UPSC EPFO EO/AO & APFC • RBI Grade B • NABARD Grade A • PFRDA Grade A
⚡ Quick Answer & AI Exam Snapshot (TL;DR)
Social Security Schemes in India form a 10-to-15-mark syllabus cluster across UPSC EPFO EO/AO & APFC, RBI Grade B Phase-2, NABARD Grade A, and PFRDA Grade A. Every aspirant must memorize the exact Age Band, Premium/Contribution, Risk Cover/Monthly Pension, and recent 2024–2026 Cabinet Updates across 8 flagship schemes: (1) PMJJBY (9 May 2015, Kolkata — Age 18–50, ₹2 Lakh Life Cover, Revised Premium ₹436/year, 30-day Lien Period); (2) PMSBY (9 May 2015 — Age 18–70, ₹2 Lakh Accidental Death/Total Disability & ₹1 Lakh Partial Disability, Revised Premium ₹20/year); (3) Atal Pension Yojana [APY] (9 May 2015 — Age 18–40, ₹1,000 to ₹5,000/month pension at 60; Income-Tax payers barred since 1 Oct 2022!); (4) PM-SYM, PM-KMY & NPS-Traders (Age 18–40, ₹55 to ₹200/month matched 1:1 by Govt for ₹3,000/month pension at 60); (5) Ayushman Bharat PM-JAY (23 Sept 2018, Ranchi — ₹5 Lakh/family/year; Expanded in Sept 2024 to ALL Senior Citizens aged 70+ regardless of income with an additional ₹5 Lakh top-up via Ayushman Vaya Vandana Card!); and (6) e-Shram Portal (26 Aug 2021 — 12-digit UAN for unorganized workers aged 16–59).
1. The Jan Suraksha Trio (Launched 9 May 2015 at Kolkata): PMJJBY, PMSBY & Atal Pension Yojana (APY)
Memorize every parameter in this comparison table — the revised premiums (effective 1 June 2022), pro-rata quarterly rates, lien period, and tax-payer exclusion are tested in every UPSC EPFO and RBI Grade B exam:
| Parameter | PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) | PMSBY (Pradhan Mantri Suraksha Bima Yojana) | APY (Atal Pension Yojana — Replaced Swavalamban) |
|---|---|---|---|
| Launch Date, Venue & Nodal Dept | All three launched simultaneously on 9 MAY 2015 at Kolkata by the Prime Minister. Nodal Ministry: Department of Financial Services (DFS), Ministry of Finance (APY is administered by PFRDA). |
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| Eligible Entry Age & Coverage Termination Age | Entry: 18 to 50 YEARS Life cover continues up to Age 55 (provided joined before 50 and renewed annually)! |
Entry & Cover: 18 to 70 YEARS | Entry: 18 to 40 YEARS Minimum contribution period: 20 Years (Pension starts at Age 60). |
| Policy Year & Revised Annual Premium (Auto-Debited by 31 May) | 1 June to 31 May (1-year renewable term life cover) Revised Premium: ₹436 per annum (increased from ₹330 on 1 June 2022 — works out to ₹1.25/day!). Pro-Rata Quarterly Enrolment Premium: • Jun–Jul–Aug: ₹436 • Sep–Oct–Nov: ₹342 • Dec–Jan–Feb: ₹228 • Mar–Apr–May: ₹114 |
1 June to 31 May (1-year renewable personal accident cover) Revised Premium: ₹20 per annum (increased from ₹12 on 1 June 2022 — full ₹20 charged even if joining mid-year!). |
Monthly / Quarterly / Half-Yearly auto-debit depending on entry age (18–40) and chosen pension slab: • For ₹1,000 pension: ₹42/month at age 18 to ₹291/month at age 40. • For ₹5,000 pension: ₹210/month at age 18 to ₹1,454/month at age 40. |
| Risk Cover / Guaranteed Benefit & Exam Traps | • ₹2,00,000 (₹2 Lakh) on death due to ANY cause (natural, illness, accident, or suicide). • 30-Day Lien Period (Waiting Period): For new enrollees, no claim is admissible for death (other than due to accident) occurring during the first 30 DAYS from enrolment! |
• ₹2,00,000 (₹2 Lakh) for Accidental Death OR Total & Irrecoverable Loss of both eyes / both hands or feet / one eye and one limb. • ₹1,00,000 (₹1 Lakh) for Total & Irrecoverable Loss of sight of ONE eye or use of ONE hand or foot. (Zero Lien Period — accident cover starts Day 1!). |
• Guaranteed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 at Age 60. • On subscriber’s death → Same pension to Spouse; on death of both → Full Corpus (₹1.70 Lakh to ₹8.50 Lakh) returned to Nominee! • Crucial Rule (Effective 1 Oct 2022): Any citizen who is or has been an Income-Tax Payer is STRICTLY INELIGIBLE to open a new APY account! |
2. The ₹3,000/Month Contributory Pension Trio (PM-SYM, PM-KMY & NPS-Traders) & e-Shram Portal
The 3 Contributory ₹3,000/Month Pension Schemes (Identical 18–40 Age & ₹55–₹200 Matching Contribution Structure!):
All three schemes share the exact same core design:
• Entry Age: 18 to 40 YEARS.
• Monthly Contribution: ₹55 per month (at entry age 18) to ₹200 per month (at entry age 40) (₹100/month at median age 29), with a 100% Equal (50 : 50) Matching Contribution by the Central Government!
• Pension Benefit at Age 60: Assured minimum pension of ₹3,000 PER MONTH (with 50% Family Pension [₹1,500/month] ONLY to the Spouse upon the subscriber’s death after 60!).
• Fund Manager: Life Insurance Corporation of India (LIC).
• Exclusions Across All 3: Must NOT be an Income-Tax payer and must NOT be covered under EPFO, ESIC, or NPS.
All three schemes share the exact same core design:
• Entry Age: 18 to 40 YEARS.
• Monthly Contribution: ₹55 per month (at entry age 18) to ₹200 per month (at entry age 40) (₹100/month at median age 29), with a 100% Equal (50 : 50) Matching Contribution by the Central Government!
• Pension Benefit at Age 60: Assured minimum pension of ₹3,000 PER MONTH (with 50% Family Pension [₹1,500/month] ONLY to the Spouse upon the subscriber’s death after 60!).
• Fund Manager: Life Insurance Corporation of India (LIC).
• Exclusions Across All 3: Must NOT be an Income-Tax payer and must NOT be covered under EPFO, ESIC, or NPS.
How the 3 Schemes Differ (Nodal Ministry, Launch Date & Income/Land Cap):
1. PM-SYM (Pradhan Mantri Shram Yogi Maan-Dhan Yojana — Launched Feb/March 2019):
— Nodal Ministry: Ministry of Labour and Employment (MoLE).
— Target Group: Unorganized sector workers (street vendors, rickshaw pullers, construction workers, domestic workers, gig workers) with Monthly Income ≤ ₹15,000!
2. PM-KMY (Pradhan Mantri Kisan Maan-Dhan Yojana — Launched 12 Sept 2019 at Ranchi):
— Nodal Ministry: Ministry of Agriculture and Farmers Welfare.
— Target Group: Small and Marginal Farmers (SMFs) owning cultivable land up to 2 Hectares (farmers can opt to have their monthly contribution auto-debited directly from their PM-KISAN ₹6,000 annual instalment!).
3. NPS-Traders (National Pension Scheme for Traders and Self-Employed Persons / PM Laghu Vyapari Maan-Dhan — Launched Sept 2019):
— Nodal Ministry: Ministry of Labour and Employment (MoLE).
— Target Group: Retail traders, shopkeepers, and self-employed persons with Annual Turnover ≤ ₹1.50 Crore!
- e-Shram Portal (National Database of Unorganised Workers — Launched 26 August 2021 by Ministry of Labour & Employment):
- Eligibility: Any unorganized worker aged 16 to 59 YEARS who is not a member of EPFO/ESIC and not an income-tax payer.
- Unique ID: Issues an e-Shram Card carrying a 12-Digit Universal Account Number (UAN) valid across India for life. Over 30 Crore+ unorganized workers registered across 400+ occupations; upgraded into the ‘e-Shram – One-Stop-Solution’ (launched Oct 2024) integrating 12+ central welfare schemes, NCS (National Career Service), and SIDH (Skill India Digital Hub) on a single portal!
3. Ayushman Bharat PM-JAY (Expanded to All 70+ Seniors in Sept 2024!), NSAP & PM-SVANidhi
| Flagship Social Security Scheme | Launch Date & Nodal Ministry | Exact Coverage, 2024–2026 Updates & Exam Triggers |
|---|---|---|
| Ayushman Bharat — Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) Ministry of Health & Family Welfare (Implemented by National Health Authority — NHA) |
23 September 2018 (Launched at Ranchi, Jharkhand) Senior Citizen 70+ Expansion Approved: 11 Sept 2024 / Launched 29 Oct 2024 |
• Core Cover: World’s largest publicly funded health assurance scheme providing ₹5,00,000 (₹5 Lakh) per family per year on a family floater basis (zero cap on family size or age) for Secondary and Tertiary Care Hospitalization (covering 3 days pre-hospitalization and 15 days post-hospitalization expenses; 100% cashless and cover-from-Day-1 for all pre-existing diseases!). • Expanded Beneficiaries: Initially 10.74 Cr SECC families → Expanded to 12 Cr families (~55 Cr citizens) + 37 Lakh ASHA Workers, Anganwadi Workers (AWWs), and Anganwadi Helpers (AWHs) and their families (added in Interim Budget 2024–25)! • MAJOR 2024 EXPANSION — Ayushman Vaya Vandana Card for ALL Senior Citizens Aged 70+ Years: — Covers ALL Senior Citizens aged 70 YEARS AND ABOVE (~6 Crore seniors in 4.5 Crore families) IRRESPECTIVE OF THEIR SOCIO-ECONOMIC / INCOME STATUS! — Senior citizens aged 70+ belonging to families already covered under AB PM-JAY receive an ADDITIONAL Shared Top-Up Cover of up to ₹5,00,000 (₹5 Lakh) per year exclusively for themselves (bringing their family’s total cover to ₹10 Lakh)! — Seniors aged 70+ covered under CGHS, ECHS, or Ayushman CAPF can choose either their existing scheme or AB PM-JAY, while those with ESIC or Private Health Insurance ARE ELIGIBLE to avail AB PM-JAY alongside their existing cover! |
| National Social Assistance Programme (NSAP) Ministry of Rural Development (MoRD) |
15 August 1995 (Operationalizes Article 41 of DPSP) | 100% Central Sector BPL Social Pension Scheme comprising 5 Sub-Schemes: 1. IGNOAPS (Indira Gandhi National Old Age Pension Scheme): Central share ₹200/month for age 60–79 years and ₹500/month for age 80+ years. 2. IGNWPS (Indira Gandhi National Widow Pension Scheme): ₹300/month for widows aged 40–79 years and ₹500/month for 80+ years. 3. IGNDPS (Indira Gandhi National Disability Pension Scheme): ₹300/month for severe/multiple disability (≥80%) aged 18–79 years and ₹500/month for 80+ years. 4. NFBS (National Family Benefit Scheme): One-time lump sum of ₹20,000 to a BPL household on the death of the primary breadwinner aged 18–59 years. 5. Annapurna Scheme (2000): 10 kg of free foodgrains per month to indigent senior citizens (65+) who are eligible for IGNOAPS but remain uncovered. |
| PM-SVANidhi (PM Street Vendor’s AtmaNirbhar Nidhi) Ministry of Housing and Urban Affairs (MoHUA) |
1 June 2020 (Implemented by SIDBI) | Collateral-free working capital micro-credit to urban street vendors in 3 Progressive Tranches: • 1st Loan: ₹10,000 (1 year tenure) → 2nd Loan: ₹20,000 → 3rd Loan: ₹50,000! • Provides 7% per annum Interest Subvention on timely repayment + up to ₹1,200/year Cashback for Digital UPI Transactions + ‘SVANidhi se Samriddhi’ (converging 8 central social security schemes including PMJJBY, PMSBY, PM-JAY, PM-SYM, and ONORC for the vendor’s family) + UPI-Linked RuPay Credit Card with ₹30,000 limit announced in Union Budget 2025–26! |
🎯 High-Yield Exam One-Liners (Last-Minute Revision Box)
- PMJJBY, PMSBY, and Atal Pension Yojana (APY) were launched simultaneously on 9 May 2015 at Kolkata under the Department of Financial Services (DFS), Ministry of Finance.
- PMJJBY covers individuals aged 18 to 50 years (coverage continues up to age 55), providing ₹2 Lakh death cover (any cause) at a revised annual premium of ₹436 (1 June to 31 May policy year).
- For new enrollees in PMJJBY, there is a 30-day Lien (Waiting) Period during which non-accidental death claims are not admissible.
- PMSBY covers individuals aged 18 to 70 years, providing ₹2 Lakh for accidental death/total permanent disability and ₹1 Lakh for partial permanent disability at a revised annual premium of ₹20.
- Atal Pension Yojana (APY, administered by PFRDA) covers citizens aged 18 to 40 years and provides a guaranteed monthly pension of ₹1,000 to ₹5,000 at age 60.
- Effective 1 October 2022, any citizen who is or has been an Income-Tax payer is strictly barred from opening a new Atal Pension Yojana (APY) account.
- In APY, upon the death of the subscriber after age 60, the spouse receives the exact same 100% pension, and upon the death of both, the entire corpus (₹1.70 Lakh to ₹8.50 Lakh) is returned to the nominee.
- In contrast, under PM-SYM, PM-KMY, and NPS-Traders (all paying ₹3,000/month at age 60 for 18–40 age group with ₹55–₹200 monthly contribution matched 1:1 by Govt), the spouse receives only 50% (₹1,500/month) as Family Pension and there is NO return of corpus to nominees.
- PM-SYM covers unorganized workers with monthly income <= ₹15,000; PM-KMY covers Small & Marginal Farmers (<2 ha); and NPS-Traders covers retail traders with annual turnover <= ₹1.50 Crore.
- Life Insurance Corporation of India (LIC) is the official Pension Fund Manager for PM-SYM, PM-KMY, and NPS-Traders.
- The e-Shram Portal (launched 26 August 2021 by the Ministry of Labour & Employment) registers unorganized workers aged 16 to 59 years and issues a lifelong 12-digit Universal Account Number (UAN).
- Ayushman Bharat PM-JAY (launched 23 September 2018 at Ranchi, implemented by NHA) provides ₹5 Lakh per family per year for secondary and tertiary hospitalization (including 3 days pre- and 15 days post-hospitalization).
- In September/October 2024, Ayushman Bharat PM-JAY was expanded via the ‘Ayushman Vaya Vandana Card’ to cover ALL Senior Citizens aged 70 years and above, irrespective of their income or socio-economic status.
- Under the 70+ expansion of AB PM-JAY, senior citizens aged 70+ in families already covered under PM-JAY receive an additional exclusive top-up cover of ₹5 Lakh per year (taking total family cover to ₹10 Lakh).
- Senior citizens aged 70+ who already have ESIC or private health insurance ARE eligible to avail the ₹5 Lakh cover under Ayushman Bharat PM-JAY.
- The National Social Assistance Programme (NSAP, launched 15 August 1995 by MoRD under Article 41 of DPSP) comprises 5 sub-schemes: IGNOAPS, IGNWPS, IGNDPS, NFBS (₹20,000 lump sum), and Annapurna (10 kg free foodgrains).
- PM-SVANidhi (launched 1 June 2020 by MoHUA, implemented by SIDBI) provides 3 progressive collateral-free working capital loans of ₹10,000, ₹20,000, and ₹50,000 with 7% interest subvention, ₹1,200/year UPI cashback, and a ₹30,000 UPI-linked RuPay Credit Card (Budget 2025–26).
📝 UPSC & Regulatory Level Practice MCQs (With Detailed Solutions)
Q1. Under the landmark expansion of Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) launched in October 2024 via the ‘Ayushman Vaya Vandana Card’, which of the following statements is CORRECT?
Correct Answer: (B) — Under the AB PM-JAY expansion for Senior Citizens (70+ years), all citizens aged 70 and above are eligible for ₹5 Lakh/year family floater health cover regardless of income. Seniors aged 70+ in families already under AB PM-JAY get an additional ₹5 Lakh/year top-up for themselves. Seniors under CGHS/ECHS/CAPF must choose one, whereas those with ESIC or private health insurance can avail AB PM-JAY alongside their existing cover.
Q2. Match the revised annual premiums (effective 1 June 2022), eligible entry age bands, and lien periods of (i) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and (ii) Pradhan Mantri Suraksha Bima Yojana (PMSBY):
Correct Answer: (B) — Effective 1 June 2022, PMJJBY (Entry age 18–50 years, cover renewable up to 55) has an annual premium of ₹436 and a 30-day lien (waiting) period for non-accidental death for new enrollees. PMSBY (Age 18–70 years) has an annual premium of ₹20 for ₹2 Lakh accidental death/total disability cover (₹1 Lakh partial disability) with zero lien period.
Q3. How does the ‘Family Pension / Death After Age 60’ provision under Atal Pension Yojana (APY) differ from that under Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM)?
Correct Answer: (B) — This is a classic UPSC EPFO and RBI Grade B trap! Under Atal Pension Yojana (APY), upon the subscriber’s death after age 60, the spouse receives 100% of the same monthly pension, and upon the death of both subscriber and spouse, the entire accumulated pension wealth (₹1.70L to ₹8.50L) is returned to the nominee. Under PM-SYM (as well as PM-KMY and NPS-Traders), the spouse receives only 50% of the pension (₹1,500/month) as family pension, and after the death of both, the corpus is credited back to the Pension Fund (no corpus return to children/nominees).
Q4. Under the e-Shram Portal launched on 26 August 2021 by the Ministry of Labour and Employment to create a National Database of Unorganised Workers, what is the eligible age bracket for registration, and how many digits are in the Universal Account Number (UAN) issued on the e-Shram card?
Correct Answer: (B) — Any unorganized sector worker aged 16 to 59 years (who is not a member of EPFO/ESIC and is not an income-tax payer) can register on the e-Shram Portal and receives an e-Shram card with a lifelong 12-digit Universal Account Number (UAN).
Q5. Under PM-SVANidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi), which institution serves as the Technical Implementation Partner, what are the 3 progressive collateral-free working capital loan tranches, and what new credit facility was announced for PM-SVANidhi beneficiaries in Union Budget 2025–26?
Correct Answer: (B) — SIDBI is the implementation partner for PM-SVANidhi (MoHUA). It offers collateral-free working capital loans in 3 tranches of ₹10,000, ₹20,000, and ₹50,000 (with 7% interest subvention and up to ₹1,200/year cashback on digital transactions). Union Budget 2025–26 revamped the scheme with enhanced loans from banks and UPI-linked RuPay Credit Cards with a ₹30,000 limit.
❓ Frequently Asked Questions (Exam FAQs)
Q: What are the pro-rata quarterly premium amounts if a bank customer enrols in PMJJBY for the first time in October or January?
Since the PMJJBY policy year runs from 1 June to 31 May, first-time enrollees pay a pro-rata premium based on the quarter of joining: ₹436 in June–July–August (Full Year), ₹342 in September–October–November (3 Quarters), ₹228 in December–January–February (2 Quarters), and ₹114 in March–April–May (1 Quarter). All subsequent annual renewals in May cost ₹436.
Q: Can a Small and Marginal Farmer pay their monthly PM-KMY (Pradhan Mantri Kisan Maan-Dhan Yojana) contribution directly from their PM-KISAN benefit?
Yes! Farmers enrolling in PM-KMY (₹55 to ₹200/month depending on entry age 18–40) can choose to have their monthly pension contribution auto-debited directly from the ₹6,000 annual benefit they receive under the PM-KISAN Samman Nidhi scheme, so they do not have to pay anything out of pocket.
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