Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today asked Rural Development Minister Vatti Vasantha Kumar to give top priority to the Abhayahastham Programme and work on a mission-mode to implement the programme on schedule.
He wanted the Minister to guide the officers to work with zeal to make the programme a role model in the country.He also wanted the officials of the Rural Development Department and Special Officer Abhayahastham B Rajasekhar to speed up the preparatory works for handing over of individual policy to one crore women by November one, 2009.
The ’Abhayahastham’ is meant to give all the women SHG members life-long pension providing financial stability and security in old age.
Under the scheme, the contribution of the member and co-contribution of the government are periodically transferred to Life Insurance Corporation of India for investing diligently for securing better returns on the investment.
The corpus thus generated till the age of 60 years of the individual contributor will be used for giving monthly pension amount to each woman on her crossing 60 years.In order to secure reasonable level of monthly pension, the government has assured that every woman will receive Rs 500 or more every month, on crossing 60 years of age till her death.
A woman joining Abhayahastham at the age of 18 will be able to draw estimated amount of Rs 2,200 per month pension on crossing 60 years of age.In the event of her natural death, Rs 30,000 is paid to the nominee.
In the event of her accidental death, Rs 75,000 is paid to her nominee. On permanent disability, Rs 75,000 is paid to her. In case of partial disability, Rs 37,500 is paid to her.The government had made provision of Rs 365 crore in the 2009-10 Budget Estimates towards State Government’s Co-contribution and released first quarter amount of Rs 91.25 crore.
He wanted the Minister to guide the officers to work with zeal to make the programme a role model in the country.He also wanted the officials of the Rural Development Department and Special Officer Abhayahastham B Rajasekhar to speed up the preparatory works for handing over of individual policy to one crore women by November one, 2009.
The ’Abhayahastham’ is meant to give all the women SHG members life-long pension providing financial stability and security in old age.
Under the scheme, the contribution of the member and co-contribution of the government are periodically transferred to Life Insurance Corporation of India for investing diligently for securing better returns on the investment.
The corpus thus generated till the age of 60 years of the individual contributor will be used for giving monthly pension amount to each woman on her crossing 60 years.In order to secure reasonable level of monthly pension, the government has assured that every woman will receive Rs 500 or more every month, on crossing 60 years of age till her death.
A woman joining Abhayahastham at the age of 18 will be able to draw estimated amount of Rs 2,200 per month pension on crossing 60 years of age.In the event of her natural death, Rs 30,000 is paid to the nominee.
In the event of her accidental death, Rs 75,000 is paid to her nominee. On permanent disability, Rs 75,000 is paid to her. In case of partial disability, Rs 37,500 is paid to her.The government had made provision of Rs 365 crore in the 2009-10 Budget Estimates towards State Government’s Co-contribution and released first quarter amount of Rs 91.25 crore.
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