POSTED BY September 2, 2014 9:17 am ONE COMMENTON
The government has recently revived the “VARISHTHA PENSION BIMA YOJANA” for senior citizens. Minimum and maximum payment is Rs. 66,665/- and 6,66,665/- respectively, which gives a pension of Rs. 500/month and Rs.5000/month respectively.
I need to know 2 things.
1. How do you rate this plan and please share its pros and cons.
2. Is the pension amount taxable?
Hoping for your valuable inputs.
Regards, Anurag Batra