Hurry! This LIC pension scheme that can provide...

Hurry! This LIC pension scheme that can provide Rs 10,000 a month will end March 31

77°
Missing
Deal Cadet
87
115
1
Hurry! This LIC pension scheme that can provide Rs 10,000 a month will end March 31

https://economictimes.indiatimes.com/wealth/inv...

Pradhan Mantri Vaya Vandana Yojana pension scheme, meant for senior citizens, is available only till March 31.

10 Comments  |  
6 Dimers
Missing
Deal Subedar
128
2630
45

I think the government will extend it.

There is SCSS which gives 8.6% return. This scheme gives 8%

Missing
Deal Cadet
160
843
11
micke wrote:

I think the government will extend it.

There is SCSS which gives 8.6% return. This scheme gives 8%

What is scss?

Missing
Deal Cadet
175
975
22
Expand
iamshashikant wrote:

What is scss?

Senior Citizen Savings Scheme

Missing
Deal Cadet
188
572
6

Nice game plan from ind gov, invested amount per humko byaaj milega, usko ye log pension bolte hai…nice modiji

Missing
Deal Cadet
160
843
11
Expand
lanny25 wrote:

Senior Citizen Savings Scheme

From post office?

Missing
Deal Cadet
175
975
22
flawlessking wrote:

Nice game plan from ind gov, invested amount per humko byaaj milega, usko ye log pension bolte hai…nice modiji

I guess that is how Pension schemes are actually supposed to work. Only difference is that in government sponsored pension schemes, you get a fixed guaranteed return, no matter how the market/economy performs. In a private pension fund, your returns are purely determined by how the fund and the underlying investments have performed and you might actually even lose all the money you have invested or make spectacular returns out of it. In India, people have had a notion of pension as free money given by government to all its employees after retirement (and correctly so because the government has actually been doing the same and has only just recently stopped) .

Missing
Deal Cadet
175
975
22

Yupp

Missing
Deal Cadet
51
322
5

Hurry!

Missing
Deal Subedar
128
2630
45
Expand
iamshashikant wrote:

From post office?

You can also open SCSS in banks as well …. SBI, Bank of Baroda etc.

I have opened my father’s account in SBI. Interest payment comes in bank account. And SCSS account is visible in YONO app.We have opened 3 accounts of 5 lakh each.

We can claim tax deduction under Section 80C (Upto 1.5 Lakh) for deposit or principal amount, But interest income is Taxable. We got interest income after deducting 10% TDS

Rebate under section 80C is not available for LIC PMVVY

Missing