Hyderabad, Oct 31: ‘Dr YSR Abhaya Hastham’ scheme being launched on Sunday is a distinct pension-cum-insurance scheme for the poor and low income women providing them dignity in society and social empowerment, the Chief Minister, Mr K Rosaiah, said here on Saturday.After reviewing the arrangements being made for the launch of the scheme from Chevella in Rangareddy district, the Chief Minister said that it is for the first time that such a massive pension scheme for largest number of women is being launched anywhere in the country.
The ‘Dr YSR Abhaya Hastham’ not only provides monthly pension but also insurance and personal accident coverage to all the beneficiaries, he added.The Chief Minister will hand over the policy certificates to the enrolled Self-Help Group (SHG) members at Chevella on Sunday, November 1, the State Formation Day. At the programmes to be organized in various districts, the district In-charge ministers will hand over the policy certificates to the eligible beneficiaries.About50 lakh members have already been enrolled into the scheme and have paid their annual contribution of Rs 365 each to the Mandal Samakhyas which has been already transferred to the Life Insurance Corporation (LIC), the lead fund managers of the scheme while the Government has already released its contribution. Policy certificates will be distributed to all the beneficiaries across the State from November 1 to 10 by the local legislators and other public representatives.
Of the 50 lakh enrolled members, 4.50 lakh have already crossed 60 years and they will start getting their pensions from this November itself.However, the Chief Minister directed the officials to thoroughly verify the eligibility and other details of the 4.5 lakh immediate beneficiaries before issuing the sanction proceedings since the pension is for a life time at the rate of Rs 500 to Rs.2,200 a month.The Government has renamed the scheme as ‘Dr.Y.S.R Abhaya Hastham’ in memory of the late Dr Y S Rajasekhara Reddy.
This scheme primarily acts as a social insurance programme for the women as well as their family members by providing protection against social issues like old age, disability and death etc. The SERP and LIC have formally entered into a Memorandum of Understanding (MoU) for the effective and transparent implementation of the scheme for the benefit of SHG women.