Varishtha Pension Bima Yojana - 2017

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..... Varishtha Pension Bima Yojana - 2017
News and Press Release
Dated:- 24-1-2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its post-facto approval for lau .....

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..... nching of Varishtha Pension Bima Yojana 2017 (VPBY 2017). It is a part of Government's commitment for financial inclusion and social security. The scheme will be implemented through Life Insurance Co .....

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..... rporation of India (LIC) during the current financial year to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income .....

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..... due to uncertain market conditions. The scheme will provide an assured pension based on a guaranteed rate of return of 8% per annum for ten years, with an option to opt for pension on a monthly / quar .....

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..... terly / halfyearly and annual basis. The differential return, i.e., the difference between the return generated by LIC and the assured return of 8% per annum would be borne by Government of India as s .....

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..... ubsidy on an annual basis. VPBY-2017 is proposed to be open for subscription for a period of one year from the date of launch.
News - Press release - PIB .....

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