A higher interest rate than other immediate annuity plans available in the market today is an attraction

To keep up the Prime Minister’s promise on new year’s eve to bring out a fixed interest product for senior citizens, the government’s pension plan for senior citizens is back in a new avatar — the Pradhan Mantri Vaya Vandana Yojana (PMVVY). The scheme’s features remain the same as it was in the earlier version (the Varishtha Bima Yojana which was open for one year from August 2014-August 2015). Th...