the list of financial products that require aadhaar just got longer aadhaar has been made mandatory for getting benefits under the varishtha pension bima yojana vpby pension scheme according to a notification by the finance ministry on november 20 according to the notification an individual eligible for receiving the benefit under the scheme is hereby required to furnish proof of possession of aadhaar number or undergo aadhaar authentication the vyby pension scheme is meant for senior citizens which is implemented through life insurance corp of india lic the vpby scheme was announced in two versions in union budgets 200304 and 201415 and earlier this year the cabinet okayed vpby 2017 which provides guaranteed return of 8 percent for 10 years subscribers who do not have aadhaar numbers will have to submit an application to get enrolled by 31 december said the notification the notification effective from november 20 and will be applicable to all states and union territories except the states of assam meghalaya and jammu and kashmir