Govt guarantees 8.30% to seniors for 10 years

In combination with other assured return options as the maximum investment permitted is quite small

Priya Nair & Sanjay Kumar Singh 

The newly launched Pradhan Mantri Vaya Vandana Yojana (PMVVY) ticks many of the boxes that investors seek in a pension product. It offers a guaranteed return of 8 per cent monthly (effective rate of 8.30 per cent annually) for 10 years. But, the maximum investment limit of Rs 7.5 lakh will prove grossly inadequate for most middle-and upper-class senior citizens. Hence, financial planners suggest it should be used by them in combination with other income-yielding products.    The effective guaranteed return of 8.30 per cent for 10 years is the biggest advantage of the ...

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