On May 9th, three major social security schemes launched by the Government of India have completed 11 years of providing insurance and pension coverage to citizens across the country. The Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Atal Pension Yojana (APY) were designed to provide affordable insurance and pension protection through low-premium social security initiatives. According to reports from ZeeBiz WebTeam, these schemes have successfully achieved their goal of extending financial security to people from all sections of society.
Under the PMJJBY scheme, total enrollments have exceeded 27.43 crore citizens, demonstrating the scheme's widespread adoption across the country. As reported by ZeeBiz WebTeam, claims under the scheme have been settled to a significant extent, with payouts amounting to ₹21,512.50 crore as of April 29, 2026. This substantial payout figure reflects the scheme's effectiveness in providing life insurance coverage to millions of beneficiaries.
The PMSBY scheme has registered over 58.09 crore enrollments/registrations since its launch in 2015, making it one of the most successful insurance schemes in India. According to reports from ZeeBiz WebTeam, under the accident insurance scheme, ₹3,667.52 crore has been paid out for 184,662 claims. The scheme provides low-cost accident insurance coverage of up to ₹2 lakh at a premium of just ₹20 per year, making it accessible to people between the ages of 18 and 70 years.
The Atal Pension Yojana has witnessed steady growth with more than 9.04 crore people enrolled as of April 30. As reported by ZeeBiz WebTeam, the scheme targets citizens aged between 18 and 40 years who do not pay income tax, offering them a systematic retirement plan. The scheme provides guaranteed pension ranging from ₹1,000 to ₹5,000 per month after attaining age 60, along with spouse and nominee benefits that ensure complete financial protection for families.
Bank of India has emerged as a key partner in delivering these social security schemes, celebrating 120 years of service while achieving significant milestones under the Jan Suraksha mission. According to the bank's latest data, 44 lakh enrollments have been recorded in APY, providing guaranteed pension for dignified retirement. The bank has also protected 135 lakh families under PMJJBY, ensuring life cover when it matters most, and enrolled 308 lakh people in PMSBY, offering affordable accident cover for every Indian. Additionally, 12,446 PMSBY claims have been settled, demonstrating the bank's commitment to fulfilling promises and delivering financial security as a right rather than a privilege.
