As per a 2023 report by the United Nations Population Fund, senior citizens form almost 10% of India’s total population. This is expected to rise to 14.9% by 2036.
The central government has several schemes for the welfare of Indian citizens who are 60 and above. Metrolife lists three of them.
Indira Gandhi National Old Age Pension Scheme
It is one of the five sub-schemes of the National Social Assistance Programme (NSAP). Citizens from the Below Poverty Line (BPL) category and those who are 60 years old or above are eligible to apply. It provides a monthly pension of Rs 200 for citizens up to 79 years of age and Rs 500 for those above 79.
How to apply: To sign up, download the UMANG app or visit web.umang.gov.in/web_new/home. You can log in using your mobile number and OTP. After logging in, look for the ‘NSAP’ tab and click ‘Apply Online’.
Documents required: Self-attested application form, a domicile certificate, residential proof (voter card/electricity bill/Aadhaar card), age proof (birth certificate), Aadhaar number, bank passbook and ration card. You also need an affidavit attested by a judicial magistrate or an executive magistrate, stating that the person is not receiving pension/financial assistance from any other source.
Rashtriya Vayoshri Yojana
This central government scheme is for BPL citizens over the age of 60. It helps in providing them with free aids and assisted-living devices. These include walking sticks, elbow crutches, walkers/crutches, tripods/quadpods, hearing aids, wheelchairs, artificial dentures, and spectacles.
The scheme is being implemented through Artificial Limbs Manufacturing Corporation (ALIMCO), which is a public sector undertaking under the Ministry of Social Justice and Empowerment. ALIMCO will provide one-year free maintenance of the aids and assisted-living devices.
How to apply: To sign up, visit alimco.in. Register on the site and fill in all the necessary details.
Documents required: Aadhaar or other proof of identity like passport, voter ID, and driving license, a BPL card, and proof of receiving money via pension-related schemes. You also need a certificate from a medical officer for loss of vision, hearing impairment, and locomotor disability.
Reverse Mortgage Loan
It is a scheme developed by the National Housing Bank (NHB) to help senior citizens avail of periodical payments from a lender against the mortgage of their house. In such cases, they remain the owner of the house. The applicants can take these loans for home improvement and repairs but also for
medical and other personal purposes. Citizens above 60 years of age can apply for the scheme. Married couples will be eligible as joint borrowers. The age criteria for the couple in such a case would be at the discretion of the Reverse Mortgage Loan lender, where at least one of them is above 60 years of age and the other not below 55 years of age.
How to apply: Go to websites of banking institutions like SBI, Bajaj Finserv, IDBI, Union Bank of India, Bank of Baroda, and Bank of India.
Documents required: These are listed on the said websites. Some of the common documents include proof of identity (such as PAN/passport/ voter ID card), and proof of income. You also need to furnish proof of address (such as a recent copy of telephone bill/ electricity bill/water bill/piped gas bill, or copy of the passport/ driving licence) and property papers such as a registered sale deed and an occupancy certificate.