40 lakh poor families to be benefited by the scheme
Samajwadi Pension scheme would be the biggest social security scheme in the country
10 lakh minority families to be covered under the scheme
Head of the family to get pension at the rate of Rs 500 per month for the first year
Uttar Pradesh Chief Minister Mr. Akhilesh Yadav would be launching the Samajwadi Pension Scheme on November 5. Beginning in the current financial year, the scheme would be covering 12 lakh families from SC/ST, 10 lakh minority families and 18 lakh families of the backward and general class poor families.
Giving this information, a state government spokesman today said that the chief minister would be launching the scheme at the Janeshwar Mishra Park in Gomti Nagar by giving pension cards to the beneficiaries. This scheme would be the biggest social security scheme to be undertaken anywhere in the country. Under the scheme, 40 lakh families of the urban and rural areas would be benefited who do not have adequate means of income.
The spokesman also said that the Samajwadi Pension Scheme was different from other social security schemes as this was a conditional cash transfer scheme and enhancements as encouragement in the pension will come into force after certain conditions are met. Under the scheme, head of the beneficiary family will be entitled to Rs 500 per month in the first year of the scheme, which will be transferred to their bank accounts under the Core Banking System through e-payment.
Between the second and the sixth year, after meeting of certain conditions provisions of enhancing the pension amount by Rs 50 per year have been made under the scheme. For example, a beneficiary will get Rs 550 per month in the year 2015-16 and by the end of the sixth year it would stabilize at RS 750 per month. Included in a family would be self/wife/bachelor son, daughter/mother/father/brother or any other member who lives with the family and eats from the same kitchen.