The “Senior Pension Insurance Scheme” is included in the count of Central Government Special Schemes, which is operated by the government through LIC. Any Indian citizen of 60 years or above can take advantage of the scheme.
Pension Plan: With increasing age, the body becomes weak. Tiredness starts from small work. In such a situation, it becomes difficult to get a job, due to which one has to face financial crisis. People start planning well in advance to avoid these problems after retirement. Apart from this, the government also runs many schemes to make the life of senior citizens comfortable. So that after the age of 60 they can get financial stability. We are going to tell you about one such plan. Through which senior citizens can avail pension of Rs 5 thousand every month.
About the plan
“Senior Pension Insurance Scheme” is included in the count of central government special schemes, which is operated by the government through LIC. Any Indian citizen of the age of 60 years or above can avail the benefits of the scheme. The amount of monthly pension under the scheme depends on the investment. Policyholders can choose to receive pension monthly, quarterly, half-monthly and annually. The scheme is getting a minimum interest of 9% per annum. It matures after 15 years of purchasing the policy, only then the principal amount is provided to the investors. After the death of the policyholder, the nominee is entitled to the principal amount. Apart from this, investors can take a loan of 90 days to buy the plan.
This is the calculation
You get pension every month by making a lump sum investment. If a person invests Rs 74,627 then he gets the benefit of pension of Rs 500 every month. On the other hand, if a person invests Rs 7,46, 269, then he gets a pension of Rs 5000.
