Govt to launch pension scheme for elderly with 8% fixed rate

Bhubaneswar/New Delhi: Finance Minister Arun Jaitley will today formally launch the Pradhan Mantri Vaya Vandana Yojana (PMVVY) or a pension scheme for elderly with 8 per cent fixed rate of interest on their savings on Friday. The scheme can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has […]

Bhubaneswar/New Delhi: Finance Minister Arun Jaitley will today formally launch the Pradhan Mantri Vaya Vandana Yojana (PMVVY) or a pension scheme for elderly with 8 per cent fixed rate of interest on their savings on Friday.

The scheme can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has been given the sole privilege to operate this scheme, the finance ministry said in a statement.