UP Pension scheme provides very soothing respite to needy people during difficult circumstances. A pension is a fixed sum of money obtained by the employees of the state after retirement when they have no source of steady income. The government of Uttar Pradesh offers pension plans to the needy who may or may not have the financial means to lead their lives.
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The UP Pension Scheme was started in 2019 offers benefits to senior citizens, widows, disabled, and people with leprosy. There are three types of pension plans under this scheme:
This scheme provides support to senior citizens of the state. The scheme has been launched to help elderly people who are above 60 years of age and may not have any financial support for basic necessities.Â
This scheme has been initiated for the welfare of people living under the poverty line with the incentive of Rs.800/- per month to lead a respectable life. Initially, senior citizens in the state of Uttar Pradesh would get Rs. 750 per month, which has been increased to Rs. 800.Â
Uttar Pradesh Widow Pension Scheme Provides support to widows aged 18 to 60 years. The UP government provides an incentive of Rs 500 to such women. With the initiation of this scheme, the poor class and widows of specific castes are being supported and continuously being elevated.  Â
This scheme provides an incentive of Rs 500/- to the people who suffer from disabilities like physical and mental disabilities, or organ impairment. Such people may or may not have any financial support to meet their basic requirements. The applicants must have a 40% disability confirmed by the city or district hospital or any authorized personnel.Â
Some features and benefits of the UP pension scheme are:
Features of UP Pension Scheme 2021 |
|
Scheme Name |
Uttar Pradesh Pension Scheme |
Department Name |
State Welfare Department, UP |
Beneficiary |
Old Age people, Widow, Divyang people |
State |
Uttar Pradesh |
How to apply |
Online |
Financial aid |
|
Old Age |
Rs. 800/- |
Widow |
Rs. 500/- |
Divyang |
Rs. 500/- |
Online portal |
https://sspy-up.gov.in/EnglishPages/index_en.aspx |
Official Helpline number |
 1800 419 0001 |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Following are the benefits of this scheme:Â
The Uttar Pradesh Government has proposed specific eligibility criteria for all those who want to participate in the scheme. The requirements are discussed below:Â
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
UP Pension Scheme comprises Old Age, Widow, and Divyang Pension Schemes. This scheme offers benefits to the adults of age 60 years and above, financially backward individuals, widows, and people with physical impairment or disability.Â
The present data shows the number of beneficiaries who benefitted and the amount transferred for each scheme.
Number of Beneficiaries |
Total Amount transferred (in crore) |
|
Quarter (1) |
49,87,054 |
1246.00 |
Quarter (2) |
51,21,454 |
797.00 |
Quarter (3) |
50,86,193 |
771.00 |
Quarter (4) |
47,25,450 |
719.00 |
Number of Beneficiaries |
Total Amount transferred (in crore) |
|
Quarter (1) |
26,06,213 |
651.00 |
Quarter (2) |
27,46,094 |
435.00 |
Quarter (3) |
27,95,373 |
425.00 |
Quarter (4) |
27,56,184 |
427.00 |
Number of Beneficiaries |
Total Amount transferred (in crore) |
|
Quarter (1) |
11,01,643 |
278.00 |
Quarter (2) |
11,00,057 |
171.00 |
Quarter (3) |
11,13,198 |
173.00 |
Quarter (4) |
11,15,353 |
175.00 |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
To apply for pension schemes, one should keep the required documents handy. Following is the list of documents needed to apply for all three Schemes:
Follow the instructions below to apply for the UP pension scheme:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
After filling in this information, one has to upload a passport-sized photo and documents required for any one of these pension plans chosen by the applicant.Â
The next step is to tick the declaration box, where one has to declare that they are not taking any financial aid under any pension scheme launched by the Central or State government.
After ticking the Declaration box and filling Captcha code, submit your application. Your application is complete now.
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*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
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