low-cost life insurance cover |
| Coverage | ₹2 lakh on death (any reason) |
| Premium | ₹330/year (auto-debited from bank account) |
| Age Eligibility | 18 to 50 years (coverage up to 55 years if enrolled earlier) |
| Policy Term | 1 year; renewable annually |
| Implementing Agencies | Public and private life insurance companies |
| Launch Year | 2015 |
SSC Tip: PMJJBY = ₹330/year = Life insurance = ₹2 lakh coverage = Renewable annually
4. PM Vaya Vandana Yojana (PMVVY)
| Feature | Details |
|---|---|
| Objective | Provide regular pension to senior citizens |
| Eligibility | Indian citizens aged 60 years and above |
| Pension Mode | Monthly, quarterly, half-yearly, or yearly |
| Pension Ceiling | Maximum pension of ₹10,000/month (as per investment limit) |
| Return Guarantee | Fixed return (declared annually, ~7–8% earlier) |
| Investment Limit | ₹15 lakh per senior citizen |
| Implemented By | Life Insurance Corporation of India (LIC) |
| Launch Year | 2017 (extended till March 2023 under revised terms) |
SSC Tip: PMVVY = Senior citizen pension = ₹10,000/month max = LIC implementation = Fixed returns
Quick Comparison Table
| Scheme | Launch Year | Key Benefit | Target Group |
|---|---|---|---|
| APY | 2015 | ₹1,000-5,000/month pension | Unorganized sector (18-40 years) |
| PMSBY | 2015 | ₹2 lakh accidental cover | All citizens (18-70 years) |
| PMJJBY | 2015 | ₹2 lakh life cover | Adults (18-50 years) |
| PMVVY | 2017 | ₹10,000/month max pension | Senior citizens (60+ years) |
Developed By Satyam Kumar
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