Divyang Pension Yojana

The Divyang Pension Scheme (DPS) is a government initiative in India that provides financial assistance to persons with disabilities (Divyangjan). This monthly pension aims to bridge the financial gap they face due to their limitations and improve their overall well-being. As of June 2024, the monthly pension ranges from Rs. 1000 to Rs. 3000.

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is the Divyang Pension Scheme?

The Divyang Pension Scheme (DPS) is a social security program implemented by the Indian government to financially assist people with disabilities (Divyangjan). It aims to bridge the financial gap they face due to their limitations and empower them to live a life of dignity and independence.

What is the Eligibility Criteria for the Divyang Pension Scheme?

The eligibility criteria for the Divyang Pension Scheme vary slightly across Indian states. However, some general requirements include:

  • Age: The applicant must be 18 years or above.

  • Disability: A valid disability certificate issued by a government-authorized medical board is mandatory. The minimum disability percentage for eligibility may differ depending on the state.

  • Income: Some states restrict the benefit to individuals or families below a specific income threshold.

  • Residence: Applicants must be permanent residents of the state in which they are applying.

**It's important to note that some states offer additional benefits or have separate pension schemes for specific categories of disabilities, such as blindness or mental illness.

Benefits of the Divyang Pension Scheme 

Below are the benefits of the Divyang Pension Scheme:

  • Financial Security:  The most immediate benefit is the regular monthly income. This helps Divyangjan meet basic needs like food, clothing, and shelter, reducing dependence on others and alleviating financial stress.

  • Empowerment:  Financial security fosters a sense of self-reliance and dignity. Divyangjan can make informed choices about their lives, participate in activities they may have previously avoided due to financial constraints, and contribute more actively to their households.

  • Improved Well-being:  Financial stability reduces stress and anxiety, leading to better overall well-being. Knowing their basic needs are covered allows Divyangjan to focus on their health, education, and skills development.

  • Reduced Burden on Families:  The financial assistance provided by the scheme eases the burden on families caring for Divyangjan. This allows them to focus on providing additional support and care, if needed.

  • Investment in the Future:  By empowering Divyangjan and their families, the scheme indirectly contributes to the overall development of the nation. It allows individuals with disabilities to reach their full potential and contribute to the economy.

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How to Apply for the Divyang Pension Scheme?

The application process for the Divyang Pension Scheme is usually handled by the Social Welfare Department of each state. The specific procedure may vary, but it generally involves the following steps:

  • Collecting Documents: Gather the necessary documents, including a disability certificate, proof of age, residence proof, and income certificate (if applicable).

  • Locating the Application Form: The application form can be obtained from the Social Welfare Department's office or downloaded from their website.

  • Filling and Submitting the Form: Fill out the application form accurately and attach all required documents. Submit the completed application to the designated authority at the Social Welfare Department.

It's advisable to inquire about the specific documents required and any additional steps involved in your state. You can contact the Social Welfare Department or visit their website for more information.

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Conclusion

The Divyang Pension Scheme is a commendable initiative by the Indian government to support persons with disabilities. It provides much-needed financial assistance, promotes social inclusion, and empowers Divyangjan to lead more fulfilling lives. By working together, the government, NGOs, and communities can create a more inclusive environment where persons with disabilities can thrive.

FAQs

  • Where can I find more information about the Divyang Pension Scheme?

    • Your state's Social Welfare Department website.

    • Ministry of Social Justice and Empowerment website (https://socialjustice.gov.in/).

    • Reliable news articles or websites of NGOs working for disability rights.

  • Is there a specific amount for the Divyang Pension?

    The monthly pension amount varies depending on the state. It can range from Rs. 1000 to Rs. 3000 (as of June 2024).
  • What is the minimum percentage of disability required?

    The minimum disability percentage for eligibility varies by state. It typically ranges from 40% to 80%, depending on the type of disability.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*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.
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¶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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