For the welfare of senior citizens of our country, the Govt. of India announces a subsidised and attractive Pension Scheme, with LIC as the exclusive administrator.
Eligibility : 60 years of age and above
Single lumpsum premium :
Minimum - 1,50,000/- (for monthly pension),
Maximum - 7,50,000/-
Minimum pension : 1,000/- per month,
Maximum pension : 25,000/- per month
Mode of pension payment :
- Monthly, Quarterly, Half-yearly or Yearly
- On death of the Pensioner during the policy term of 10 years, beneficiary receives the Purchase price
- On survival of the Pensioner at the end of 10 years, Purchase price along with final pension installment will be paid