Last date of investment is 31 March
New Delhi: Modi government has launched ‘Pradhan Mantri Vaya Vandan Yojana (PMVVY)’ pension scheme for senior citizens. Under this scheme, 10 thousand rupees will be provided as pension to senior citizens every month.
If you fall in the category of senior citizen and you want to get Rs. 10,000 as pension every month, then invest in this scheme before March 31, because this scheme is going to be closed before March 31.
This was announced by the Modi government in the 2017–18 and 2018–19 general budgets. The scheme provides eight percent annual returns to senior citizens. Life Insurance Corporation of India operates the scheme.
The government has made Aadhaar mandatory for the subscribers of the senior citizens’ pension scheme ‘Pradhan Mantri Vaya Vandan Yojana (PMVVY)’. According to the Finance Ministry notification, “To avail benefits under this scheme, it will be necessary to inform the eligible person about the Aadhaar number or the process of Aadhaar verification.”
This notification has been issued on 23 December under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016. The notification states that if a person who wants to avail the benefit of the scheme but does not have an Aadhaar number or has not enrolled for Aadhaar, he must “enroll or register for Aadhaar before registering for the scheme Will happen. “
If Aadhaar is not verified due to bad biometrics, then in such cases the Financial Services Department will make provision to help get Aadhaar numbers for the beneficiaries through its implementing agency.
Apart from this, in cases where verification with biometric or Aadhaar OTP or time based OTP is not possible, benefits can be availed under the scheme by giving Aadhar card. This can be verified through QR code printed on Aadhaar.
Citizens can buy this investment both online and offline. For offline investment, you have to go to LIC office. For online you can invest by going to www.licindia.in.
