Varishtha Pension Bima Yojna (VPBY) – New plan relaunch for 1-year (15th August’14 to 14th August’15)
For the welfare of the senior citizens of our country, the Govt. of India announces a subsidised & attractive Pension Scheme, with LIC as the exclusive administrator.
Eligibility for Varishtha Pension Bima Yojna (Plan No 828):-
- Age-60 and above.
- Single lump sum premium
- Minimum Rs.66,665
- Maximum Rs 6,66,665
- Minimum pension Rs. 500 per month
- Maximum pension Rs. 5,000 per month
- Assumed return of of 9% monthly (9.38% Annually)
- Pension payment period : Monthly, Quarterly, Half yearly or Yearly.
- On demise of the pensioner, nominee will receive the purchase price.