Karmchari Pension Yojana 2023
Introduction
The Karmchari Pension Yojana aims to provide a minimum basic income support to adults (18-65 years of age) without any disability or illness. The scheme is in two parts – a contributory part and a non-contributory part. The contributory part will start from 1 April 2023 and succeed the existing Rashtriya Swasthya Bima Yojana (RSBY). Eligible applicants are identified by the Aadhaar number or equivalent identification number issued by UIDAI while they apply online at http://www.mykarmchari.in/or http://www.mykarmchari.in/ along with proof of residence, identity, caste and domicile in India at least once every 12 months during an enrolment period
Karmchari Pension Yojana aims to provide a minimum basic income support to adults (18-65 years of age) without any disability or illness.
Karmchari Pension Yojana aims to provide a minimum basic income support to adults (18-65 years of age) without any disability or illness. The scheme is in two parts – a contributory part and a non-contributory part.
The contributory part will start from 1 April 2023 and succeed the existing Rashtriya Swasthya Bima Yojana (RSBY).
The scheme is in two parts – a contributory part and a non-contributory part.
The scheme is in two parts – a contributory part and a non-contributory part. The contributory part will start from 1 April 2023 and succeed the existing Rashtriya Swasthya Bima Yojana (RSBY). It covers everyone above the age of 18 years who is below poverty line as per government norms, or has an annual income less than Rs 6 lakhs per annum.
The contributory part will start from 1 April 2023 and succeed the existing Rashtriya Swasthya Bima Yojana (RSBY).
The contributory part will start from 1 April 2023 and succeed the existing Rashtriya Swasthya Bima Yojana (RSBY).
The Karmchari Pension Yojana will be available for adults between 18 and 65 years of age. It will be available to those without any disability or illness, who are not eligible for any other social security scheme under the Social Security Department schemes such as old-age pension, widows’ pension and disability allowance etc., but have not received any amount from them so far during their lifetime.
Eligible applicants are identified by the Aadhaar number or equivalent identification number issued by UIDAI while they apply online at http://www.mykarmchari.in/or http://www.mykarmchari.in/ along with proof of residence, identity, caste and domicile in India at least once every 12 months during an enrolment period.
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The scheme aims to provide a minimum basic income support to adults (18-65 years of age) without any disability or illness who have contributed successfully to their accounts as per RSBY pension rules during their enrollment period.
Karmchari Pension Yojana (KPY) is a social welfare scheme in India that aims to provide a minimum basic income support to adults who have contributed successfully to their accounts as per RSBY pension rules during their enrollment period. The scheme was launched by the Central government on April 1, 2016 with an aim to provide financial assistance that would help individuals above the age of 18 years and below 65 years who are not eligible for other central or state schemes such as old age pension, disability pension etc..
The eligibility criteria for KPY are:
- You must be 18-65 years of age as on June 30th each year;
- You must not be suffering from any physical or mental disability;
- If you have been found eligible for any other central or state scheme such as old age pension, disability pension etc., then you may still apply for KPY but only after completing 12 months from the date of launch till June 30th each year (i.e., between April 1st till December 31st).
The benefit amount will be based on the contribution made and age on 1st October 2023, as per contribution rule for RSBY pensioners i.e., Rs 10/- per month for each Rs 100 contributions made by eligible subscribers in the previous year, less any withdrawal made during that year under any non-fraudulent circumstances.
The benefit amount will be based on the contribution made and age on 1st October 2023, as per contribution rule for RSBY pensioners i.e., Rs 10/- per month for each Rs 100 contributions made by eligible subscribers in the previous year, less any withdrawal made during that year under any non-fraudulent circumstances.
The scheme is open to all who have made a minimum of Rs 100/- per month for every Rs 100 contributed by them between 1st October 2016 and 31st March 2018. For example: If a person had deposited Rs 1000 at the start of their employment in 2015-16 and then paid another Rs 1000 in 2017-18 then they would qualify for an increase of 25% on their original deposit amount which translates into approximately 45 days’ salary per month (i.e., 45*1000/100=45).
Takeaway:
The benefit amount will be based on the contribution made and age on 1st October 2023, as per contribution rule for RSBY pensioners i.e., Rs 10/- per month for each Rs 100 contributions made by eligible subscribers in the previous year, less any withdrawal made during that year under any non-RSA scheme or from their own funds.
The subscriber can withdraw his/her entire corpus in one go or over a period of time up to five years from the date of commencement of Yojana.
Conclusion
This is a wonderful scheme, which will ensure that all adults in India are covered by the government and can live a comfortable life. The government has already made many changes like increasing the pension amount, giving benefits to senior citizens who have worked for 30 years or more and making it mandatory to pay taxes on some of your income.
