“Dr YSR Abhaya Hastham” scheme to begin on A.P.Formation Day

Hyderabad|India|November'2009: “Dr YSR Abhaya Hastham” is a distinct Pension-cum-insurance scheme for the poor and low income women providing them dignity in the society and social empowerment. It is for the first time that such a massive pension scheme for largest number of women is being launched any where in the country. The “Dr.YSR Abhaya Hastham” is formalized in such a way that, it not only provides monthly pension but also insurance and personal accident coverage to all the beneficiaries . “The historical scheme will herald a golden period of pension and insurance for elderly women”, the Chief Minister, Rosaiah said.

The Chief Minister who will begin ‘Dr. YSR Abhaya Hastham’ scheme by handing over the Policy Certificates to the enrolled SHG members at Chevella on 1st November 2009 reviewed the arrangements made for its implementation through out the state. On this historic day Andhra Pradesh, a state with eight crore Telugu people, District-in-charge ministers will hand over the policy certificates to the eligible beneficiaries in their respective districts. About 50 lakh members have already been enrolled into the scheme and have paid their annual contribution of Rs.365/- each to the Mandal Samakhyas which has been already transferred to the LIC, the lead fund managers of the scheme.

Policy certificates will be distributed in all the Mandals from 1st to 10th November, 2009 through respective MLAs and other public representatives. The Government has already released its contribution and will hereafter release Rs.15 crores per month on a regular basis to the LIC towards its co-contribution to the scheme. Out of the 50 lakh enrolled members, 4,50,000 members have already crossed 60 years and they will start get their pensions from November this year itself .

However the Chief Minister directed the officials to thoroughly verify the eligibility and other details of the 4.5 lakh immediate beneficiary members before issuing the sanction proceedings since the pension is for a life time at the rate of Rs. 500/- to Rs.2,200 per month to each beneficiary . The Chief Minister has decided to issue the pension sanctions through the District Collectors.

The Government has renamed the scheme as ‘Dr.Y.S.R Abhaya Hastham’ to in memory of Dr.Y.S.Rajasekhara Reddy who visualized and introduced the scheme to all the SHG women of Andhra Pradesh. As authorized by the Government, the Society for Elimination of Rural Poverty (SERP) has identified LIC of India as a Fund Manager to manage the Pension Funds and management of individual pension accounts of the Abhaya Hastham beneficiaries.

During the interactions with the Self Help Group Members at various regional forums of "Mahila Samakhyas", the former Chief Minister, Late Dr.Y.S.Rajasekhara Reddy realised the need for providing economic sustenance to lead a dignified life at old age for the lakhs of SHG women. The beloved leader Dr. Y.S.Rajasekhara Reddy also recognized that mere savings of the SHG women will not suffice but that they need insurance linked pensions to provide them both security and dignity at old age. Considering all such factors he had mooted the proposal of SHG Co-contributory old age pensions scheme on 12th December 2008 at regional mahila forums. This proposal was then debated thoroughly by the Mahila Samakhyas across the length and breadth of the State and a request in this regard was made by them to the then Chief Minister Dr. YSR in a meeting held at Jubilee Hall, Hyderabad on 21st January 2009. Government of Andhra Pradesh had then formally announced its intention to launch a co-contributory pension scheme for the benefit of both urban and rural eligible Self Help Group members on 6th February 2009.

This scheme primarily acts as a social insurance programme for the women as well as their family members by providing protection against social issues like old age, disability, and death etc. The SERP and LIC have formally entered into a Memorandum of Understanding (MoU) for the effective and transparent implementation of the scheme for the benefit of Self Help Group women of Andhra Pradesh in the graceful presence of the Chief Minister, Mr.K.Rosaiah.

The women have reposed so much confidence in the State Government that they have deposited their annual contribution which has touched the mark of Rs.200 crores as of now. This is a testimony of poor women's confidence in the State Government and its welfare initiatives particularly for womenfolk in both urban and rural areas. LIC will manage a fund in such a way that best returns are secured to the women. LIC would give annual statement to every member regularly. Claims towards insurance, scholarships would be settled fast. The Infosys has also come forward to invest on rural Business Process Outsourcing (BPO) units and provide technical support in the management of Dr.YSR Abhaya Hastham scheme by setting up 22 rural BPOs.

The Chief Minister further directed the officials to keenly monitor the scheme and make it a grand success and ensure that the rural women get all the benefits of welfare schemes of the state government without any hardships.