Postal pension scheme

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No takers for Postal pension scheme



The new pension scheme authorised by the Finance Department and the services provided by the postal department have not found many takers in the state. The scheme, which came into effect last May, is open to all Indians between the age of 18 and 55.



The pension scheme has a two-tier provision. In the first tier, one can deposit a minimum of Rs 6,000 in a year in at least four instalments or Rs 500 per month. There would be no limit to subscriptions in any tier. The deposited amount would not be withdrawn prematurely under the first-tier system.



Under the two-tier system, a minimum of Rs 1,000 would have to be deposited and it would have the facility of premature withdrawals. It will work as a savings bank besides offering the benefit of pension.



Sources claimed the apathy is because head offices in the state failed to promote the scheme on a large-scale due to lack of funds. Things are changing now. Efforts are being made to spread awareness through posters and other promotions.



More information can be got at Navrangpura, Revdi Bazaar and Ahmedabad GPO office.

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