evidence: - PMVVY – Pradhan Mantri Vaya Vandana Yojana This government-backed pension scheme for senior citizens provides financial independence and social security to the individuals post-retirement by offers from returns on investment. The scheme is offered only by the largest insurance provider in India; the LIC (Life Insurance Corporation of India) and it provides assured returns for ten years. [...] The PMVVY scheme offers an assured rate of return on investments, ensuring social security as well as economic freedom after retirement. Only the Life Insurance Corporation of India offers this pension plan, which offers ten years of guaranteed returns. The government raised the highest purchase cost of Rs. 15 Lakhs in accordance with the 2018–19 Budget.d) Varishtha Pension Bima Yojana [...] Senior individuals who desire to increase their savings can benefit from this programme. The SCSS allows anyone over 60 to register an account with a minimum deposit of Rs. 1,000 as well as a maximum deposit of Rs. 15 Lakhs. Tax deductions of up to Rs. 1.5 Lakh are available under Section 80C for investments made in this scheme. It is worth remembering that the amount of the interest is taxed for this scheme.Pension Plans: