I like to keep up to date with government schemes, especially those that concern retirement. When the Swavalamban National Pension system was announced, I wondered what is NPS Swavalamban? The scheme was launched in 2010 and was spearheaded by the Ministry of Finance. It continues to make an impact.
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What is Swavalamban National Pension system?
It is a pension launched by the Govt. of India wherein retirement benefits will be given to citizens working in the unorganised sector. From what I know, even NRIs can invest in the scheme and open their NPS-Swavalamban account.
Adding onto what is Swavalamban Yojna.Subscribers that are unable to migrate to APY (Atal Pension Yojana) will be allowed to remain in the Swavalamban Yojana. Though, the Swavalamban National Pension or Swavalamban Yojn has been renamed as Atal Pension Yojana in 2015. Both the schemes provide an assured minimum pension sum to the subscribers to meet any day-to-day expenses after retirement. The pension amount allotment is based on capital markets.
What is Swavalamban scheme benefit?
Farmers, self-employed and others in the unorganised sector benefit from the scheme. All Indian citizens between the age group of 18–60 years are eligible to participate in the scheme. Each inventor or subscriber can choose the amount they wish to invest. The biggest benefit of the scheme is that the pension amount is matched by government investment.
I hope this solves the question of what is NPS Swavalamban for you.
Read more:
How Family
pension is to be Calculated? What are the Documents Required for Family pension? Who Is Eligible For Widow’s pensionYour Feedback Matters! How was this Answer?
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What is swavalamban scheme ?
Unnati
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2 Year
2022-08-21T15:31:45+00:00 2022-08-21T15:31:46+00:00Comment
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