What are the features of Pradhan Mantri Vaya Vandana Yojana 1 Pension is payable at the end of each ...........

Finance (Phase -I & II) Financial Inclusion

What are the features of Pradhan Mantri Vaya Vandana Yojana?

1.Pension is payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen by the pensioner at the time of purchase.

2.The scheme is exempted from Service Tax/ GST.

3.The shortfall owing to the difference between the interest guaranteed and the actual interest earned and the expenses relating to administration shall be subsidised by the Government of India and reimbursed to the Corporation.

only 1 and 2

Only 2 and 3

Only 1 and 3

1, 2 and 3

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Explanation:

Objective & Key Features :-

PMVVY is a Pension Scheme exclusively for the senior citizens aged 60 years and above with following benefits:
Scheme provides an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a.effective) for 10 years.
Pension is payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen by the pensioner at the time of purchase.
The scheme is exempted from Service Tax/ GST.
The shortfall owing to the difference between the interest guaranteed and the actual interest earned and the expenses relating to administration shall be subsidised by the Government of India and reimbursed to the Corporation.