Scheme Of Sports Fund For Pension To Meritorious Sportspersons in 2023 – Daily Knowlege

The Scheme will likely be applicable to sportspersons, who’re Indian residents and have received…in 2023 Scheme Of Sports Fund For Pension To Meritorious Sportspersons in 2023 – Daily Knowlege

What is the scheme for sportspersons in India ?

A pension scheme by the Ministry of Youth Affairs & Sports activities to supply further monetary safety to sportspersons post-retirement from lively sports activities profession within the type of a lifetime pension, payable on attaining the age of 30 years (or date of retirement from lively sports activities whichever is later).

The necessity for assured month-to-month earnings via annuity for excellent sportspersons has grow to be crucial attributable to the truth that sportspersons spend prime of their youth in pursuit of intensive coaching, sacrificing different helpful alternatives usually obtainable.

The assured month-to-month earnings will likely be a compensation for the alternatives spurned by them in pursuit of their excessive ambition and achievement in sports activities.

SCHEME OF SPORTS FUND FOR PENSION TO MERITORIOUS SPORTSPERSONS (Amended as on 07th June, 2018)

Preamble

This is a crucial scheme to supply further financial security to sportspersons
publish retirement from lively sports activities profession within the type of life-time pension. That is distinct
from the scheme of Nationwide Welfare Fund for Sportspersons below which help is
primarily rendered for sportspersons dwelling in indigent circumstances. It was nonetheless felt {that a}
clear minimize coverage to acknowledge particular excellent achievements within the Olympic,
Commonwealth Video games, Asian Video games and World Cup in Olympic / Asian Video games disciplines
of all sportspersons buying particular diploma of excellence would go a great distance in enabling
the sportspersons to commit themselves unstintingly to their chosen sports activities.
1.1 The necessity for assured month-to-month earnings via annuity for excellent sportspersons
has grow to be crucial attributable to the truth that sportspersons spend prime of their youth in pursuit
of intensive coaching, sacrificing different helpful alternatives usually obtainable. The
assured month-to-month earnings will likely be a compensation for the alternatives spurned by them in
pursuit of their excessive ambition and achievement in sports activities.
1.2 These sportspersons who’re eligible below the scheme, particulars of that are
enumerated under, are invited to use to the Division of Sports activities, Ministry of Youth
Affairs & Sports activities for pensionery profit below the Scheme.

Identify

The Scheme shall be known as “Sports activities Fund for Pension to Meritorious Sportspersons”.

Vision

The imaginative and prescient of the scheme is to draw and retain the very best sporting expertise within the nation
to realize excellence in sports activities.

Mission

To supply monetary safety to meritorious sportspersons publish retirement.

Goals and Targets

To establish worldwide competitions for this prupose i.e., Olympic Video games,
Commonwealth Video games and Asian Video games and World Cups in Olympics and Asian Video games
disciplines and Para-Olympic Video games; and supply this with further monetary safety publish
retirement is initially defeted.

Extent of Application

The Scheme will likely be relevant to sportspersons, who’re Indian residents and have
gained Gold, Silver or Bronze medals in Olympic Video games, World Cup in Olympics and Asian
Video games disciplines, Asian Video games, Commonwealth Video games and Para-Olympic Video games.

Advantages of Scheme Of Sports Fund For Pension To Meritorious Sportspersons

Rate of Pension – (Rs./per thirty days) –

1. Medallists on the Olympic Video games / Paralympic Video games: 20,000
2. Gold medallists on the World Cup/World Championship* in Olympic and Asian Video games disciplines: 16,000
3. Silver and Bronze medallists on the World Cup in Olympic and Asian Video games disciplines: 14,000
4. Gold medallists of the Asian/Commonwealth Video games/Para Asian Video games: 14,000
5. Silver and Bronze medallists of the Asian/Commonwealth Video games/ Para Asian Video games: 12,000

Eligibility of Scheme Of Sports Fund For Pension To Meritorious Sportspersons

1. The applicant should be a sportsperson.

2. The applicant should have gained a Gold, Silver, or Bronze medal in a global competitors, i.e. Olympic Video games, World Cup / World Championships in Olympics and Asian Video games disciplines, Asian Video games, Commonwealth Video games and Paralympic Video games.

Do you qualify as one of many following?*

• Medallists on the Olympic Video games / Paralympic Video games
• Gold medallists on the World Cup/World Championship (held as soon as in 4 years) in Olympic and Asian Video games disciplines
• Silver and Bronze medallists on the World Cup in Olympic and Asian Video games disciplines
• Gold medallists of the Asian/Commonwealth Video games/Para Asian Video games
• Silver and Bronze medallists of the Asian/Commonwealth Video games/ Para Asian Video games

Application Process of Scheme Of Sports Fund For Pension To Meritorious Sportspersons

Offline

Step 1: Take print of the prescribed proforma of the applying kind and the Mandate Kind given in Annexure-I and Annexure-II of the scheme pointers obtainable at:

Step 2: The duly crammed software together with the required paperwork are to be despatched to the tackle of the involved Nationwide Sports activities Federation for advice.

The Listing of Recognised Nationwide Sports activities Federations for the 12 months 2020-2021 is offered within the hyperlink under –

Documents Required for Scheme Of Sports Fund For Pension To Meritorious Sportspersons

1. Proof of Age / DOB
2. Aadhaar
3. Financial institution Particulars
4. Paperwork which can be a proof of profitable Gold, Silver or Bronze medal(s) in worldwide competitors.

Be aware: I
All funds shall begin from the date the Scheme coming into drive and no arrears
shall be payable for the interval previous to that date.
Be aware: II
The meritorious sportspersons will likely be eligible for just one pension below the scheme
equivalent to the best sports activities achievement and topic to different phrases and circumstances of
the scheme.

Be aware: III
The pension shall be payable to a sportsperson on his or her attaining the age of 30
years(or date of retirement from lively sports activities whichever is later) and can proceed throughout
his/her life time offered that the sportsperson on the time of making use of such pension
would have retired from an lively sports activities profession. An endeavor to this impact must
be given by the sportsperson within the software kind itself. The beneficiaries lined below
the scheme must furnish their life certificates as and when demanded by the involved
company/LIC.

Sources of the Fund of Scheme Of Sports Fund For Pension To Meritorious Sportspersons

i) Government Grant
ii) By contribution to the Fund from Nationwide Welfare Fund for Sportspersons
iii) By contribution and donations obtained from Personal and Public Company
Corporations/Establishments.

9. To get the pensionary advantages, eligible sportspersons have to use in prescribed
   proforma (as per enclosed Annexure I) duly really useful by the involved Nationwide Sports activities
   Federation and to submit checking account particulars as per Annexure II

Frequently Asked Questions of Scheme Of Sports Fund For Pension To Meritorious Sportspersons