Pension scheme for Unorganised sector workers (SWAWLAMBAN) launched

• Subscribers would get Rs.1,000 from the government each year for a subscription amount of Rs.12,000 per year. The scheme will remain valid for this financial year and for the next three consecutive fiscals.
• Rs. 100 crore Allocated for the scheme in the budget for 2010-11. Will be managed by the Pension Fund Regulatory and Development Authority of India.
• A subscriber can enter the scheme at the age of 18 years and will be eligible for pension after turning 60.
• 87 per cent of the country's workforce would benefit from the 'Swavalamban' scheme.