Vridha Pension: How Can Senior Citizens In Bihar Apply For Mukhyamantri Vridhjan Pension Yojna?
The Mukhyamantri Vridhjan Pension Yojna is implemented by the Bihar government to provide financial assistance to senior citizens of the state.
The Mukhyamantri Vridhjan Pension Yojna is implemented by the Bihar government to provide financial assistance to senior citizens of the state.
Mukhyamantri Vridhjan Pension
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The central and state governments run various old-age pension schemes, some of which are run jointly and others independently. For example, the central government runs the National Social Assistance Programme (NSAP) to provide pensions and other benefits to senior citizens.
The Bihar government’s social welfare department implements the Mukyamantri Vridhjan Pension Yojna (MVPY) to provide financial assistance to senior citizens. The scheme was launched in 2019,and as of March 20, 2024, it has approved 47,05,354MVPY applications.
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The applicant must be a permanent resident of Bihar and must be 60 years of age or older. However, retired government employees receiving pensions and individuals receiving pensions from other social security schemes in the state are not eligible for MVPY.
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Under the scheme, senior citizenscan get a monthly pension of up to Rs 500, depending on their age. For example, those 60-79 years old will get a pension of Rs 400, and those 80 and older will get a pension of Rs 500.
The applicant must have the Electoral Photo Identity Card (EPIC) and Aadhaar card for address and age proof, bank account details, a passport-size photograph, and any other documents if required by the authorities.
Also Read: PFRDA Makes 2-Factor Authentication Mandatory In NPS From April 1, Know Details
Step 1: One can apply for the pension online by visiting the government’s official website, the Social Security Pension Management Information System (SSPMIS) portal.
Step 2: On the homepage, click ‘Register for PMVY’.
Step 3: A new page will open. Click ‘Register New beneficiary’, select district, block, and scheme name from the drop-down list and enter EPIC number, Aadhaar number, name, and date of birth.
Step 4: Click ‘Validate Aadhaar’. It will be digitally verified. Once it is done, click ‘Proceed’.
Step 5: The registration page will open. Fill in personal details, address, bank details, etc., and upload the documents and passport-size photograph.
Step 6: Read the terms and conditions, tick the box, and click ‘Submit application details’.
One can take a printout of the completed form for future reference. The registration process is complete and the form is submitted to the relevant panchayat for verification.
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E-labharti is an integrated pension information portal that allows the residents of Bihar to learn about different pension schemes and their benefits.
Both PPF and NPS offer good options for the self-employed to build a retirement corpus. But the choice of the right investment instrument would depend on a lot of factors, such as the time duration that you can give to your fund to grow, and the ability to make partial withdrawals, among others
Samajik Suraksha Pension Schemes or social welfare pension schemes help people plan their financial security post-retirement.
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