Aadhaar made mandatory for subscribers of PMVVY pension scheme

The government has made Aadhaar mandatory for subscribers of the Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme for senior citizens.

The scheme, which envisages an assured rate of return of 8 per cent annually, is being implemented through Life Insurance Corporation of India (LIC). The scheme was announced in Union Budgets of 2017-18 and 2018-19.

“An individual eligible for receiving the benefit under the scheme shall hereby be required to furnish proof of possession of Aadhaar number (the unique 12-digit biometric identity number) or undergo Aadhaar authentication,” according to a finance ministry notification.