Pranab launches pension scheme for unorganised sector

Union Finance Minister Pranab Mukherjee today launched a new pension scheme for workers in the unorganised sector who do not have access to the social security net. “I launched the scheme today to coincide with the 78th birthday of Prime Minister Manmohan Singh. This scheme will help those who are not covered under any social security scheme,” Mukherjee said after unveiling the programme at a function here in Murshidabad district.

Under the scheme named ‘Swabalamban’, the subscribers would get Rs 1,000 from the government each year for a subscription amount of Rs 12,000 per year. The particular scheme would remain valid for this financial year and for the next three consecutive fiscals.