Social Security Schemes in Odisha – 2 Million & Still Counting

On Saturday Governor SC Jamir has launched the three Social security schemes in OdishaPradhan Mantri Suraksha Bima Yojana (PMSBY) and PM Jeevan Jyoti Bima Yojana (PMJJBY) & Atal Pension Yojana (APY).

These schemes by government of India have received a good response in the state with about two million enrollments under the insurance & pension schemes till date.

The Governor also said that these schemes are part of the financial inclusion program of the Centre which will help the poor & unorganised sector of people who are not covered under any kind of insurance or pension schemes.

Social Security Schemes in Odisha


UCO Bank, the convenor of the State Level Bankers’ Committee (SLBC) has organised a State level function at Kalinga Institute of Industrial Technology (KIIT) where these three schemes were launched.

These three social security schemes PMSBY, PMJJBY, APY were simultaneously launched at Bhubaneswar, Sambalpur and Berhampur. At the same time they were nationally launched at Kolkata by Prime Minister, Narendra Modi.

Union Minister of Odisha for Petroleum and Natural Gas, Dharmendra Pradhan said that as per the official data, as on 8th May, 1,371,998 people have been enrolled in the state under the PM Suraksha Bima Yojana. Whereas, the number of people registered under PM Jeevan Jyoti Bima Yojana scheme is 178,105.

“About two million people have joined the schemes in the state. Natural calamity prone states will be immensely benefited from the schemes,” said Dharmendra Pradhan.

For both PMSBY & PMJJBY, the risk coverage will be Rs 2 lakh.  Under Suraksha Bima yojana, Rs. 2 lakh is the coverage amount for accidental death and full disability and Rs 1 lakh for partial disability. The scheme is available to people in the age group of 18 to 70 years with a savings bank account. The annual premium is as low as Rs. 1 per day i.e. Rs 12 per annum. Read the complete details.

Jeevan Jyoti Bima Yojana is a life Insurance plan which provides a coverage of Rs 2 lakh for people in the age group of 18-50 years. They also need to have a savings bank account. Premium amount is Rs 330 per year. PMJJBY scheme is offered through Life Insurance Corporation of India. Other Life insurance companies also can join the scheme if they are willing to offer by tying up with banks. Read the complete details.

The third social security scheme Atal Pension Yojana is a pension scheme for the unorganised sector. After attaining the age of 60 years, APY provides fixed monthly pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, Rs 5,000 to the subscribers, depending on their contributions. The calculation of contribution is done as per the age of joining. The minimum & maximum age of joining the APY scheme is 18 years and 40 years. Read the complete details.

Women and Child Development minister Usha Devi, Chief Secretary GC Pati, local MP Prasanna Patsani and State and regional head of several commercial banks attended the launch program.

“The launching of the new schemes would substantially boost the efforts towards ensuring 100 per cent financial inclusion,” said chief secretary GC Pati on the occasion.