Plan No. 828
- Re- launched for the period 15th August 2014 to 14th August 2015
- Available to citizens aged 60 years and above.
- Benefits :
- Pension Payable:
During the lifetime of the Pensioner, a pension in the form of immediate annuity as per the mode chosen by the Pensioner shall be payable. - Death Benefit :
On the death of pensioner, the purchase price shall be refunded to the nominee /legal heirs
- Pension Payable:
- Pension would be on immediate annuity basis in monthly, quarterly, half-yearly or annual mode, varying, respectively, between Rs. 500 to 5000 (monthly), Rs. 1500 to 15,000 (quarterly), Rs. 3000 to Rs. 30,000 (half-yearly) and from Rs. 6,000 to Rs. 60,000 (annually), depending on the amount subscribed and the option exercised.
- The payout implies an assured return of 9% on monthly payment basis, which amounts to an annualized return of 9.38%.
- Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.
- On death, the full purchase price will be refunded to nominee.
| Eligibility Criteria | ||
|---|---|---|
| Min | Max. | |
| Age | 60 | No Limit |
| Per Month (Pension) | 500 | 5000 |
| Per Quarter (Pension) | 1,500 | 15,000 |
| Per Half Year (Pension) | 3,000 | 30,000 |
| Per Year (Pension) | 6,000 | 60,000 |
