Union Government launches Pradhan Mantri Vaya Vandana Yojana for senior citizens

Posted on:22 Jul 2017 10:19:23
Union Government launches Pradhan Mantri Vaya Vandana Yojana for senior citizens
22 July 2017 Current Affairs: The Union Finance Ministry launched Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme exclusively for senior citizens aged 60 years and above.

Under this scheme, senior citizens will get a guaranteed interest of 8% for 10 years depending upon the investment made by them.

Life Insurance Corporation of India (LIC) has been given the sole privilege to operate the scheme. It can be purchased offline as well as online through LIC.

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