VARISHTHA
PENSION BIMA
YOJNA – T.NO.828
K.SANKAR,
SBA
VARISHTHA PENSION BIMA
YOJANA – T.NO.828
Revival of Varishtha Pension Bima
Yojana from 16th Aug 2014
 Salient Features:
 Pension 9%p.a.payable monthly (i.e.





equivalent to 9.38% p.a.)
No maximum age at entry
Min pension 500 to max 5000 pm
75% loan after 3 years
Surrender after 15 years or
critical/terminal illness
Std. and NSAP I, II, III accepted
Min Age: 60 years
L.B.D. ; No Max Age
Mode Of Pension:
Yearly or Half-yearly or
Quarterly or Monthly
Min Pension:
Rs.500 p.m.
Rs.1500 qly
Rs.3000 hly
Rs.6000 yly
Immaterial of Age:
Pension for Rs.1000 Purchase Price
Yearly : Rs.93.8069 p.a.
Half-yearly : Rs.91.7045 p.a.
Quarterly : Rs.90.6767 p.a.
Monthly : Rs.90.0000 p.a.
Excluding Service Tax
DEATH:
Return Of
Purchase Price
Max Pension:
Rs.5000 p.m.
Rs.15000 qly
Pensioner can
Rs.30000 hly
choose either Pension
Rs.60000 yly
Or Purchase Price
Pension
Mode
Min P.P.
Max P.P
Yearly
Rs.63,960
Rs.6,39,610
Half-yearly
Rs.65,430
Rs.6,54,275
Quarterly
Rs.66,170
Rs.6,61,690
Monthly
Rs.66,665
Rs.6,66,665
SURRENDER:
After 15 years or for
Critical or Terminal illness
of Self or Spouse
LOAN:
75% of P.P. after 3 yrs
Interest will be
recovered from pension
payable frequency
Commission to Agents: 0.1%
Dev. Officers Credit: 0.3%
(Both Net of Taxes)
It will be BUYERS market
Great opportunity to get entry
Age Proof: Std and NSAP I,II,III
No Stamp Declaration with
Notary is necessary for
Self Declaration
KYC / AML should be adhered
Income proof of
Bank Pass Book is a must
TARGET GROUP: Pensioners Forum
or Senior Citizens Forum
Proposal Form: 470 (Rev)
No Medical
Examination
is needed
Maximum is per FAMILY
Family: Self, Spouse &
Dependents
For all put together
Rs.5000/Mly ; Rs.15000/
Qly ; Rs.30000/Hly ;
Rs.60000/Yly