<h1>Government Launches PMVVY for Seniors, Offering 8% Return and Flexible Pension Payments for 10 Years.</h1> The Pradhan Mantri Vaya Vandana Yojana (PMVVY) was launched to provide social security for individuals aged 60 and above, ensuring a stable income amidst uncertain market conditions. The scheme offers an assured 8% annual return for 10 years, with the government subsidizing the difference between LIC's generated return and the assured rate. Pension payments are flexible, with options for monthly to yearly payouts. The scheme requires a minimum investment of Rs. 1,50,000 for a Rs. 1,000 monthly pension, with a maximum investment of Rs. 7,50,000 for a Rs. 5,000 monthly pension. Available from May 2017 to May 2018, the government allocated Rs. 58.02 crores as a subsidy.