PMVVY launch: Should you invest Rs 1.5 lakh to get Rs 1000 per month?
PMVVY launch: Should you invest Rs 1.5 lakh to get Rs 1000 per month?
Finance Minister Arun Jaitley will be officially launching Pradhan Mantri Vaya Vandana Yojana (PMVVY) today.
The scheme was available from 4th May, 2017 and it can be availed till May 3, 2018. The government had announced the pension scheme exclusively for the senior citizens aged 60 years and above.
As per the Ministry, the Scheme will provide an assured return of 8% per annum payable monthly (equivalent to 8.30% p.a. effective) for 10 years. The pension will be payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen by the pensioner at the time of purchase.
Govt to launch pension scheme 'PMVVY' for senior citizens; Here are the details
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