The government of Andhra Pradesh introduced the YSR Pension Kanuka Scheme in the year 2021 to help economically backward people in Andhra Pradesh. This Andhra Pradesh Pension Scheme aims to provide financial support and social security for people who fall under a specific category. This scheme can help uplift economically backward people by offering them a regular pension income.
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Under this scheme, volunteers provided door-to-door distribution of Pension Kanuka amounts across the state. The government has released a fund of Rs 1496.07 crore for the Andhra Pradesh pension scheme. For 90167 new pension beneficiaries, the government sanctioned Rs 21.36 crore. Pensioners will get their pension amount even if they are in hospitals.
Some features of the policy are listed below:
People who fall under the eligibility category for getting the Andhra Pradesh pension scheme can enjoy several benefits provided under the scheme. Some benefits of getting this scheme are listed below:
For getting Andhra Pradesh Pension Scheme, people must fall under a particular age category. Other than the age category, people must have specific eligibility as given below:
Eligibility Age
Applicants must fall under a particular age criterion as given below. This eligibility age differs depending upon the reason for which the person is getting a pension.
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Andhra Pradesh Pension Scheme benefits a set of people falling under the below-mentioned categories. They are:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Andhra Pradesh pension scheme can be applied online and offline. The procedure to apply are discussed in detail below:
Apply In-Person
Apply Online
NOTE: Applicants must provide genuine information while applying for this scheme. Any false details provided will be considered fraudulent and rejected immediately. Applicants should submit a duly filled application form.
Required Documents
Documents that are required for applying to get Andhra Pradesh Pension Scheme:
NOTE: If any additional documents are requested by authorities while applying, the applicant must also provide those requested documents along with the application form. Having extra photocopies may come in handy during the application procedure.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Required Information
Information that is required for applying to get YSR Pension Scheme are listed below:
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^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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