Finance LIC launches modified PMVVY pension scheme. Check interest rates, other details here Updated : May 27, 2020 05:10 PM IST The scheme is a non-linked, non-participating, pension scheme subsidized by the centre. This plan will be available till March 2023, LIC said in a statement, adding that the scheme can be purchased offline as well as online from LIC website. The scheme can be purchased by a lump sum purchase price and the pensioner has the option to choose either the amount of pension or the purchase price. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.