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PMVVY
May 24 , 2020
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- The Union Cabinet has given its approval to the Extension of Pradhan Mantri Vaya Vandana Yojana (PMVVY) up to 31st March, 2023.
- It is a Pension Scheme exclusively for the welfare of and to enable old age income security the senior citizens aged 60 years and above.
- One can invest a maximum amount of ₹15 lakh under Pradhan Mantri Vaya Vandana Yojana (PMVVY) scheme.
- The tenure of the policy is set at 10 years.
- The Life Insurance Corporation (LIC) of India has been given the sole privilege to operate this Scheme
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