{"id":7633,"date":"2017-01-30T08:29:07","date_gmt":"2017-01-30T02:59:07","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=7633"},"modified":"2017-05-06T13:23:58","modified_gmt":"2017-05-06T07:53:58","slug":"lic-varishtha-pension-bima-yojana-2017","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/lic-varishtha-pension-bima-yojana-2017\/","title":{"rendered":"LIC Varishtha Pension Bima Yojana 2017"},"content":{"rendered":"<figure id=\"attachment_7635\" aria-describedby=\"caption-attachment-7635\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-7635\" src=\"http:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017-300x175.png\" alt=\"LIC Varishtha Pension Bima Yojana 2017\" width=\"300\" height=\"175\" title=\"\" srcset=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017-300x175.png 300w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png 571w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-7635\" class=\"wp-caption-text\"><strong>LIC Varishtha Pension Bima Yojana 2017<\/strong><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">The Prime Minister in his address to nation had promised <strong>a pension product for senior citizens which would offer 8% fixed interest for 10 years.<\/strong> The plan has been approved by his cabinet and is called <span style=\"text-decoration: underline;\"><strong>Varishtha Pension Bima Yojana 2017<\/strong><\/span>. A similar Varishtha Pension Bima Yojana was launched earlier by LIC in 2014 &amp; 2003.<\/p>\n<p style=\"text-align: justify;\">The plan is yet to be launched and more details are awaited for the same. We share with you whatever details are out as of today.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.apnaplan.com\/pmvvy-pradhan-mantri-vaya-vandana-yojana-review\/\"><strong><span style=\"color: #ff0000;\">This pension plan has been launched with the name of\u00a0Pradhan Mantri Vaya Vandana Yojana &#8211; you can read the complete review byclicking here.\u00a0<\/span><\/strong><\/a><\/p>\n<h2 style=\"text-align: justify;\">Salient Features of Varishtha Pension Bima Yojana 2017:<\/h2>\n<ul>\n<li style=\"text-align: justify;\"><strong>Minimum age<\/strong> for investment is 60 years<\/li>\n<li style=\"text-align: justify;\">There is <strong>NO Maximum age<\/strong> for entry<\/li>\n<li style=\"text-align: justify;\"><strong>Maximum Investment:<\/strong> Rs 7,50,000<\/li>\n<li style=\"text-align: justify;\">It gives return of <strong>8% compounded monthly<\/strong>.<\/li>\n<li style=\"text-align: justify;\">You can choose to<strong> receive pension monthly, quarterly, half yearly or annually<\/strong><\/li>\n<li style=\"text-align: justify;\">On death of the policy holder, the premium is returned back to the nominee<\/li>\n<li style=\"text-align: justify;\">The <strong>plan is available for only 1 year from the date of launch<\/strong> (which is yet to be decided).<\/li>\n<li style=\"text-align: justify;\">The <strong>interest paid would be added to the income and taxed<\/strong> as per income tax slab.<\/li>\n<\/ul>\n<blockquote><p><strong>Also Read:<\/strong><a href=\"http:\/\/www.apnaplan.com\/regular-income-investment\/\">13 Investments to Generate Regular Income<\/a><\/p><\/blockquote>\n<h2 style=\"text-align: justify;\">Comparison with earlier Varishtha Pension Bima Yojana:<\/h2>\n<p style=\"text-align: justify;\">Here is a comparison shared by Nagpal Manoj on twitter:<\/p>\n<figure id=\"attachment_7634\" aria-describedby=\"caption-attachment-7634\" style=\"width: 757px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-7634\" src=\"http:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/Comparison-of-Varishtha-Pension-Bima-Yojana-with-earlier-launches-1024x693.png\" alt=\"Comparison of Varishtha Pension Bima Yojana with earlier launches\" width=\"757\" height=\"512\" title=\"\" srcset=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/Comparison-of-Varishtha-Pension-Bima-Yojana-with-earlier-launches-1024x693.png 1024w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/Comparison-of-Varishtha-Pension-Bima-Yojana-with-earlier-launches-300x203.png 300w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/Comparison-of-Varishtha-Pension-Bima-Yojana-with-earlier-launches-768x520.png 768w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/Comparison-of-Varishtha-Pension-Bima-Yojana-with-earlier-launches.png 1318w\" sizes=\"(max-width: 757px) 100vw, 757px\" \/><figcaption id=\"caption-attachment-7634\" class=\"wp-caption-text\"><strong>Comparison of Varishtha Pension Bima Yojana with earlier launches<\/strong><\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><strong>We would provide with more details as they are announced.<\/strong><\/p>\n<h2 style=\"text-align: justify;\">Investments offering more than 8% for Senior Citizens:<\/h2>\n<p style=\"text-align: justify;\">There are few investments which still offer more than 8% returns for senior citizens. You must look into the same before committing your funds to LIC VPBY.<\/p>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ccffff;\"><strong>1. Ratnakar Bank offers 8.2% for senior citizens for 20 years deposit.<\/strong><\/span><\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><strong>Also Read:<\/strong>\u00a0<a href=\"http:\/\/www.apnaplan.com\/best-interest-rate-on-senior-citizens-bank-fixed-deposits-fd\/\">Best Interest Rate on Senior Citizens Bank Fixed Deposits<\/a><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ccffff;\"><strong>2. NCDs\/Bonds listed on Stock exchange. <\/strong><\/span><strong>Some examples:<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>M&amp;M Financial Services (AAA rated) has yield of 8.52% and residual maturity of 9.37 years<\/li>\n<li>Edelweiss Housing Finance Ltd (AA+ rated) has yield of 9.71% and residual maturity of 9.49 years<\/li>\n<li>Reliance Home Finance Ltd (AA rated) has yield of 9.71% and residual maturity of 14.95 years<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The problem is the liquidity for these bonds are low and hence it\u2019s difficult to buy\/sell. However you can buy easily when they are issued.<\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><strong>Also Read:<\/strong> <a href=\"http:\/\/www.apnaplan.com\/category\/fixed-income\/bonds\/ncds\/\">Latest NCD open for subscription<\/a><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ccffff;\"><strong>3. Tax Free Bonds listed on Stock Exchanges<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">PFC, HUDCO, NABARD, IRFC etc had issued tax free bonds in the past and are available on exchanges with yields in the range of 6.25%. The bonds have residual maturity of 10 to 15 years. <strong>As the interest received is tax free, these turn out to be better investments for senior citizens in highest tax bracket.<\/strong> The interest payout is annual. Also all the companies are backed by Government of India and also AAA rated \u2013 hence safe for investment.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"background-color: #ccffff;\">4. Senior Citizens Saving Scheme<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Senior Citizens Saving Scheme offers 8.5% interest which is payable quarterly. This too is backed by Government of India and so is safe. The problem is you can lock-in your amount only for 5 years.<\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><strong>Also Read:\u00a0<\/strong><a href=\"http:\/\/www.apnaplan.com\/senior-citizens-savings-scheme\/\">All about Senior Citizens\u2019 Savings Scheme<\/a><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\"><strong><span style=\"background-color: #ccffff;\">5.\u00a0DHFL Aashray Deposit Plus<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">DHFL is housing finance company and is rated AAA. It <a href=\"http:\/\/www.apnaplan.com\/company-fixed-deposit\/\">offers 8.75% to senior citizens for fixed deposit<\/a> up to 10 years. You can choose to get interest monthly, quarterly, half-yearly or yearly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Prime Minister in his address to nation had promised a pension product for senior citizens which would offer 8% fixed interest for 10 years. The plan has been approved by his cabinet and is called Varishtha Pension Bima Yojana 2017. A similar Varishtha Pension Bima Yojana was launched earlier by LIC in 2014 &amp; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[30,393],"tags":[2613,3191],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",571,333,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017-300x175.png",300,175,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",571,333,false],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",571,333,false],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",571,333,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",571,333,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2017\/01\/LIC-Varishtha-Pension-Bima-Yojana-2017.png",120,70,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":1,"uagb_excerpt":"The Prime Minister in his address to nation had promised a pension product for senior citizens which would offer 8% fixed interest for 10 years. The plan has been approved by his cabinet and is called Varishtha Pension Bima Yojana 2017. A similar Varishtha Pension Bima Yojana was launched earlier by LIC in 2014 &amp;&hellip;","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/7633"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=7633"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/7633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/7635"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=7633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=7633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=7633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}