The Union Cabinet has approved the implementation of the Swavalamban Scheme to cover workers in the unorganised sector and to provide old age security to all sections of society, particularly the vulnerable sections.The government will fund 1,000 crore rupees over a period of 4 years upto 2013-14 as co-contribution to subscribers of the New Pension System covered by the Swavalamban initiative. Under the Scheme, ten lakh subscribers each in the four years beginning 2010-11 will be covered bringing the total number of subscribers to 40 lakhs.The cabinet also approved to give support to the Pension Fund Regulatory and Development Authority (PFRDA) of about 100 crore rupees for the promotional and developmental activities for enrolment and contribution collection under the scheme.AIR correspondent reports the scheme will encourage people from the unorganized sector to voluntarily save for their old age. A majority of India's 30 crore informal sector workers are highly vulnerable to old age poverty because they have traditionally been excluded from formal pension provisions and are unable to access regulated retirement savings products at an affordable transaction cost.