What is an Old Age Pension?
Introduced in 2007, the Old Age Pension Scheme or Indira Gandhi National Old Age Pension Scheme is one of the five sub-schemes of the National Social Assistance Programme (NSAP). The other sub-schemes under NSAP include:
- Indira Gandhi National Widow Pension Scheme
- Indira Gandhi National Disability Pension Scheme
- National Family Benefit Scheme
- Annapurna Scheme.
Indira Gandhi National Old Age Pension Scheme aims to offer basic financial aid to senior citizens with little to no regular means of subsistence or financial support.¹
Regular income ensures covering the costs of essentials like medicines. Plus, this is a non-contributory scheme, so there’s no need for your contribution.
Under this scheme:
- Senior citizens aged between 60 and 79 years receive ₹200 per month.
- Citizens aged 80 and above receive ₹500.
- State governments and UTs may add a top-up amount to this basic income to ensure a decent level of assistance for the beneficiaries.4 For instance, the Bihar government raised the monthly pension for senior citizens, widows, and persons with disabilities from ₹400 to ₹1,100.³
The scheme's benefits make it important to check the old age pension status. This comes in handy for payment verification, grievance resolution via helplines, and pension offices.
Eligibility Criteria for Old Age Pension in India
It is important to check the eligibility requirements of the scheme. Checking these in advance ensures you're well-prepared, save time, and reduce the chances of application rejections.
Here is the old age pension eligibility criteria you might watch out for.¹
- The applicant must be an Indian citizen.
- The applicant should be at least 60 years of age.
- The applicant should be living below the Poverty Line.
Benefits of Old Age Pension Plan
With the old age pension scheme, senior citizens living below the poverty line have access to a regular, guaranteed safety net. Here’s what the scheme provides:
Income Support
This pension plan provides a regular, predictable income that helps with basic essential expenses like medicine, groceries, etc.
Social Security
The old age pension scheme acts as a basic support for financially vulnerable seniors, protecting them from extreme neglect and poverty.
Complements Other Welfare Schemes
The scheme works alongside other government healthcare and security programs that ensure broader protection.
Peace of Mind
With such a plan, pensioners as well as their families are assured of a modest yet reliable income.
Timely Updates
With features like checking old pension status online, individuals can verify payments.
Pro Tip: With regular support, one may combine these benefits with savings, other schemes, or family income to have a more stable retirement planning.
Step-by-Step Guide: How to Check Old Age Pension Status Online
Now that you've read the several benefits of old pension status, let's move forward. If you've read this far, you might already be asking, How to check old age pension status online. Well, there are several ways to do it. Consider having a look.
Using the NSAP Portal
Consider visiting the official website of the National Social Assistance Programme (NSAP). Now, at the bottom of the page, find the most often used services. Here, choose the option “track pension payment status". Next, choose search by “sanction or application number", and fill in the same. Enter the “captcha code" and submit to view the Vridha Pension Status.⁵
Note: Vridha pension is the term used by several state governments for their old-age pension scheme.
Using the UMANG App
For central government schemes like this, you may also use the UMANG app to directly track your pension status.
State Portals for State-Level Schemes
Several states have their online portals that allow you to easily check the status of State-level pension schemes.
How to Check Old Age Pension Status Using PRAN Number?
You need a PRAN number only to check your NPS (National Pension Scheme) status and not for other pensions. It is a unique 12-digit issued to NPS subscribers.
Checking Old Age Pension Status with Aadhar Card
Wondering if you can check the old age pension status online with Aadhar? Yes, you can. However, you might not be able to do it directly with the NSAP Portal. Instead, Aadhar can be used for quick old age pension status checks via the state portals. For instance, several state governments, such as Haryana and Bihar, allow you to check the pension status online with Aadhaar.
Alternative Offline Methods to Check Old Age Pension Status
Looking for ways to check your old age pension status offline? Here are some ways you may do it.
Bank Statements
In case your pension is directly deposited into your bank account, you may check your pension status via your bank statements. Consider checking transaction details.
Local Office Interventions
Pensioners can also visit local social welfare offices or block development offices to check pension status offline.⁶
Other Pension Plans for Senior Citizens in India
In addition to the Indira Gandhi Old Age Pension Scheme, the government has several other pension plans to help senior citizens have a secure life even after retirement.
Atal Pension Yojana
Atal Pension Yojana was introduced in 2015 for workers in the unorganised sector. Under this scheme, the beneficiaries receive a minimum monthly pension ranging between ₹1000 to ₹5000 as per their contribution.⁷
This is a co-contributory scheme that helps with a fixed, predictable income.
National Pension System
The National Pension System is another popular scheme open to all individuals between the ages of 18 and 70.⁸ Under this scheme, you may make contributions during your working life so that a monthly pension or lump sum amount can be used post-retirement.
Tip: You may track your NPS account and enjoy its other digital services with a unique 12-digit Permanent Retirement Account Number (PRAN).
Tax Benefits Related to Old Age Pension in India
Curious to know more about the tax benefits of these old-age pension schemes. Well, here is what you might need to know:
Tax Benefits under NPS
Tax benefits of up to 10% of salary under section 80CCD(1) not exceeding the limit of ₹1.5 lakhs under 80 CCE on self-contribution. Also, eligible for tax exemptions on annuity purchase on reaching the age of 60 under section 80 CCD(5).⁹
Tax Benefits on Pension
A commuted pension that is received as a lump sum amount is eligible for tax exemptions for government employees. A commuted pension received by a non-government employee is eligible for partial exemption depending on the individual's gratuity. However, an uncommuted pension is taken on a periodical or monthly basis. It is taxable as salary under the Income Tax Act.2
Tips for Secure and Efficient Pension Management Online
Pension management in this digital era has become much easier. Here is how to do it with access to the right tools and authentic portals.
Regular Tracking with Official Portals
Regularly track your pension status to check payments and discrepancies related to these retirement plans. Consider using official government portals or websites for the same.
Online Updates
You may also check for online updates on social media handles about different schemes and updates on their rules and pension amounts.
Online Grievance Portals
Online platforms like state grievance portals or the Centralised Public Grievance Redress and Monitoring System (CPGRAMS) can be used to file complaints or queries.
Digitise Important Documents
Consider storing important documents like Aadhar, PRAN, etc, digitally. This way, you can easily access it to check your payment details anytime you need.
Pension Estimation with Retirement Calculator
With schemes like NPS, individuals may estimate their pension to have a rough estimate of their corpus amount.
Tip: You may use a retirement calculator to estimate your pension. It's quick and easy to use. You simply need to fill in details like age, expected expenses, and inflation rate. This helps you calculate the estimated retirement corpus and monthly pension estimation for retirement planning.
Key Takeaway
- An old-age pension is a government-supported scheme to support senior citizens living below the poverty line.
- It provides periodic, non-contributory income.
- Pension plans help with income support, healthcare assistance, and peace of mind.
- You may check pension status online via NSAP, UMANG, or Aadhar.
- Offline methods to check pension status include local banks, post offices, and SMS services.
- Pension under NPS is eligible for tax benefits.
Conclusion
The old age pension scheme helps senior citizens with basic financial aid, securing them from extreme neglect or poverty. By understanding its eligibility requirements, application criteria, and process to check pension status, retirees may support their later years without being a burden on anyone. Consider using online tools and easy management tips to maximise your retirement plans.
FAQs
How do I check my old age pension status online?
You may check your old age pension status online via different portals. Some of these include NSAP portals, the UMANG app, the PRAN number. Further, you can use Aadhaar for tracking the status of pension schemes by state governments.
What documents are required to check the old-age pension status?
If you're checking your old-age pension status with PRAN, it is important to have a Permanent Retirement Account Number to securely access the official website of the Central Recordkeeping Agency.
Can I check my pension status through my mobile phone?
Yes, you may. You can easily check your pension status through your mobile phone via the UMANG app or SMS services.
What should I do if my pension status is not updated?
In case your pension is not updated, consider contacting the pension office. You may also raise a query on the official NSAP grievance portal.
Is my old age pension amount taxable?
Yes, it is. However, a pension under NPS is eligible for tax benefits. For instance, tax benefits of up to 10% of salary can be availed under section 80CCD(1), not exceeding the limit of ₹1.5 lakhs under 80 CCE on self-contribution.
