Hyderabad, July 10: Chief Minister YS Rajasekhara Reddy has asked Rural Development Minister Vatti Vasantha Kumar to give top priority to the Abhayahastam programme and work with missionary zeal to launch the programme as per schedule.
Reddy, who is holidaying in Goa, has asked officials of the rural development department and project Special Officer B Rajasekhar to speed up the preparatory works for handing over individual policies to one crore women by November 1, the State’s Formation Day.
The chief minister told the officials that Abhayahastam was meant to give life-long pension to all members of women’s selfhelp groups (SHGs) so as to provide them financial stability and security, and status in the family in their old age.
He hoped that the training of staff and computer personnel in software use at the district level was in progress and enrolment to the scheme, which began on June 22, would be completed by July 21. Entering the data and verification of members’ bona fides is to be completed by September 10 and collection of contribution from eligible members of the SHGs by October 10.
According to Reddy, Abhayahastam is a Co-contributory Pension Scheme for women aged above 18 and belonging to the Self- Help Groups in Andhra Pradesh.
The eligible woman has to contribute Rs 30 a month while a matching contribution will be made by the government by way of credit into the individual pension account.
The contribution of the member and the co-contribution of the government are periodically transferred to the Life Insurance Corporation of India for investing diligently to secure better returns on the investment.
Besides pension, the other benefits under the scheme are death and disability insurance cover in respect of women in the age group of 15 to 59.
An amount of Rs 30,000 will be paid to the nominee in the event of a member’s natural death and Rs 75,000 in the event of accidental death. In the event of permanent disability, Rs 75,000 will be paid to her and Rs 37,500 in case of partial disability.
Two children of the member studying 9th, 10th, 11th or 12th class will receive a scholarship of Rs 1,200 per annum.
In the event of the death of the subscriber, in contributory face, the available contribution of the subscriber and the government’s co-contriution along with accrued earnings on such contributions will be transferred to the nominee of the subscriber.
In the event of the death of the pensioner (Aged above 60 years) the available fund will be transferred to the nominee of the subscriber.
–Agencies–