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10 Government Schemes Launched for the Benefit of Senior Citizens

10 Government Schemes Launched for the Benefit of Senior Citizens

Senior citizens in India are undeniably a vital part of the nation, with their wisdom and experience being invaluable to the younger generations and the economy in general. As such, understanding the senior citizen benefits that are available to the venerable elderly population of the country is an important topic that needs to be discussed.

From pension schemes and retirement benefits to healthcare and travel concessions, senior citizens can access a range of services and resources to help them lead a more comfortable and secure life in the arms of their motherland. That said, with ever-changing policies and regulations, it is critical to stay up-to-date on the latest senior citizen benefits available in India.

As life expectancy increases, the geriatric population in India is set to experience a dramatic increase. According to statistics given by trusted sources, by 2050, it is estimated that the elderly population will account for around a quarter of the total population. In this situation, savings play a critical role in making their lives merry and content.

As one's income diminishes during retirement, it becomes difficult to manage medical expenses. Elderly people are more prone to various ailments, and this increases the need for a steady flow of income to cover the costs of both treatment and prevention. In order to protect the rights of senior citizens and ensure their wellbeing, the Indian government has launched several schemes. The following are some of the best and top government schemes for senior citizens in India 2022 and 2023:

1. Pradhan Mantri Vaya Vandana Scheme

Source: Online Yojana

The Pradhan Mantri Vaya Vandana Scheme is a pioneering senior citizen welfare fund for Indian citizens over the age of 60. This pradhan mantri yojana for senior citizens is designed to provide financial security and assurance to the senior citizens of India.

It offers an attractive interest rate of 8% per annum, and pensioners can choose their own payment frequency: monthly, quarterly, half-yearly, or annually. The monthly minimum and maximum pension caps are Rs. 3,000 and Rs. 10,000, respectively. With this scheme, the government ensures that senior citizens' futures are secure and that they have the opportunity to live a dignified life.

In other words, the PM Vaya Vandana Yojana upsc is a government scheme designed to ensure the financial security of senior Indian citizens. This pension plan, administered by the Life Insurance Corporation (LIC) of India, offers a safe and secure post-retirement financial planning option.

Senior citizens can benefit from this welfare fund by receiving assured returns, tax benefits, and life insurance.

The scheme also offers the option of withdrawing a lump sum at the time of maturity or opting for a pension to meet regular expenses.


With PMVVY, senior citizens can enjoy a secure retirement with the added peace of mind that comes from being covered by government schemes for senior citizens. This senior citizen welfare fund provides a much-needed safety net for those who want to enjoy a comfortable life after retirement.

2. Indira Gandhi National Old Age Pension Scheme (IGNOAPS)

The Indira Gandhi National Old Age Pension Scheme (IGNOAPS) is a government-backed program in India that provides financial support to senior citizens. It is one of the most popular programs for elderly in the country. It is specifically designed for those aged 60 and older who fall below the poverty line as per government guidelines. Through this scheme, senior citizens can receive a pension of up to Rs. 200 per month if they are between the ages of 60 and 79 and up to Rs. 500 per month if they are over the age of 80. This important senior citizen benefit in India provides much-needed financial support to the elderly and helps them to lead a better quality of life. All in all, IGNOAPS is one of the many programs for the elderly available in India, and it is an essential part of the government's efforts to ensure the welfare and safety of senior citizens.

Source: NSAP

3. National Programme for the Health Care of Elderly (NPHCE)

The National Programme for Health Care of Elderly (NPHCE) was established in 2010 to offer senior citizens the advantages of preventive and promotive health care services. This initiative provides elderly citizens with access to health and wellness services so they can maintain their physical and mental wellbeing. In other words, the programme was launched to ensure that senior citizens are provided with the necessary medical care they require and to enable them to live healthier and more independent lives.

The NPHCE is committed to providing quality health care services to those living in district hospitals, community health centres (CHC), primary health centres (PHC), and sub-centres (SC) across the nation. The programme strives to facilitate access to necessary health care facilities and resources at all levels through the State Health Society. These senior citizen benefits from government or health facilities could be free or heavily subsidised, allowing the elderly population in the country to access quality health care services at reasonable prices.

Moreover, this programme is part of the government's senior citizen pension yojana and is a comprehensive program designed to ensure that senior citizens are provided with the necessary medical care they need. On the whole, our venerable senior citizens now have the opportunity to access quality health care services at a more affordable cost due to the implementation of the National Primary Health Care Expansion (NPHCE).

Source: NHP India

4. Varishta Mediclaim Policy

Souce: GIBL.IN

For elderly citizens in India, the Varistha Mediclaim Policy offers comprehensive health coverage and is one of the best national health programmes in India. This policy is customised to provide specialised medical care to senior citizens aged between 60 and 80 years. It covers the costs of medicine, blood transfusions, ambulance services, and other diagnosis-related charges. It is basically designed in a way that it can meet the unique needs of the elderly population in the nation and ensure their wellbeing.

Even though the policy is valid for a year, it can be renewed up to the age of 90 and comes with additional benefits, such as an income tax rebate under Section 80D. This policy is designed to promote the health and well-being of senior citizens. With the Varistha Mediclaim Policy, elderly citizens can avail quality healthcare services without having to worry about astronomical medical bills.

Long story short, this policy is a great way to secure the health of elderly citizens in India and provides them with much-needed financial support at a time when the cost of medical care is skyrocketing. It ensures that elderly citizens can enjoy their retirement without worrying about medical expenses or bills, as the government will provide coverage for them. This provides a sense of security and peace of mind, allowing them to relax and make the most of their leisure time.

5. Rashtriya Vayoshri Yojana

Source: india.gov.in

The Government of India has recently launched the Rashtriya Vayoshri Yojana, a government scheme for senior citizens over the age of 60. This initiative is designed to help those senior citizens living in poverty lead a more comfortable and independent life by providing physical aids and assisted-living devices. This scheme specifically targets those who belong to the Below Poverty Line (BPL) category, granting them much needed access to the resources and products that can help them in their everyday lives.

In addition, the central government is funding this scheme entirely, making it a "central sector scheme." In order to avail themselves of the benefits of this scheme, a senior citizen must have a BPL card. This scheme helps support and sustain the livelihood of senior citizens who are living below the poverty line. Moreover, it furnishes them with the essential and appropriate assistance and tools to enhance their quality of life and empowers them to live with respect and autonomy. Overall, the Rashtriya Vayoshri Yojana is an excellent government scheme for senior citizens above the sr citizen age of 60 who are living below the poverty line. It is an excellent initiative taken by the government of India to ensure the well-being of its citizens and to empower them to live a comfortable and independent life.

6. Varishta Pension Bima Yojana

Source: Department of Financial Services

This pension scheme, launched by the Ministry of Finance, is for senior citizens above 60 years. The LIC of India has the authority to operate this scheme. You don’t need to get any medical check-ups done to avail this policy. It offers assured pension with a guaranteed interest rate of 8% per annum for up to 10 years – you can opt for monthly, quarterly, half-yearly, and yearly pension – depends on how you’d like to receive it.

7. Senior Citizens' Welfare Fund

The government of India has recently established the Senior Citizens' Welfare Fund under the Ministry of Social Justice and Empowerment to ensure the welfare of its elderly citizens. This fund is intended to provide financial assistance to elderly citizens by tapping into the unclaimed sums from small savings and savings accounts in the government's schemes. The aim is to guarantee that seniors have the means to sustain their physical and mental health and wellbeing.

The scheme provides various government benefits to senior citizens, such as subsidised healthcare, financial assistance for medical treatments, and pensions for needy seniors. This government scheme for senior citizens is a welcome step for the welfare and protection of our elderly population and will ensure that no one is deprived of the basic necessities of life.

8. Vayoshreshtha Samman

Source: pib.gov.in

The Vayoshreshtha Samman is a prestigious government senior citizen award program in India that was established in 2012 to recognize and reward senior citizens for their significant contributions to their respective fields. This annual initiative of the Government of India was elevated to a national award in 2013, and since then, recognition has been given in thirteen distinct categories.

The district panchayats providing exemplary services and facilities to senior citizens will be rewarded with a citation, a memento, and a cash award of Rs. 10 lakh. Similarly, the best institution undertaking research in the field of ageing will receive a citation, a memento, and a cash award of Rs. 5 lakh. These awards aim to recognize and encourage the selfless service of individuals and institutions towards the welfare of the elderly.

The most esteemed institution for providing services to senior citizens and increasing awareness will be given a citation, a memento, and a cash award of Rs. 5 lakhs. This award will be presented to celebrated individuals aged 90 and above who are still active and independent, and making a valuable contribution to society. The awardee will also receive a citation, a memento, and a cash award of Rs. 2 lakh 50 thousand.

On the other hand, the Iconic Mother Award will be conferred on senior women citizens who, despite all hardships, raised their children and supported them in achieving great success in any field of their choice. The recipient of this award will be presented with a citation, a memento, and a cash award of Rs. 2 lakh fifty thousand. The Vayoshreshtha Samman is an incredible government senior award program that recognizes and rewards the hard work and dedication of seniors by recognizing their exemplary service. By awarding these individuals and institutions, the Government of India is showing its appreciation for those seniors who have made significant contributions to their respective fields.

9. Reverse Mortgage Scheme

The Reverse Mortgage Scheme is an innovative program designed to support senior citizens in India that was introduced in 2007 by the Indian Ministry of Finance. It is a loan scheme that enables senior citizens to mortgage their residential property in order to avail themselves of a loan of up to 60% of the value of the house. The loan must be maintained for a minimum period of 10 years. This scheme provides great financial assistance to senior citizens, enabling them to access funds from their homes without having to sell their property. This senior citizen loan program is a great way for retired individuals to access the funds they need for their daily or special needs.

This scheme provides seniors with a financial security blanket, allowing them to remain at home and maintain their independence despite facing economic challenges in their golden years. It also encourages seniors to remain within their local communities by providing them with access to funds that can be used to cover medical bills, utility bills, and other expenses. All in all, this scheme provides senior citizens with the financial security they need to live comfortably and with dignity.

10. Pradhan Mantri Jan Arogya Yojana

Source: National Health Authority

Pradhan Mantri Jan Arogya Yojana (PMJAY), launched by the Ministry of Health and Family Welfare in 2018, is an ambitious scheme that has revolutionised the healthcare system in India. It has provided coverage of up to Rs. 5 lakhs per family for secondary and tertiary hospitalisation to 10 crore people belonging to poor and vulnerable families.

With this scheme, the government has taken a major step towards making healthcare more accessible and affordable. In addition to PMJAY, the government of India has launched several other schemes that have been of great help to the elderly population in particular. These include schemes that aid in the planning of medical and other expenses. Such measures have given a much-needed boost to the healthcare system in India and have made it easier for people to access quality healthcare.


The Indian government has launched many schemes to benefit senior citizens living in the country. These (above-mentioned) schemes are designed to provide a range of benefits such as financial security, healthcare, access to pension schemes, and other social welfare benefits. Most of these schemes, or senior citizen benefits in India, have provided a much-needed lifeline to elderly citizens, helping them to live with dignity and financial security. The government has shown a great deal of commitment to providing a secure future for senior citizens and has taken several steps to ensure the welfare of this important segment of the population. The government's efforts in this regard are commendable and should be appreciated by all citizens of India. Do you have an opinion on this? Let us know in the comment section below! We'd love to hear from you!

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Seniority Pvt Ltd serves a wide range of products catering largely to the senior community. The products are specially curated keeping in mind the comfort and independence of senior citizens. From lifestyle to general wellness, these products aim at making the day-to-day life of the elders easy and hassle-free.

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