Aadhaar linking Varishtha Pension Bima Yojana before December 31

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Aadhaar linking Varishtha Pension Bima Yojana
Aadhaar linking must for Varishtha Pension Bima Yojana by December 31

Aadhaar linking Varishtha Pension Bima Yojana: Varishtha Pension Bima Yojana (VPBY) as a pension scheme for senior citizens. The Finance Ministry said, ‘Aadhaar is mandatory for subscribers registered under the Varishtha Pension Bima Yojana.’ Central Finance Ministry said, ‘Subscribers registered under the Varishtha Pension Bima Yojana must link their Aadhaar number compulsorily.’ To avail benefits under this scheme, beneficiaries have to link Aadhaar by December 31.

Aadhaar linking Varishtha Pension Bima Yojana:

The notification is active from 20th November in all states and Union territories, except Assam, Meghalaya and Jammu and Kashmir. A finance ministry notification said, subscribers, who do not have Aadhaar numbers, will have to get enrolled by 31 December.

Life Insurance Corporation of India (LIC) will implement Varishtha Pension Bima Yojana 2017 during the current financial year. LIC will provide a guaranteed return of 8 % for ten years. It aims at providing income security to elderly persons aged 60 years and above in case of fall in their interest income.

The scheme is open for one year from the date of launch. The subscribers have to opt for a pension on a monthly, quarterly, half-yearly and annual basis.

Aadhaar is mandatory to avail benefits of social security schemes like Atal Pension Yojana, Pradhan Mantri Matru Vandana Yojana, Pradhan Mantri Ujjwala Yojana. The deadline to furnish Aadhaar details for these is 31st December.

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