Aasara Pension

Aasara Pension is a social welfare scheme by the Government of Telangana, India aimed at providing financial assistance to vulnerable groups like elderly, widows, disabled individuals, and those below the poverty line. It offers monthly pensions to support their basic needs and improve their quality of life. The scheme helps in ensuring social security and inclusivity for disadvantaged populations.

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Disclaimer: The corpus of ₹1 Crore is an illustrative example and is not guaranteed. It is based on the assumption of an 8% annual rate of return over a 30-year investment period, for an investment of 10000/month, starting at age 25. Actual returns may vary depending on market conditions, policy term, premium payment term, and other factors. The investment risk in unit-linked insurance plans (ULIPs) or market-linked instruments is borne by the policyholder.Maturity Value: ₹1,10,89,478 @ CAGR 8%; ₹55,66,122 @ CAGR 4%. Returns are subject to market performance and are not guaranteed. Tax benefits, if any, are as per prevailing laws and may change from time to time. All plans mentioned are offered through insurance company funds and are subject to associated terms and conditions. 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 Aasara Pension?

The Aasara pension scheme is a welfare initiative launched by the Government of Telangana. It is a pension plan which is designed to provide financial support to vulnerable groups, the scheme extends benefits to elderly individuals, widows, members of the Goud community, patients with elephantiasis, people afflicted with AIDS, the physically disabled, and beedi workers. The scheme has grown significantly since its inception on November 8, 2014, by Chief Minister Kalvakuntla Chandrashekhar Rao in Kothur, Mahboobnagar district. By March 2018, the number of beneficiaries had reached 42 lakhs. The government allocates ₹5,500 crore annually to sustain the Aasara pension scheme, reflecting its commitment to improving the quality of life for these marginalized communities. It offers a monthly pension to various categories, including:

  • Senior Citizens: Individuals above a specific age (which can vary depending on amendments) receive financial aid to meet their basic needs.

  • Widows: The scheme recognizes the economic hardship faced by widows and offers them a pension to ensure some financial independence.

  • Persons with Disabilities: Aasara acknowledges the challenges faced by people with disabilities and provides them with financial support to enhance their quality of life.

  • Goud Community: Traditionally considered a backward community, Aasara extends a helping hand to uplift their economic standing.

  • Marginalized Groups: The scheme also includes people affected by chronic illnesses like elephantiasis and HIV/AIDS, offering them financial security during their struggles.

  • Beedi Workers: Beedi rolling, a source of income for many, can harm health. Aasara recognizes this and provides beedi workers with a pension.

Benefits of Aasara Pension

The benefits of Aasara on Telangana's social landscape are;

  • Financial Security: The scheme provides a much-needed source of regular income for those who may not have any other means of financial support. This helps them meet their basic necessities like food, clothing, and healthcare.

  • Improved Living Standards: With some financial security, beneficiaries can afford better living conditions and access essential services. This can contribute to improved overall well-being.

  • Empowerment: Aasara empowers beneficiaries, particularly women, by providing them with some financial independence.

  • Reduced Vulnerability: The pension scheme acts as a buffer against economic shocks, protecting vulnerable populations from falling deeper into poverty.

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Eligibility Criteria of the Aasara Pension Scheme

  • Vulnerable and primitive tribal groups.

  • Households led by women without any physically capable earning members.

  • Only one family member per household can receive a disability or widow pension for all types of pensions.

  • Homeless households.

  • Households residing in makeshift huts or other informal structures, especially in urban areas.

  • Households headed by widows, terminally ill individuals, people with disabilities, or those aged 65 or older with no income source.

  • Landless agricultural laborers, rural craftspeople, artisans, and slum dwellers.

  • Individuals earning daily wages in the unorganized sector.

How to Check Telangana Aasara Pension Status by Pension ID/UID/SADAREM ID

To check the Aasara Pension Status, follow these steps:

  • Visit the official Telangana Aasara Pension website at www.aasara.telangana.gov.in.

  • On the homepage, click the “Quick Search” button to search for pensioner details.

  • Enter your Pension ID, User ID, or SADAREM ID and click the search button to obtain your Aasara Pension Status information.

  • You can also locate the list of Aasara Pension beneficiaries by selecting the District, Mandal, Panchayat, Pensioner Name, and Head of Family name.

  • The beneficiary list can also be accessed using the Aadhar Card information.

How Has the Aasara Pension Scheme Improved Over the Year?

The Telangana government has continuously strived to improve its reach and effectiveness:

  • Increased Pension Amounts: Over the years, the government has revised the pension amounts offered under Aasara to keep pace with rising living costs.

  • Inclusion of New Categories: The scheme has been expanded to include new categories like single women and families of beedi workers, ensuring wider coverage.

  • Transparency and Efficiency: The government has implemented online portals and grievance redressal mechanisms to streamline application processes and address beneficiary concerns.

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Conclusion

The Aasara pension scheme is a great initiative by the Telangana government. It provides a safety net for some of the state's most vulnerable populations, promoting financial security and improved living standards. By addressing existing challenges and ensuring its long-term viability, The Aasara Pension Scheme can continue to be a light of hope, empowering Telangana's most marginalized communities.

FAQs

  • What is the amount of Aasara pension in Telangana?

    Eligible applicants for the New Aasara Scheme, as determined by the government through the Praja Palana application, receive Rs 4000 for elderly individuals and Rs 6000 for disabled persons.
  • How to check Asara payment status?

    The Telangana government has recently introduced the Aasara Pension status check. Beneficiaries can use their Pension ID, UID, or SADAREM ID to verify their payment status.
  • What are the documents required to open Aasara Pension Scheme account?

    • Address Proof

    • Photograph

    • Death Certificate in case of a widow

    • Aadhaar Card

    • SADAREM Certificate in the case of persons with disabilities 40% or above and 51% in respect to the hearing impaired

    • Income Certificate

    • Proof of age

    • Bank Account Passbook

    • Mobile Number

    • IFSC Code

    • Post Office Saving Account

    • Xerox copy of registration in the Cooperative society of Toddy Tappers

    • Weavers should submit a Xerox copy of registration in the Cooperative society of weavers

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^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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^^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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