Great news for senior citizens! Govt extends this social security scheme; know assured returns for FY21
In a major relief to the senior citizens, the government of India will initially offer an assured return of 7.40 per cent per annum for the year 2020-21 on its Pradhan Mantri Vaya VandanaYojana (PMVVY), according to a government release. The rates will be reset every year
PMVVY is a social security scheme for senior citizens offered by the Life Insurance Corporation of India (LIC). It is intended to give an assured minimum pension to for 10 yrs based on an assured return. Source: Reuters