Varishtha Pension Bima Yojana
“Varishtha Pension Bima Yojana”
Re-Launched for the period 15th August to 14th August 2015
For the welfare of the senior citizens of our country, the Govt. of India announces a subsidised Pension Scheme, with LIC as the exclusive adminstrator.
- Eligibility : 60 years of age and above
- Single lumpsum premium : Minimum Rs.66,665/- Maximum Rs.6,66,665/-
- Minimum Pension : Rs.500/- per month, Maximum Pension : Rs.5000/- per month
- Assured return of 9% monthly (9.38% annually)
- Pension payment period : Monthly, Quarterly, Half Yearly, or Yearly
- On Demise of the pensioner, nominee receives the purchase price.