Pension Calculator for LIC Pradhan Mantri Vaya Vandana Yojana (842)

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a Government of India Pension plan sold by LIC for Senior Citizens where Monthly 1000 to 5000 pension can be availed on deposit of single one time amount. One can easily calculate Yearly, Half Yearly, Quarterly and Monthly Pension by entering one time deposit amount.

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Wrote : 08-03-2018 11:33:59

can you explain the rate of interest of Pradhan Mantri Vaya Vandana Yojana? Can you confirm urgently.

Replied : 10-03-2018 12:21:45
It is 8% in monthly mode and 8.3% in yearly mode.

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Wrote : 01-02-2018 20:38:41

If I understand it correctly, this policy will give pension from the initially amount deposited and at the end of the term the initially amount deposited will be returned to the person or the nominee. Right ?

Replied : 02-02-2018 00:06:30
Yes, pension for 10 years and on completion of 10 years, purchase price is returned.

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Wrote : 06-01-2018 09:27:16

I wish to make an Pension policy for another senior person. If the person dies inbetween what happens. Will the pension stops or can be availed by living nominee. Or the pension stops and the lumpsum is returned back?

Replied : 06-01-2018 13:31:08
In case of death before 10 years, pension shall stop and deposited amoumt will be returned.

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Wrote : 12-12-2017 17:33:31

can i take 2 policies say one for 4 lakhs for yearly interests and 3.5 lakhs for half yearly interest? what will be total yearly interest? or in other words if i take a policy if 4 lakhs what will be another policy premium so that I will get max pension. thanks

Replied : 12-12-2017 18:08:43
You may take two polices provided total pension must not increase 60000 per year.

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Wrote : 22-09-2017 14:09:51

In my opinion the scheme is an half hearted scheme. For e.g if I keep the funds in cooperative bank ( interest @ 10 p, c. min ) or banks (int rates around 8 %) there is no age restriction for deposits you can get your full amt of money back either yourself or nominees before or at the end of the period you can submit 15 H for tds exemption in other words what advantage one gets if they invest in LIC scheme.
suggestion : . the interest or pension whatever u call should be fully exempted from payment of any taxes.The interest must be linked to the pension rate payable to the govt employees

Replied : 22-09-2017 20:36:56
But, at present, no bank is providing 8% or 10% interest.

Wrote : 26-12-2017 18:54:26

The bank rates are gradually falling and it may eventually hit 4-5%. And this could happen in another 5-8 years. so sealing the deal with 7% for lifetime is a wise decision

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Wrote : 25-07-2017 22:40:26


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Wrote : 10-07-2017 11:54:08

on the closure of account the purchase price will returned to NOMINEE account ?

Replied : 10-07-2017 12:03:52
Purchase price will be returned after completion of 10 years.

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Wrote : 01-07-2017 18:52:44

In the plan document, there is no mention of TDS. As suggested by some experts, submission of 15 H would be needed to avoid TDS. Why there is no clear cut mention in the plan for TDS. Is it not something the scheme formulator should have thought of before launching the plan???????????

Replied : 01-07-2017 19:10:23
Yes, there should have been such provision.

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Wrote : 21-06-2017 22:05:17

whether Tax is deductible at source and if yes submission of form 15H is needed to avoid TDS

Replied : 23-06-2017 11:49:00
Form 15H can be submitted to avoid TDS.

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Wrote : 19-06-2017 13:48:54

I have paid a sum of Rs.7,45342/- towards quarterly pension on 22.5.2017 for 10 yrs.under 842 plan of LIC. When I shall be getting my first quarterly pension?

Replied : 19-06-2017 14:07:00
Pension starts after completion of first selected duration, for example if monthly chosen, then pension will be credited on completion of 1 month from date of enrollment. In your case, pension will start from completion of a quarter (3 months) from date of purchase i.e. 22.08.2017.

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Wrote : 31-05-2017 13:05:51

whom to contact to invest in this plan ? pls give details.

Replied : 31-05-2017 15:03:48
Visit your nearest LIC branch.

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Wrote : 28-05-2017 14:08:24

supposed I pay Rs. 1,50,000/- say one time premium that is Rs.1,50,000/- on 26/05/2017 -(Policy Term 10 Year) so from which year I am getting Rs.1000/- pension. and how long I will get the pension. Then principal amount 150000 refund immediately.

Replied : 29-05-2017 16:47:21
It is already explain in below query.

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Wrote : 26-05-2017 16:40:19

supposed I pay Rs. 1,50,000/- say one time premium that is Rs.1,50,000/- on 26/05/2017 -(Policy Term 10 Year) so from which year I am getting Rs.1000/- pension. and how long I will get the pension.

Replied : 26-05-2017 17:58:12
You should get first monthly pension on 26-06-17 and 1000 per month up to 26-05-27 and 1,51,000(150000+1000) on 26-06-27.

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Wrote : 07-05-2017 21:48:37

May pl provide the pension amount on 750000

Replied : 07-05-2017 22:37:34
Monthly pension will be 5000 per month for 10 years.

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Wrote : 06-05-2017 14:37:19

Is this pension is taxable?

Replied : 06-05-2017 14:48:31
Yes, it will be taxable as it will be added to other income (if any) for tax assessment.

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Wrote : 05-05-2017 18:42:37

Nice and wonderful

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