https://www.taxtmi.com/news?id=22837 Extension of the Pradhan Mantri Vaya Vandana Yojana continues the annuity scheme with an initial assured rate of return set for the opening year and an annual reset tied to Senior Citizens Saving Scheme returns (subject to a ceiling and fresh appraisal on breach). The Finance Minister is delegated authority to approve the annual reset. Government financial liability is limited to the gap between LIC's market returns (net of expenses) and the guaranteed rate; management expenses are capped at specified percentages and minimum subscription levels for pension payouts are revised. en-us Wed, 20 May 2020 16:41:53 +0530 Wed, 20 May 2020 16:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22837 Extension of the Pradhan Mantri Vaya Vandana Yojana continues the annuity scheme with an initial assured rate of return set for the opening year and an annual reset tied to Senior Citizens Saving Scheme returns (subject to a ceiling and fresh appraisal on breach). The Finance Minister is delegated authority to approve the annual reset. Government financial liability is limited to the gap between LIC's market returns (net of expenses) and the guaranteed rate; management expenses are capped at specified percentages and minimum subscription levels for pension payouts are revised. News - Wed, 20 May 2020 16:41:53 +0530 https://www.taxtmi.com/news?id=22837