53. Which of the following statement(s) about Pradhan Mantri Vaya Vandana Yojana is/are correct?
1. It is a pension scheme exclusively for senior citizens aged 60 years and above
2. It provides an assured return for 10 years.
3. It is exempted from goods and services (GST) tax
Correct answer code is:
53. Which of the following statement(s) about Pradhan Mantri Vaya Vandana Yojana is/are correct?
1. It is a pension scheme exclusively for senior citizens aged 60 years and above
2. It provides an assured return for 10 years.
3. It is exempted from goods and services (GST) tax
Correct answer code is:
The correct option is D All of the above
It is a pension scheme exclusively for senior citizens aged 60 years and above.
Scheme provides an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a. effective) for 10 years.
Pension (minimum: Rs.1000/ month; maximum: Rs.5000) will be 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. It is exempted from goods and services (GST) tax.
It will offer senior citizens more avenues to earn steady regular income at a time of falling interest rates.
On survival of the pensioner to the end of the policy term of 10 years, the purchase price of the scheme along with the final pension instalment will be payable. The scheme allows for premature exit for the treatment of any critical terminal illness of self or spouse. On such premature exit, 98% of the purchase price would be refunded. On death of the pensioner during the policy term of 10 years, the purchase price should be paid to the beneficiary.
It is a pension scheme exclusively for senior citizens aged 60 years and above.
Scheme provides an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a. effective) for 10 years.
Pension (minimum: Rs.1000/ month; maximum: Rs.5000) will be 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. It is exempted from goods and services (GST) tax.
It will offer senior citizens more avenues to earn steady regular income at a time of falling interest rates.
On survival of the pensioner to the end of the policy term of 10 years, the purchase price of the scheme along with the final pension instalment will be payable. The scheme allows for premature exit for the treatment of any critical terminal illness of self or spouse. On such premature exit, 98% of the purchase price would be refunded. On death of the pensioner during the policy term of 10 years, the purchase price should be paid to the beneficiary.
