 bill no  82 of  2012 the old age pension bill, 2012 by shri basudeb acharia, mp a billto provide for payment of pension to old age citizensbe it enacted by parliament in the sixty-third year of the republic of india as follows:—1 (1) this act may be called the old age pension act, 2012(2) it extends to the whole  of indiashort title, extent and commencement5(3) it shall come into force on such date as the central  government may, by notificationin the official gazette, appointdefinitions2 in this act, unless the context otherwise requires,—(a) "appropriate government" means in the case of a  state, the state governmentand in all other cases, the central government; and(b) "old person" means any person who has attained the age of sixty yearspension to old age persons3 (1) every old person who is a citizen of india shall, on an application made in theprescribed form, be paid rupees two thousand per mensem as pension, by the appropriate government(2) the pension payable shall be subject to alteration on the basis of the prevailing cost of living index as may be determined from time to time by the central government5(3) the pension referred to in sub-section (1) shall be disbursed to old persons, by the appropriate government through government treasury or any branch of nationalized bank as may be prescribed by the central government:10provided that an old person who is receiving pension from the appropriate government or who has some source of income which is more than the amount given under this act shall not be eligible for pension under this act4  (1) the central government shall set up a fund to be known as the "old persons pension fund" to carry out the purposes of this actsetting up ofold persons pension fund15(2) the fund shall consist of the sums paid into it by the central government after due appropriation made by parliament by law in this behalf and all such moneys received by way of grants or donations from any individual, organisation or agency including international agencypower to make rules5 (1) the central government may, by notification in the official gazette, make rulesfor carrying out the purposes of this act2025(2) every rule made under this act shall be laid, as soon as may be after it is made, before each house of parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both houses agree in making any modification in the rule or both the houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule statement  of  objects  and  reasonsindia's social security system  is woefully inadequate in comparison even to third world economies some states in india have social  security schemes but the scale of benefits is modest the indira gandhi old age pension scheme of the central government covers only old age persons living below poverty line moreover, the pension amount is a meagre rs 200 per month today, we find that millions of senior citizens who do not  have sufficient means or any support system have to lead a life full of hardships these people, who are without any source of income, live in hunger and loneliness without anyone to take care of their needs thus, our country being a welfare state, it is the duty of the state to provide for a universal pension  scheme for old age personsthe bill seeks to achieve the above objectivenew delhi;basudeb  achariajuly 24, 2012 financial  memorandumclause 3 of the bill provides for the payment of pension at the rate of rupees two thousand per month to such old persons who have attained the age of sixty years or more clause 4 provides for the constitution of  old  persons pension fund by the central government the bill, therefore, if enacted, would involve expenditure from the consolidated fund of indiait cannot be estimated at this stage as to how many old persons will need assistance from the central government however, an annual recurring expenditure of about rupees two thousand crore  is likely to be involved from the consolidated fund of indiaa non-recurring expenditure of about rupees two hundred crore is also likely to be involved memorandum regarding delegated legislationclause 5 of the bill empowers the central government to make rules for carrying out the purposes of the bill since the rules will relate to matters of detail only, the delegation of legislative power is of a normal character lok  sabha———— a billto provide for payment of pension to old age citizens————(shri basudeb acharia, mp)mgipmrnd—2187ls(s3)—17082012