PM Pension Yojana: Pradhan Mantri Vaya Vandana Yojana was started to make the elderly financially self-reliant at the crucial stage of their life. Know everything about this scheme.
PM Vaya Vandana Yojana: There is good news for senior citizens. Now the government has started ‘PM Vaya Vandana Yojana’ for people above 60 years of age. Under this, you can get a pension (Senior Citizens Savings Scheme) up to Rs 1,11,000 annually.
How long is the period
Pradhan Mantri Vaya Vandana Yojana has been started to make the elderly financially self-sufficient at the crucial stage of their life. Its duration was till March 31, 2020, but now it has been extended till March, 2023.
Who will benefit
The minimum working age to join this scheme is 60 years. That is, citizens of 60 years or more can invest in it. Under this there is no maximum age limit.
LIC has got the responsibility
A person can invest up to a maximum of Rs 15 lakh in this scheme. The responsibility of operating this scheme has been entrusted to Life Insurance Corporation (LIC). For pension in this scheme, you have to invest a lump sum amount. And then you can opt for monthly, quarterly, half yearly or yearly pension.
How much will be the annual pension
Under this scheme, you will have to invest Rs 1,62,162 for a pension of Rs 1000 per month. Under this scheme, the maximum monthly pension is Rs 9,250, quarterly Rs 27,750, half yearly pension of Rs 55,500 and annual pension of Rs 1,11,000.
How to invest
You can dial 022-67819281 or 022-67819290 for detailed information about the PMVVY scheme. Apart from this, you can also dial toll-free number – 1800-227-717.
