ABOUT ABHAYA HASTHAM
Government of Andhra Pradesh introduced Velugu Pension and Insurance Scheme for the
(Rural and Urban) SHG women in November 2009 to provide income security
in their old age. The aim was to provide security to all enrolled SHG women with dignity in their old age.
This scheme works in principal of contribution amount Rs. 365 per annum by the SHG woman
and Government co contribution amount Rs. 365 per annum into her pension amount. The interest that earned from corpus generated for each member
till the completion of 60 years of her age is used for giving monthly pension from Rs. 500 to
Rs. 2200 based on the age of the member. Each enrolled member under the scheme is
entitled to get minimum pension of Rs. 500 after completion of 60 years of her age and all the
enrolled members between age group of 18 to 59 years are eligible to get Insurance coverage
under JBY scheme.