It is a pension scheme for elderly (aged above 60 years), which was launched in 2017 and is available till 31st March 2020.
Important Features
Under the scheme, an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a. effective) for 10 years is available.
The policy term is of 10 years and on survival, the pensioner is entitled for purchase price along with final pension installment. Whereas on death, the pensioner would be paid purchase price.
Investment limit is 15 lakh/ senior citizen.
Minimum Pension: Rs. 1,000/- per month, Rs. 3,000/- per quarter, Rs.6,000/- per half-year, and Rs.12,000/- per year
Maximum Pension: Rs. 10,000/- per month, Rs. 30,000/- per quarter, Rs. 60,000/- per half-year and Rs. 1,20,000/- per year
