Jan Suraksha Schemes Turn 11: PMSBY, PMJJBY and APY Explained
Why in the news
The three social-security schemes known together as the Jan Suraksha package marked 11 years on 9 May 2026. Launched in Kolkata by PM Narendra Modi in 2015, they offer accident insurance, life insurance and an old-age pension.
Key facts
- Figures reported (April 2026): PMJJBY 27.43 crore, PMSBY 58.09 crore, APY 9.04 crore.
- PMJJBY claims: ₹21,512.50 crore across 10,75,625 claims (as of 29 April 2026).
- PMSBY claims: ₹3,667.52 crore across 1,84,662 claims.
- Delivery channel: bank accounts opened under PMJDY (launched August 2014) enable auto-debit of premiums and direct claim transfers.
Scheme comparison
| Scheme | Purpose | Cover / benefit | Age | Cost | Run by |
|---|---|---|---|---|---|
| PMJJBY | Life insurance for death from any cause; one-year renewable | ₹2 lakh | 18-50 years | Under ₹2 a day (about ₹436 a year) | LIC, with banks and post offices tying up with life insurers |
| PMSBY | Accidental death and disability | Up to ₹2 lakh | 18-70 years | Under ₹2 a month (about ₹20 a year) | Ministry of Finance via public sector general insurers (PSGICs) and others |
| APY | Old-age pension for unorganised workers | ₹1,000-₹5,000 monthly after 60 | 18-40 years | Varies with entry age and pension chosen | PFRDA under NPS |
Background
- PMJDY gives a basic savings account, RuPay debit card, accident insurance and overdraft facility.
- The JAM trinity joins Jan Dhan accounts, Aadhaar and Mobile for direct benefit delivery.
- PFRDA is a statutory body set up under the PFRDA Act, 2013; NPS is a defined-contribution pension scheme and APY sits within it.
- PSGICs are New India Assurance, National Insurance, Oriental Insurance and United India Insurance.
Significance
- Made insurance and pension cover affordable for people at the bottom of the economic pyramid.
- Over 80% of the workforce is informal and lacks employer-based social security.
Exam angle
- Launch date and place: 9 May 2015, Kolkata.
- Regulator behind APY: PFRDA, not IRDAI.
- Premium contrast: PMJJBY per day, PMSBY per month.