Uttar Pradesh Pension

UP Pension scheme provides very soothing respite to needy people during difficult circumstances. A pension is a fixed sum of money obtained by the employees of the state after retirement when they have no source of steady income. The government of Uttar Pradesh offers pension plans to the needy who may or may not have the financial means to lead their lives.

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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 the Uttar Pradesh Pension Scheme?

The UP Pension Scheme was started in 2019 offers benefits to senior citizens, widows, disabled, and people with leprosy. There are three types of pension plans under this scheme:

  • Old Age Pension
  • Widow Pension
  • Divyang and Leprosy Pension
  1. Old Age Pension Scheme

    This scheme provides support to senior citizens of the state. The scheme has been launched to help elderly people who are above 60 years of age and may not have any financial support for basic necessities. 

    This scheme has been initiated for the welfare of people living under the poverty line with the incentive of Rs.800/- per month to lead a respectable life. Initially, senior citizens in the state of Uttar Pradesh would get Rs. 750 per month, which has been increased to Rs. 800. 

  2. Widow Pension Scheme

    Uttar Pradesh Widow Pension Scheme Provides support to widows aged 18 to 60 years. The UP government provides an incentive of Rs 500 to such women. With the initiation of this scheme, the poor class and widows of specific castes are being supported and continuously being elevated.   

  3. Divyang and Leprosy Scheme

    This scheme provides an incentive of Rs 500/- to the people who suffer from disabilities like physical and mental disabilities, or organ impairment. Such people may or may not have any financial support to meet their basic requirements. The applicants must have a 40% disability confirmed by the city or district hospital or any authorized personnel. 

Features, Benefits and Eligibility of the Policy

Some features and benefits of the UP pension scheme are:

Features of UP Pension Scheme 2021

Scheme Name

Uttar Pradesh Pension Scheme

Department Name

State Welfare Department, UP

Beneficiary

Old Age people, Widow, Divyang people

State

Uttar Pradesh

How to apply

Online

Financial aid

Old Age

Rs. 800/-

Widow

Rs. 500/-

Divyang

Rs. 500/-

Online portal

https://sspy-up.gov.in/EnglishPages/index_en.aspx

Official Helpline number

 

1800 419 0001

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Benefits of UP Pension Scheme

Following are the benefits of this scheme: 

  • Through this scheme, the older adults of the state will receive financial support every month.
  • The pension amount is credited to the bank's account holder, preventing any corruption from occurring.
  • There are options of different kinds of pension schemes for different categories of elderly people.
  • People of low class or people without money feel empowered with at least some money to maintain their self-esteem.
  1. Eligibility for Old Age Pension Scheme

    The Uttar Pradesh Government has proposed specific eligibility criteria for all those who want to participate in the scheme. The requirements are discussed below: 

    • The applicant should be a permanent resident of the state of Uttar Pradesh.
    • The applicant needs to be under the poverty line. Therefore, he needs to present a BPL card to prove that he belongs to the poverty line below.
    • People from the backward class of society can apply for this scheme. However, he should be from the economically weaker section of society.
    • If one is on any government job, he can not apply for this pension plan.
  2. Eligibility for Widow Pension Scheme

    • The applicant should be at least 18 years old.
    • She should be a resident of the State of Uttar Pradesh.
    • She is not availing pension from any other scheme run by State or Central government.
    • Her husband had died.
    • The applicant’s and her family’s annual income doesn’t exceed Rs. 2 lakhs. 
  3. Eligibility for Divyang Scheme

    • The applicant should be a resident of Uttar Pradesh.
    • For applying to the Divyang scheme, one should have proof of 40% disability.
    • The applicant should be 18 years or above.
    • The applicant belongs to a class below the poverty line.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Policy Beneficiaries

UP Pension Scheme comprises Old Age, Widow, and Divyang Pension Schemes. This scheme offers benefits to the adults of age 60 years and above, financially backward individuals, widows, and people with physical impairment or disability. 

The present data shows the number of beneficiaries who benefitted and the amount transferred for each scheme.

  1. Old Age pension disbursement summary

    Number of Beneficiaries

    Total Amount transferred (in crore)

    Quarter (1)

    49,87,054

    1246.00

    Quarter (2)

    51,21,454

    797.00

    Quarter (3)

    50,86,193

    771.00

    Quarter (4)

    47,25,450

    719.00

  2. Widow Pension disbursement summary

    Number of Beneficiaries

    Total Amount transferred (in crore)

    Quarter (1)

    26,06,213

    651.00

    Quarter (2)

    27,46,094

    435.00

    Quarter (3)

    27,95,373

    425.00

    Quarter (4)

    27,56,184

    427.00

  3. Divyang and Leprosy pension disbursement summary

    Number of Beneficiaries

    Total Amount transferred (in crore)

    Quarter (1)

    11,01,643

    278.00

    Quarter (2)

    11,00,057

    171.00

    Quarter (3)

    11,13,198

    173.00

    Quarter (4)

    11,15,353

    175.00

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Documents Required

To apply for pension schemes, one should keep the required documents handy. Following is the list of documents needed to apply for all three Schemes:

  • Proof of Age- Aadhaar card, Voter ID
  • Proof of Identity- Aadhaar card, Voter ID, Ration card
  • Bank Passbook for account information
  • Contact number
  1. Documents required for Old Age Pension scheme

    • Passport-size photo 
    • Applicant’s income certificate & above-mentioned documents
  2. Documents required for Widow Pension scheme

    • Passport-sized photo of the applicant
    • Death certificate of husband
    • Income statement Proof & above-mentioned documents
  3. Documents required for Divyang and Leprosy pension scheme

    • Applicant’s income certificate
    • Applicant’s disability or leprosy certificate
    • Gram Sabha proposal in the case of rural area and copy of bank passbook in case of the urban area & above mentioned documents.

How To Apply Online?

Follow the instructions below to apply for the UP pension scheme:

  • To apply online, one must visit the official website of the Uttar Pradesh government’s Integrated Pension Portal
  • The Home page will appear where you will have three options- Old Age Pension, Widow Pension, and Divyang and Leprosy Pension.
  • One can click on any of these three, whichever is applicable according to the need.
  • Upon clicking any one of them, one will find a link to the 'Apply online option.
  • Click the 'Apply online option. One will have to fill in this information:
  1. Personal information 

    • District
    • Name of Applicant
    • Gender
    • Date of Birth
    • Father’s/Husband’s name
    • Category- General/Minority/ OBC/ SC/ST/
    • Complete Address
    • Contact Number
  2. Bank details

    • Name of Bank
    • Name of Branch
    • Account number
    • IFSC code
  3. Income details

    • Income Application number
    • Income Certificate number

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Documents upload

After filling in this information, one has to upload a passport-sized photo and documents required for any one of these pension plans chosen by the applicant. 

Declaration

The next step is to tick the declaration box, where one has to declare that they are not taking any financial aid under any pension scheme launched by the Central or State government.

After ticking the Declaration box and filling Captcha code, submit your application. Your application is complete now.

FAQ's

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. 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.
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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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