 bill no 287 of  2016 the old age pension bill, 2016 by shri bhairon prasad mishra, mp a billto provide for payment of pension to old age citizensbe  it enacted by parliament in the sixty-seventh year of the republic of india as follows:—1 (1) this act may be called the old age pension act, 2016short title, extent and commencement(2) it extends to the whole of indiadefinitions2 in this act, unless the context otherwise requires,—(a) "appropriate government" means in the case of a state, the government of that state and in all other cases, the central government;(b) "old person" means any person who has attained the age of fifty-five years;and5(c) "prescribed" means prescribed by rules made under this actpension 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 five thousand per mensem as pension, by the appropriate government10(2) the pension payable shall be subject to such revision, on the basis of the prevailing cost of living index, as may be determined from time to time by the central government(3) the pension referred to in sub-section (1) shall be disbursed to old persons, by the appropriate government through government treasury or such nationalized bank, as may be prescribed by the central government:15provided 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 constitute a fund to be known as the old persons pension fund for carrying out the purposes of this actconstitution of old personspension fund20(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 rules255 (1) the central government may, by notification in the official gazette, make rulesfor carrying out the purposes of this act30(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 paid at the rate of rupees two hundred per month is a meagre amount to meet the bare need of food of pensioners 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 ours is a welfare state it is the foremost duty of the state to provide for a universal pension scheme for old age personsthe bill seeks to achieve the above objective hence this billnew delhi;bhairon prasad mishraoctober 28, 2016 financial  memorandumclause 3 of the bill provides for the payment of pension at the rate of rupees five thousand per month to such old persons who have attained the age of fifty-five 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 india at this stage it is not possible to estimate as to how many old persons will need assistance from the central government however, it is estimated that an annual recurring expenditure of about rupees five thousand crore is likely to be involved from the consolidated fund of indiano non-recurring expenditure is 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 as 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 bhairon prasad mishra, mp)gmgipmrnd—2954ls(s3)—21-11-2016