Andhra clears decks for Indias largest pension scheme

On Wednesday,Rosaiah held a review meeting of the scheme with officials at the Secretariat. It is proposed to distribute the policy certificates in all Mandals between November 1 and 10 through MLAs and public representatives concerned. The Chief Minister decided to release the governments contribution of Rs 15 crore per month on a regular basis. Out of the 50 lakh enrolled members,4.5 lakh have crossed 60 years and are now eligible to receive the pension from November.

The Chief Minister directed the officials to thoroughly verify the eligibility and other details of the 4.5 lakh immediate beneficiary members before issuing the sanction proceedings. He also directed that bank accounts be opened in the name of beneficiaries for payment of pension through biometric system to prevent malpractices. An MoU in this regard will be signed with LIC on October 27.

Abhayahastam is a co-contributory pension and insurance scheme for women members of self help groups in rural and urban areas formulated by the government to provide income and social security women so as to enable them to lead a secure life with dignity.