Swavalamban national scheme is also known as swavalamban yojana. It is applicable to all citizens of India in the unorganized sector who joined the new pension system administered by the PFRDA.
Pension Yojana Details:
Organization:- Pension Fund Regulatory and Development Authority
Name:- Swavalamban National Pension Scheme
Official Website:- https://npscra.nsdl.co.in
Head Office Address:- NSDL e-Governance Infrastructure Ltd, First Floor, Times Tower, Kamala Mills, Compound, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India.
Contact Phone Number:- 022-24994200
Toll-Free Number:- 1800222080
Benefits of Swavalamban National Scheme:
Under the pension scheme, govt of India will contribute Rs. 1000/- (One Thousand Rupees) per annum to each new pension system account opened in the year 2010.
The benefit will be available to the person who joins the new pension system with a minimum amount of Rs. 1,000/- (One Thousand Rupees) and a maximum contribution of Rs. 12,000/- (Twelve Thousand Rupees) per year.
For the purpose of this pension scheme pran card, a candidate will be deemed to belong to the unorganized sector if that person is not in regular employment of the state or Central Govt.
If that person is not covered by any social security scheme under the following laws such as employee’s PF, the coal mines PF, the seamen PF, the Assam tea plantations PF, and pension fund scheme.
Eligibility Criteria:
The swavalamban national scheme (pran card) will be applicable to all citizens of India in the unorganized sector subject to the terms and conditions that the benefit of central govt of India contribution can avail only those candidates whose contribution to the New Pension System is a minimum of Rs.1,000/- (One Thousand Rupees) and maximum of Rs. 12,000 (Twelve Thousand Rupees) per year, for both Tier I and Tier II took together, provided that the candidates make at least a contribution of Rs. 1000 (One Thousand Rupees) per year to his tier I NPS account.
All new pension system (NPS) accounts opened in 2009-2010 will be entitled to the benefit of govt contribution under this pension schemes as if they were opened as new accounts in 2010-2011 subject to the terms and conditions that the person must fulfill all the eligibility criteria mentioned under these guidelines.
The scheme will be applicable to all the citizens of India from 18 years to 60 years of age, for any assistance call on toll-free number 1800222080.
Swavalamban Pension Yojana Application Process:
Eligible individuals had to follow the following steps to complete the enrolment process for Swavalamban Pension Yojana.
They had to fill up the NPS-Swavalamban application form that was available both online and offline.
Applicants had to attach essential KYC documents serving as proof of identity and address.
Individuals were required to deposit a minimum amount of Rs. 100 at the time of registration.
A person has to submit their application form along with the required set of documents to the nearest aggregator.
They also had to make a minimum contribution to complete the registration process.
Note: For any Enquires contact with a toll-free number or via SMS
Funding of Grant:
The swavalamban national scheme will be funded by govt of India. The amount would be given such that monthly payment in the candidate account would be possible.
Candidates have the option to join the new pension system (NPS) as an individual as per the scheme. The candidate must declare whether he or she falls within the definition of an unorganized sector. The candidate also declares that his contribution range (Rs. 1,000/- to Rs. 12,000/-) per year.
If the candidate has made a fake declaration about eligibility to avail the benefits of this swavalamban national scheme the entire contribution will be deducted with interest. Once the status of the candidate changes to in-eligible after joining the new pension system he or she must declare immediately so and the scheme benefit of govt contribution will not be added to the candidate’s account.
Miscellaneous of Scheme:
Pension Fund Regulatory and Development Authority (PFRDA) may permit candidates of an existing scheme to migrate to a new pension system (NPS) under such conditions as may be approved by the govt of India. If is there any doubts or any issues on the eligibility the central govt will decide the whole matter in consultation with the pension fund regulatory and development authority (PFRDA) and that will be the final decision.
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