PMVY
Pradhan Mantri Vaya Vandana Yojana (PMVVY) > Implemented by Life Insurance Corporation > the scheme will earn an assured return of 7.4 per cent per annum which will be payable monthly for the entire duration of 10 years. > Cabinet approved its extension up to March 31, 2023. > Senior citizens (age 60 years and above) > PMVVY gives a guaranteed payout of pension at a specified rate for 10 years. It also offers a death benefit in the form of return of purchase price to the nominee. >The modes of pension payment are monthly, quarterly, half-yearly and yearly. > Investment in Lump Sum Form only. Minimum: 1.5 Lakh Max :15 lakhs