CM to launch 'Abhaya Hastham' scheme on Andhra Pradesh Formation day

Hyderabad, Oct 31 : Andhra Pradesh Chief Minister K Rosaiah will launch 'Dr YSR Abhaya Hastham,' pension-cum-insurance scheme at Chevella tomorrow.

It is for the first time that such a massive social security scheme providing pension, insurance and personal accident coverage for largest number of women is being launched in the country, according to an official release here today.

''The launching of the historical scheme on the State Formation Day will herald a golden chapter for elderly women,'' the Chief Minister said.

About 50 lakh members enrolled under the scheme had paid their annual contribution of Rs 365 each to the Mandal Samakhyas, which has been transferred to the LIC, the lead fund managers of the scheme.

The Government has already released its contribution and will release Rs 15 crore every month to the LIC towards its contribution for the scheme.

Of the 50 lakh enrolled members, 4.50 lakh members had already crossed 60 years and they will start getting their pensions from November itself.

Since the pension was for lifetime ranging between Rs 500 to Rs 2,200 per month to each beneficiary, Mr Rosaiah directed the officials to thoroughly verify the eligibility and other details of the 4.50 lakh immediate beneficiaries before issuing sanction orders, the release added.

--UNI

(c) 2009 Published with permission from United News of India.
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