Government of India has announced the Pradhan Mantri Vaya Vandana Yojana [PMVVY] for citizens aged 60 years and above. This is a Government subsidized pension scheme which shall provide an assured return of 8% p.a. payable monthly [i.e. equivalent to 8.30% p.a.] on the pensioner surviving during the policy term of 10 years. This plan is available for marketing and sale only through LIC of India.
For further details of the scheme, please contact the nearest Branch.