Saturday, August 17, 2019
Social Security Scheme
Social Security Schemes are government programs aimed at providing financial and other forms of assistance to individuals and families facing various contingencies or vulnerabilities. These schemes are designed to offer a safety net and ensure a certain standard of living, especially for vulnerable groups such as the elderly, disabled, unemployed, and economically disadvantaged individuals.
In India, there are several social security schemes implemented by the government and other institutions to provide financial support and social protection to different sections of society. Here are some key social security schemes in India:
1. Old Age Pension: The government provides old age pension to senior citizens who do not have any means of income. This pension is aimed at ensuring a basic standard of living for the elderly.
2. Disability Pension: Individuals with disabilities receive financial assistance under disability pension schemes to support their livelihood and healthcare needs.
3. Pradhan Mantri Suraksha Bima Yojana (PMSBY): PMSBY is an accident insurance scheme that provides a cover in case of accidental death or disability. It is available to all citizens, providing them with financial security in case of unforeseen accidents.
4. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): PMJJBY is a life insurance scheme that provides a life cover in case of death due to any reason. It offers an affordable life insurance option to the common people.
5. Employee Provident Fund (EPF): EPF is a retirement benefit scheme for salaried employees. Both the employer and employee contribute a portion of the salary to the EPF account, which serves as a social security fund for employees after retirement.
6. National Social Assistance Program (NSAP): NSAP includes several social security schemes like the Indira Gandhi National Old Age Pension Scheme, Indira Gandhi National Widow Pension Scheme, and Indira Gandhi National Disability Pension Scheme. These schemes provide financial assistance to vulnerable groups.
7. Atal Pension Yojana (APY): APY is a government-backed pension scheme targeted at unorganized sector workers. It encourages individuals to save for their retirement by contributing to the pension fund during their working years.
8. Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (PM-JAY): Also known as the National Health Protection Scheme, PM-JAY provides health insurance coverage for hospitalization and secondary healthcare to economically vulnerable families.
9. Rashtriya Swasthya Bima Yojana (RSBY): RSBY is a health insurance scheme for Below Poverty Line (BPL) families. It provides cashless health insurance coverage for hospitalization expenses.
These are just a few examples of social security schemes in India. The government periodically introduces new schemes and modifies existing ones to enhance social security and improve the quality of life for citizens.