Madhubabu Pension Scheme

The Madhubabu Pension Scheme is a social welfare initiative by the Government of Odisha. The scheme aims to provide financial assistance to the elderly, widows, and differently-abled individuals. It offers monthly pensions to eligible beneficiaries to ensure basic financial security and improve their quality of life.

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. 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 the Madhubabu Pension Scheme?

The Madhubabu Pension Scheme is a social welfare program launched by the government of Odisha, India on 1st January 2008. It provides financial assistance to elderly, disabled, and widowed individuals who are in need. The scheme is for people not covered under the National Social Assistance Programme (NSAP).

The eligible beneficiaries of the Madhu Babu Pension Yojana receive a monthly pension to help meet their basic needs. The scheme aims to improve the quality of life for vulnerable groups by ensuring a steady source of income.

Key Features of the Madhubabu Pension Scheme

The following are the key features offered by Madhubabu Pension Yojana:

Feature Description
Eligibility Senior citizens, widows, disabled individuals, and AIDS patients
Age Criteria Available for those aged 60 years and above
Age-based Pension Amount
  • 60 – 79 Years of Age: â‚ą1000 per month
  • 80+ Years of Age:  â‚ą1200 per month
  • 80+ Years of Age and Disability above 60%: â‚ą1400 per month
Disbursement 15th of every month in â‚ą100 denominations
Implementation Women & Child Development Department, Government of Odisha
Disability Pension Higher pensions for individuals with 60% or more disability and over 80 years old will get â‚ą1400 per month.
AIDS Pension Special provision for AIDS patients with a fixed monthly amount
Widow Pension Support for widows of any age
Application Process Simple application via local government offices or online portals
Bank Transfer Pension directly credited to the beneficiary's bank account
State Initiative Scheme specifically for residents of Odisha, India
Social Security Aims to provide financial support and social security to vulnerable groups

Pension Details of Madhu Babu Pension Scheme:

  • Amount: Determined by the Government and updated periodically.

  • Disbursement:

    • Usually transferred to the beneficiary's bank account on the 15th of every month.

    • Alternatively, it can be collected on Jan Seva Diwas at the Gram Panchayat Office or Block Development Office.

Eligibility Criteria of the Madhubabu Pension Scheme

  • Senior Citizens (OAP): Aged 60 years and above.

  • Widows (WP): Any age.

  • Leprosy Patients (PLP): With visible deformities, any age.

  • Disabled Persons (DP):

    • Any age

    • Unable to work due to blindness, orthopedic handicap, hearing/speech impairment, mental retardation, cerebral palsy, autism, mental illness, or multiple disabilities.

  • Widows of AIDS Patients (WP-AIDS): Any age and income level.

  • AIDS Patients (PP-AIDS): Identified by State/District AIDS Control Society or DAPCU, any income level.

  • Unmarried Women (BPL):

    • Above 30 years old

    • Belonging to a BPL family or with an annual income not exceeding Rs. 24,000.

Additional Eligibility Criteria:

  • Must be a permanent resident of Odisha.

  • No criminal convictions involving moral turpitude.

  • Not receiving any other pension from the Union or State Government or any aided organization.

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Documents Required for Madhubabu Pension Scheme

The documents required for the Madhubabu Pension Scheme (MBPY) can vary slightly depending on the specific category you are applying under. However, here are the general documents you will likely need:

    • Photographs: Three identical attested copies of recent passport-size photographs (for all categories).

    • Income Certificate: Certificate of total annual family income from the concerned Tahsildar (for all categories except WP-AIDS / DP-AIDS).

    • Disability Certificate: Issued by a competent authority with the latest percentage of disability mentioned (for DP category).

    • Leprosy Certificate: Medical certificate confirming leprosy, loss of limbs, and inability to perform normal work, issued by a competent authority or Medical Officer at a local P.H.C./Hospital, countersigned by the Block Development Officer/Tahasildar (for CLP).

    • AIDS Recommendation: Recommendation from the Orissa State AIDS Control Society (for DP-AIDS).

    • Proof of Age (for OAP / DP categories):

      • Electoral Roll of the Gram Panchayat / N.A.C./ Municipality

      • School Leaving Certificate

      • Birth Registration Certificate

If none of the above are available, an age certificate from a medical officer not below the rank of an assistant surgeon at the nearest P.H.C./hospital is required.

NOTE: It is always best to check with the Social Security & Empowerment of Persons with Disabilities Department (SSEPD) of Odisha for the most up-to-date list of required documents for your specific situation.

Steps to Apply for the Madhubabu Pension Scheme

Follow the steps mentioned below to join the Madhu Babu Pension Yojana: 

  1. Submission Process:

    • Step 1: Obtain the application form for free from:

      • Block Development Officer's Office

      • Executive Officer, Municipality/NAC

      • Gram Panchayat Headquarters

    • Step 2: Submit the completed application form with the required documents to:

      • Block Development Officer (rural areas)

      • Executive Officer of NAC/Municipality (urban areas)

      • Pension disbursing officer at the disbursement place

    • Step 3: Get an acknowledgment receipt immediately upon submission.

    • Step 4: The application is entered in Register Form-MBPY-II (Gram Panchayat-wise) by the Block Development Officer, based on the order of receipt.

  2. Verification Process:

    • Step 1: Block Development Officer (B.D.O.) records the application in Register Form-MBPY-II through the Social Educational Organizer.

    • Step 2: The B.D.O. assigns the application to the relevant Extension Officer for inquiry.

    • In urban areas, the Executive Officer of the Municipality/NAC assists in the inquiry.

    • Step 3: The Extension Officer verifies the applicant’s eligibility and documents, records findings on the application, and returns it to the B.D.O. within 15 days.

    • Step 4: The B.D.O. reviews the applications and forwards them to the Sub-Collector within 15 days for sanctioning, based on priority.

    • Step 5: The Sub-Collector maintains the Register in Form MBPY-III, prioritizing applications as indicated by the B.D.O.

  3. Sanction Process:

    • Step 1: The Sub-Collector examines the applications within 15 days, either sanctioning the pension, rejecting with reasons, or seeking clarifications. The Sub-Divisional Social Welfare Officer assists in this process.

    • Step 2: Applications needing clarification are returned to the B.D.O., who responds and resubmits within seven days.

    • Step 3: The B.D.O. sends the sanction order with a Photo Identity Card (Form MBPY-V) or the rejection order to the applicant within a week, under Certificate of Posting, and informs the Executive Officer if necessary.

  4. Payment Process:

    • Pensions start from the first of the month following sanction, based on priority in Register Form MBPY-II.

    • Payment is subject to the availability of slots due to pensioner death or an increase in the targeted number of beneficiaries for that Gram Panchayat/Urban Local Body.

Benefits of the Madhubabu Pension Scheme

The Madhu Babu Pension Yojana (MBPY) offers several benefits to eligible residents of Odisha, India, particularly those facing financial hardship. Some of the key advantages are as follows:

  • Financial Security: Provides a regular monthly pension, crucial for elderly persons, widows, people with disabilities, and those in need, helping them meet basic needs and reducing dependence on others.

  • Improved Standard of Living: The pension, though modest, helps beneficiaries afford essentials like food, clothing, and healthcare, enhancing their quality of life.

  • Social Inclusion: Promotes social inclusion by financially assisting vulnerable sections, enabling them to participate more actively in their communities and live with dignity.

  • Reduced Vulnerability: A steady income reduces financial worries, making beneficiaries less susceptible to exploitation and extreme measures to meet their needs.

  • Higher Pension for Super Senior Citizens: Provides a higher pension amount (â‚ą700) for individuals aged 80 and above, recognizing their greater needs.

  • Social Security: Offers a safety net for vulnerable sections of society, reducing economic insecurity.

  • Health and Well-being: Helps recipients afford basic healthcare and medications.

  • Empowerment: Promotes self-reliance and dignity among the elderly and disabled.

  • Inclusivity: Covers a wide range of disadvantaged groups, ensuring no one is left behind.

  • Economic Stability: Contributes to local economies by increasing the purchasing power of recipients.

  • Government Assistance: Demonstrates the government's commitment to social welfare and support for marginalized communities.

Conclusion

The Madhubabu Pension Scheme is a critical social welfare initiative in Odisha aimed at providing financial support to the elderly, widows, and persons with disabilities. By offering a monthly pension, the scheme enhances the quality of life for these vulnerable groups, ensuring economic stability and social security. Its implementation highlights the government's commitment to inclusive development and support for marginalized communities.

FAQs

  • Who is eligible for the Madhubabu Pension Scheme?

    The Madhubabu Pension Scheme is for senior citizens in India. To be eligible, you must be at least 60 years old. If you are 80 years old or above, you may be eligible for a higher pension amount.
  • What is the amount of pension provided under the Madhubabu Pension Yojana?

    Beneficiaries between 60-79 years old receive a monthly pension of â‚ą500 under the Madhubabu Pension Yojana. If you are 80 years old or above, the pension amount increases to â‚ą700 per month.
  • When is the pension of Madhubabu Pension Yojana disbursed?

    The pension under the Madhubabu Pension Scheme is disbursed on the 15th of every month.
  • Can I apply for the Madhubabu Pension Scheme if I already receive another pension?

    No, you are not eligible for a pension under the Madhubabu Pension Yojana if you are already receiving another pension.
  • Is there an age limit to apply for the Madhubabu Pension Scheme?

    The scheme is open to those 60 years old and above. There is no upper age limit mentioned.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^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.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^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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