Govt extends 'Pradhan Mantri Vaya Vandana Yojana' by 3 years till March 2023

The Union Cabinet on Wednesday extended the Pradhan Mantri Vaya Vandana Yojana (PMVVY), a social security scheme for senior citizens, for three years till March, 2023. PMVVY scheme, implemented through the Life Insurance Corporation (LIC), is intended to give an assured minimum pension to senior citizens (60 years and above) based on an assured return on the purchase price/subscription amount.