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Everything You Must Know About YSR Pension Kanuka!

Retirement plans are sometimes known as pension plans. Individuals can pay a portion of their earnings to the various programmes. A pension plan's primary purpose is always to provide a regular income after retirement to the respective person. As a consequence, even though an individual has a sizable savings account, a pension plan might be necessary for his or her benefit.

The YSR Pension Kanuka was created by the government of Andhra Pradesh as part of its social welfare programmes to help the poor and disabled. It aims to offer a fair standard of life for the poor and disabled, especially widows, the aged, and people with disabilities. To know and find out more on YSR Pension Kanuka, read on.

Everything You Must Know About YSR Pension Kanuka!

What Are The Features Of YSR Pension Kanuka?

Following are some of the features of YSR Pension Kanuka -

  1. The government would distribute Rs. 2250 to older folks in their state under this pension system.
  2. Only older residents from the Economically Backward Sections are eligible for benefits under this arrangement, according to the government.
  3. The government would pay the pension money directly to the beneficiaries' bank accounts under this pension plan.

What Is The Eligibility Criteria For YSR Pension Kanuka?

Following is the listed eligibility criteria for a person to apply for YSR Pension Kanuka -

  1. An individual would have to be a native of Andhra Pradesh to be entitled to benefits here under the pension system.
  2. This pension system is only available to destitute elderly persons.
  3. This pension scheme is reserved for the people who are at least 60 years old.
  4. The person has to be a part of a Below Poverty Line (BPL) family with a white ration card in order to become eligible for the pension system.

Following is the listed age criteria for individuals belonging to different sections of work to receive different types of pension under YSR Pension Kanuka -

  1. Old age pension – The age limit is reserved at 60 years old or older and unable to support themselves
  2. Weavers pension – The age limit is reserved at 50 years or above and poor individuals
  3. Widow pension – The age limit is reserved at 18 years or above
  4. Toddy toppers pension – The age limit is reserved at 50 years or above 
  5. Transgender pension – The age limit is reserved at 18 years or above
  6. Fisherman pension – The age limit is reserved at 50 years or above
  7. Traditional cobblers pension – The age limit is reserved at40 years or above
  8. Dappu artists pension – The age limit is reserved at 50 years or above
  9. Single women pension – (1) For married women who have been estranged or abandoned for more than a year, the age restriction is 35 years or older. (2) Unmarried women in rural areas must be 30 years old or older, whereas unmarried women in urban areas have to be 35 years old or older and without any family support.
  10. CKDU pension – There are no age restrictions, however participants must be undergoing CKDU.
  11. ART pension – There is no upper age limit, however participants must be on ART for at least six months.
  12. Disabled pension – There is no upper age limit, however participants must be disabled by at least 40%.

Who Are The Sanction Authorities?

  • In Rural Areas - The Mandal Parishad Development Officer (MPDO) is in charge of authorising the pension amount for beneficiaries in rural areas.
  • In Urban Areas - The Municipal Commissioner is in charge of approving the pension amount for beneficiaries in urban areas.

Endnotes

The inhabitants of Andhra Pradesh can benefit from the YSR Pension Scheme in a number of ways under the YSR Pension Scheme. Approximately 12 distinct categorizations have been established for the population's well-being. Around 16 lakh people in the state have benefited from this project. This pension scheme's major purpose is to provide financial assistance to the state's impoverished.

Also read - Pros And Cons Of Investing In A Pension Plan

Some Questions You Need To Ask Before Purchasing A Pension Plan

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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