Comments
The Thrissur based ESAF Microfinance was selected as an implementing partner for the Swavalamban Yojana, National Pension Scheme at the State level. The scheme promoted by Pension Fund Regulatory and Development Authority (PFRDA) under the Central Government, is implemented through selected agencies across the nation.
Mr Jose K. Mani, Member of Parliament, inaugurated the programme held at Kottayam. Speaking on the occasion, he said, schemes like PFRDA were very much important to achieve the financial and social inclusion policies of the Central Government.
Through the scheme, the Government is intending to provide old-age protection of people working at the unorganised sector. A person joining the programme should contribute Rs1,000 a year. Until the financial year 2013-14, the Central Government will also contribute Rs1,000 every year. The Govternment will then invest the amount in funds having growth prospects.
The beneficiaries will get pension after 60 years, based on the amount accumulated. They also have the option of withdrawing the amount partially, subject to certain conditions.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.