PMVVY: Due to Corona crisis, interest rates of all types of fixed deposits to pension schemes have been reduced in banks and post offices.
In fact, for senior citizens, their pension is the source of regular income, in such a situation, the Vayya Vandana scheme run by the government for them seems an attractive option. Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2020 online application form / registration and eligibility
Prime Minister Vay Vandana Yojana is getting better interest than all fixed deposits and pension schemes. Although the interest rates of this scheme have been reduced due to the Corona crisis, the interest rate has come down from eight percent interest to 7.4 percent now. However, if you opt for the annual pension, you will get 7.66 percent annual return. PMVVY: Invest only 15 lakhs and get 10 thousand rupees every month for 10 years
The elderly will have to make a lump sum investment in Vyayan Vandan Yojana for pension. Every year on 1 April, the government reviews and alters the returns of this scheme. Pension can be taken on monthly, quarterly, half yearly or yearly basis. Pradhan Mantri Vaya Vandana Yojana (PMVVY) – Good Pension Plan for Senior Citizens
After the new amendments, the customer will have to invest a minimum of Rs 1.62 lakh for a monthly pension of Rs 1000. 1.61 lakh for quarterly pension, 1.59 lakh for half year and minimum 1.56 lakh for annual pension.
The maximum monthly pension will be Rs 9250 under the Vyandana scheme. When there is a provision for getting quarterly pension of Rs 27,750, half yearly pension of Rs 55,500 and maximum annual pension of Rs 1,11,000. Under this scheme, any investor can invest up to a maximum of Rs 15 lakh.
If you invest 15 lakh rupees on 2021, by the year 2031, you will get a fixed return of 7.4 percent annually. If the investor survives even after the policy term of 10 years, then he will get back the amount invested with the last installment of pension. On the other hand, if an investor dies during the policy period, his nominee will get the entire investment amount. LIC PMVVY Scheme: From assured return to Rs 15 lakh payout, check top features of PM Vaya Vandana Yojana
What is the plan for?
Under the Prime Minister Vay Vandana Yojana (PMVVY), pension is arranged for the elderly. This scheme has been kept under LIC. Due to being a pension scheme, only after 60 years of age, it can get benefits. Now the deadline to join this scheme is till March 2023.
This pension scheme has many benefits. For example, if the investor dies in the middle, the purchase price is returned to the nominee. The amount deposited by the investor at the time of purchasing the policy is returned after completion of the 10-year period. Loan facility is also available after 3 years of investment. With this, pre-mature withdrawal is allowed in certain circumstances. The important thing is that there is no need for medical examination in this pension scheme.
What is the helpline number? For
more information about Pradhan Mantri Vaya Vandana Yojana, you can call 022-67819281 or 022-67819290. Apart from this, the benefits of the scheme can also be understood through toll free number – 1800-227-717 and email id-onlinedmc@licindia.com. Apart from this, you can understand about the scheme in detail by visiting the link https://eterm.licindia.in/onlinePlansIndex/pmvvymain.do.
