Minister of Youth Affairs and Sports Shri Anurag Thakur has informed that The Ministry of Youth Affairs & Sports is providing assistance for livelihood to sportspersons after their retirement in the form of monthly pension under the scheme of “Sports Fund for Pension to Meritorious Sportspersons”.
Under the scheme, sportspersons who are Indian citizens and have won medals in Olympic Games, Commonwealth Games, Asian Games and World Cup / World Championship (in Olympic and Asian Games disciplines) and Paralympic Games, are given lifelong monthly pension ranging from Rs.12,000/- to 20,000/-, after they attain the age of 30 years or retire from active sports, whichever is later. The pension payments are made through Life Insurance Corporation (LIC) of India, for which Ministry purchases annuities for individual pensioners by making onetime lump sum payment to LIC.
At present, 821 sportspersons are getting lifelong pension under the scheme.