Introduction
The Vrishtha Pension Bima Yojana is actually a pension scheme for the retired and senior citizens of the country of India. Vrishtha Pension Bima Yojana is a guaranteed pension scheme by the Government of India for people aging above sixty years (60 years).
The Government of India has subsidized the scheme of Vrishtha Pension Bima Yojana, by giving an assurance that the returns of the investment on the Vrishtha Pension Bima Yojana will be eight percent per annum (8% p.a). The scheme is known to have an effective yield for the monthly pension.
Details
The scheme of Vrishtha Pension Bima Yojana was first known to have announced in the year of 2003 by the BJP Government (NDA), for the people of more than the age of fifty-five years (55 years). The Varishtha Pension Bima Yojana was known to have offered the annual return of nine percent (9% p.a) on the monthly basis scheme.
In the years, 2004 the scheme was said to have withdrawn by the Government of India. In the year of 2014 – 2015 the budget was analyzed and Arjun Jaitley, re-announced the scheme of Vrishtha Pension Bima Yojana with the age limit getting increased to sixty years (60 years) and onwards. Finally, in the year of 2017, the scheme of Vrishtha Pension Bima Yojana was launched with the eight percent (8% p.a) interest rate.
Properties of the scheme
After the demonetization, the Prime Minister of Government of India, Narendra Modi, has said that it will be returned for the next ten years (10 years).
The scheme of Vrishtha Pension Bima Yojana was launched and implemented through the Life Insurance Corporation of India (LICI), during the financial year to provide the social, financial and emotional security to the person who is a retired being. This scheme of Vrishtha Pension Bima Yojana is promising the retired person of the age length of sixty years (60 years), to provide the rate of return even withstanding the faults and failures of the economic and market uncertainties.
Main Objectives:
- The objective of Vrishtha Pension Bima Yojana is to immediately provide the retired person a good life even after their retirement by securing a pension.
- This is a part of the Government’s commitment to the security of finance of the people of above the age of sixty years (60 years). This scheme of Vrishtha Pension Bima Yojana is promising the retired person of the age length of sixty years (60 years), to provide the rate of return even withstanding the faults and failures of the economic and market uncertainties.
- The scheme of Vrishtha Pension Bima Yojana is the initiative for the senior citizen’s wellbeing and welfare. In India, this for the citizen’s those got their longevity of life.
- The scheme of Vrishtha Pension Bima Yojana has the subscription of the scheme which would develop and create a huge corpus which is going to help India for the resource mobilization for the development of the country.
- This scheme is to provide the senior citizens of India a good social, mental and emotional life.
Benefits of the Scheme:
- The benefits of Vrishtha Pension Bima Yojana is that it immediately provides the retired person a good life even after their retirement by securing a pension.
- This is a part of the Government’s commitment to the security of finance of the people of above the age of sixty years (60 years). This scheme of Vrishtha Pension Bima Yojana is promising the retired person of the age length of sixty years (60 years), to provide the rate of return even withstanding the faults and failures of the economic and market uncertainties.
- The benefits of the scheme are that the user or the register of the scheme can enjoy the facilities given by the scheme and can easily get a monthly, quarterly, or annually return of the investment that the person has done.
- The benefit of the scheme is that they can get a return of eight percent (8% p.a).
- The scheme of Vrishtha Pension Bima Yojana is the initiative for the senior citizen’s wellbeing and welfare. In India, this for the citizen’s those got their longevity of life.
Eligibility criteria for the scheme:
The eligibility criteria for the Vrishtha Pension Bima Yojana has the age criteria of sixty years (60 years). The person must be a retired person in order to avail for this Vrishtha Pension Bima Yojana.
Required Documents:
The documents required for the Vrishtha Pension Bima Yojana are the AADHAAR CARD, Pan Card, Cancelled Cheques, Photograph.
How to apply:
The LICI agents can help the one to apply for the Vrishtha Pension Bima Yojana Scheme.
Contact Details:
The LICI agents can be contacted to get the Vrishtha Pension Bima Yojana availed. The Banks can help the retired person in this case.
Some important links:
Properties of the scheme
The eligibility criteria for the Vrishtha Pension Bima Yojana has the age criteria of sixty years (60 years). The person must be a retired person in order to avail for this Vrishtha Pension Bima Yojana.
The scheme of Vrishtha Pension Bima Yojana was first known to have announced in the year of 2003 by the BJP Government (NDA), for the people of more than the age of fifty-five years (55 years). The Vrishtha Pension Bima Yojana was known to have offered the annual return of nine percent (9% p.a) on the monthly basis scheme. In the years, 2004 the scheme was said to have withdrawn by the Government of India. In the year of 2014 – 2015 the budget was analyzed and Arjun Jaitley, re-announced the scheme of Vrishtha Pension Bima Yojana with the age limit getting increased to sixty years (60 years) and onwards. Finally, in the year of 2017, the scheme of Vrishtha Pension Bima Yojana was launched with the eight percent (8% p.a) interest rate.
Conclusion:
After the demonetization, the Prime Minister of Government of India, Narendra Modi, has said that it will be returned for the next ten years (10 years).
The scheme of Vrishtha Pension Bima Yojana was launched and implemented through the Life Insurance Corporation of India (LICI), during the financial year to provide the social, financial and emotional security to the person who is a retired being. This scheme of Vrishtha Pension Bima Yojana is promising the retired person of the age length of sixty years (60 years), to provide the rate of return even withstanding the faults and failures of the economic and market uncertainties. The scheme of Vrishtha Pension Bima Yojana is the initiative for the senior citizen’s wellbeing and welfare. In India, this for the citizen’s those got their longevity of life.
