Empowering the socio-economic backward people in India is a primary responsibility. There are different ways to improve their living standard. However, providing consistent financial support will prove extremely beneficial. In this regard, the YSR Pension Kanuka by the State Government of Andhra Pradesh is a scheme targeting poor people to improve their financial standards. Here is a detail to help you understand the scheme, features, and application process.
What Is YSR Pension Kanuka?
YSR Pension Kanuka, named after Yeduguri Sandinti Jagan Mohan Reddy, is a pension scheme introduced by the Andhra Pradesh Government to support the socio-economic backward people belonging to the State. It helps poor people, especially widows, old-aged people, people with disabilities, etc., improve their economic conditions. Incentives are provided to the people as a fixed amount of pension.
Life insurance can also be quite affordable, depending on an individual’s needs. It is possible to pay reasonable premiums on life insurance plans by choosing adequate coverage, the policy term and the premium payment term and frequency. Life insurance pension plans come with the dual benefit of providing life insurance protection to your family while allowing you to secure your financial needs during your retirement years. Moreover, online retirement plans also allow you to choose from different annuity options as per your needs and financial capacity.
YSR Pension Eligibility Criteria
The eligibility criteria for the YSR Pension Kanuka are as follows:
The applicant should have a white ration card and be from a BPL family.
The applicant should not have availed of the benefits of any other pension scheme.
The applicant has to be a resident of the corresponding district.
Types Of Pensions
There are different types of pensions provided to people. The age criteria and the amount of pension varies based on the category of people. Here are some details about the same:
Pension Type |
Age Criteria |
Pension Amount(₹) |
Old-age pension |
60 years or above |
2250 |
Widow pension |
18 years or above |
2250 |
Weavers pension |
50 years or above |
2250 |
Toddy tappers pension |
50 years or above |
2250 |
Fisherman pension |
50 years or above |
2250 |
Transgender pension |
18 years or above |
3000 |
Traditional cobblers pension |
40 years or above |
2250 |
Dappu artists pension |
50 years or above |
3000 |
Single women pension |
35 years or above for married women separated/divorced for more than a year. Thirty years or above for unmarried women in rural areas and 35 years or more for women in urban areas. |
2250 |
CKDU(Chronic Kidney Disease of Unknown aetiology) pension |
No age limit. However, the person should be undergoing CKDU. |
10,000 |
ART(Antiretroviral Treatment) pension |
No age limit. However, the person should be undergoing ART treatment for six months. |
2250 |
Disabled pension |
No age limit. However, the applicant should have at least 40% disability. |
3000 |
The Municipal Planning And Development Office(MPDO) disburses the pension in rural areas and the Municipal Corporation in urban areas to the beneficiaries. The MPDO and the Municipal Corporation will disburse it to the respective Panchayat or Ward, from where it is disbursed to the respective beneficiaries online or manually.
Benefits Of YSR Pension Kanuka
YSR Pension Kanuka is a beneficial scheme aimed at uplifting the socio-economic backward people.
Provides a fixed monthly pension.
The beneficiaries do not have to make a monthly contribution to receive the benefit.
The process of application and the mode of receiving the pension is simple.
YSR Pension Kanuka Application Process
The application process is simple and as follows:
Go to the official website, the YSR Navasakam Portal.
Click the Download option available at the top of the homepage.
Five options get displayed on clicking Download. Go to the last option, which is the YSR Pension Kanuka.
In the YSR Pension Kanuka option, click the 'Download' button.
A folder with all the different application forms based on the types of pension will get downloaded to the system.
Choose the appropriate form and fill out the details based on the requirement.
Attach the following documents and submit them to the relevant authority in the Panchayat or Municipal corporation.
BPL ration card
Aadhaar card
Proof of residence
Proof of identity
Bank passbook
The applications for the pension scheme, once submitted to the Panchayat Office, will be moved further to the inspection of the Gram Sabha. After the approval of Gram Sabha, the application will go for further verification to the Metropolitan Planning Organisation or the Municipal Corporation. The verification process will be completed by the relevant authorities here. Upon successful verification of the YSR Pension Kanuka status, the authorities will provide the pension amount to the Gram Panchayat Office from where it will reach the beneficiaries. The verification process will be faster if the beneficiaries have the relevant documents.
Life Insurance as a Retirement Solution
Financial stability is equally essential during one’s employment phase and during the retirement phase. Everyone should ensure that they build financial resources to secure their families, even in their absence. This is one of the main purposes that life insurance serves; the death benefit sum assured from a life insurance plan can easily support your family in the event of your untimely demise. Purchasing a retirement policy with life insurance protection will also prove beneficial in this regard. In this way, you can ensure a financially secure life for yourself and your family during your retirement years; and in case of your demise, the life insurance benefits will continue to support them financially.
Insurers have made purchasing retirement plans affordable to benefit different sections of society. There are also online retirement plans to make the process simple. With our Tata AIA retirement plan, you will get many flexible features, such as choosing between immediate and deferred annuity solutions. Both the solutions come with life insurance protection to ensure that your family’s financial security is robust in your absence. With immediate annuity, you start receiving the pension benefits soon after your retirement. In contrast, with a deferred annuity policy, you can choose when you want to start receiving the pension benefits during your retirement. But more importantly, it is possible to get your family covered under life insurance cover so that in your absence, they can continue supporting themselves financially.
Conclusion
Contributing to the financial well-being of different sections of people living in Indian society is the responsibility of the Government. Therefore, the YSR Pension Kanuka was launched keeping in mind this perspective. It provides financial assistance in the form of a fixed pension to deserving people with no family support. The beneficiaries can be old-age people, widows, single women, fishermen, etc., living BPL. The process of application is relatively simple. As responsible citizens, we should urge people to make financially well-informed decisions and benefit from pension schemes to secure their families.
L&C/Advt/2023/Apr/1305
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