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Varishtha Pension Bima Yojna

 

Varishtha Pension Bima Yojana

Government of India in Budget 2014-2015 announced special plan for Senior Citizens called as Varishtha Pension Bima Yojana. This plan is a single Investment plan for monthly pension till life and return of money at the end.

Benefits under this plan :

  • Eligibility : 60 years and above
  • A single lumpsum premium : Rs. 66,665/- and maximum Rs. 6,66,665/-
  • Minimum pension : Rs. 500/- and maximum Rs. 5000/- per month
  • Assured return of 9% monthly ( 9.38 annually)
  • Pension payment period : Monthly, Quarterly, half yearly and yearly
  • on demise of the pensioner, nominee received the purchase price

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