Question : SWAVALAMBAN SCHEME

(a) the key features of the Swavalamban Scheme under the National Pension System (NPS) being implemented for the workers of unorganised sector along with the funds required for the purpose including the number of workers enrolled under the Scheme, State/UT-wise;

(b) whether the Government proposes to further extend the Scheme to bolster the retirement savings of the workers and if so, the details thereof including the additional funding by the Government as a result thereof; and

(c) the mechanism put in place by the Government to monitor the Scheme?

FINANCE MINISTER (SHRI ARUN JAITLEY)

(a) to (C): A Statement is laid on the Table of the House.

STATEMENT OF LOK SABHA STARRED QUESTION NO. 356 FOR ANSWER ON 01.08.2014 REGARDING `SWAVALAMBAN SCHEME` BY SHRI SHRIRANG APPA BARNE AND SHRI ADHALRAO PATIL SHIVAJIRAO

(a) The Swavalamban Scheme, a co-contributory pension scheme, was launched in September, 2010 to extend the coverage of National Pension Scheme (NPS) to the weaker and economically disadvantaged sections of the society and to encourage them to save voluntarily for their old age. The Scheme was launched with specifically targeted marginal investors The key feature of the Swavalamban Scheme are as under:

(i) The scheme is not applicable to:

a) a regular employee of the Central or a State Government, or an autonomous body/ PSU of the Central or a State Govt. having employer assisted retirement benefit scheme

b) those covered by any social security scheme under any of the laws namely -

 i. Employees` Provident Fund and Miscellaneous Provision Act, 1952 il. The Coal Mines Provident Fund and Miscellaneous Provisions Act, 1952 iii. The Seamen`s Provident Fund Act. 1966 iv. The Assam Tea Plantation Provident Fund and Pension Fund Scheme Act. 1955 v. The Jammu and Kashmir Employees` Provident Fund Act, 1961