For creating a Universal Social Security system, especially for poor and under privileged the following schemes are available: 1. Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY):- PMJJBY is life insurance scheme for persons on the age group of 18 to 50 years having a saving bank account. This scheme offers a renewable insurance coverage of Rs. 2 Lakh at a premium of Rs. 330 per annum. ; 2. Pradhan Mantri Suraksha Bima Yojana(PMSBY):- PMSBY is accident insurance scheme for persons in the age group of 18 to 70 years having a saving bank account. The risk coverage under the scheme is Rs. 2 Lakh for accidental death and full disability and Rs. 1 Lakh for partial disability at a premium of Rs. 12 per annum. ; 3. Atal Pension Yojana(APY):- APY is pension scheme for all persons in the age of 18 to 40 years having saving bank account in bank/post offices. Subscribers will receive guaranteed monthly pension at the age of 60 years, based on defined contribution. The scheme is administered by the Pension Fund Regulatory and Development Authority(PFRDA) under the overall administrative and institutional architecture of the National Pension System[NPS]