Context :

• Three major social security schemes {Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Atal Pension Yojana (APY)} have completed 11 years.

Key Points :

• Launch Date: 9 May 2015, by Prime Minister Narendra Modi
• Objective: To provide affordable insurance and pension facilities to the poor, underprivileged, and workers in the unorganized sector.
• Aim of the Schemes: To expand insurance and pension coverage by protecting citizens from life uncertainties and promoting long-term financial stability.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) :

• Launch Date: 9 May 2015
• Objective: To provide life insurance coverage at a low premium
• Premium Amount: ₹436 per member
• Age Limit: 18 to 50 years
• Insurance Cover: ₹2 lakh (payable on death)
• Insurer: Life Insurance Corporation (LIC) and other private insurance companies
• Account Requirement: Savings bank account with auto-debit facility
• Duration: Renewable every year from 1 June to 31 May

Achievements :

• As of 29.04.2026, total enrolments under PMJJBY crossed 27.43 crore and ₹21,512.50 crore has been paid against 10,75,625 claims.
• • As of 29.04.2026, 12.72 crore women have enrolled under the scheme, and 8.09 crore PMJDY account holders have enrolled in PMJJBY.

Pradhan Mantri Suraksha Bima Yojana (PMSBY) :

• Launch Date: 9 May 2015
• Objective: To provide accidental insurance coverage
• Premium Amount: ₹20 per year
• Age Limit: 18 to 70 years

Insurance Cover :

• ₹2 lakh on death or total disability
• ₹1 lakh on partial permanent disability
• Insurer: Public and private sector insurance companies
• Account Requirement: Savings bank account with auto-debit facility
• Duration: Renewable every year from 1 June to 31 May

Achievements :

• As of 29.04.2026, total enrolments under PMSBY crossed 58.09 crore and ₹3,667.52 crore has been paid against 1,84,662 claims.
• As of 29.04.2026, 27.45 crore women have enrolled under the scheme, and 19.30 crore PMJDY account holders have enrolled in PMSBY.

Atal Pension Yojana (APY) :

• Launch Date: 9 May 2015
• Objective: To provide social security to workers in the unorganized sector
• Beneficiary Age Limit: 18 to 40 years (minimum contribution period of 20 years)
• Eligibility: Only non-income-tax-paying Indian citizens
• Retirement Age: 60 years

Available Pension Slabs :₹1,000, ₹2,000, ₹3,000, ₹4,000, and ₹5,000 per month

• Regular Contribution: Monthly/quarterly/half-yearly contribution by the beneficiary
• Government Contribution: Available for a limited period in the initial years, now discontinued
• Managed By: Pension Fund Regulatory and Development Authority (PFRDA)
• Nominee Facility: Available (spouse is the default nominee; after the death of both, the nominee receives the amount)
• The Union Cabinet has approved continuation of the scheme till FY 2030-31.

Other Social Security Schemes :