Pradhan Mantri Vaya Vandana Yojana (PMVVY) Limit increased to 15 Lakh

The maximum limit to invest in Government backed Pradhan Mantri Vaya Vandana Yojana (PMVVY) has been increased from 7,50,000 to 15,00,000. Now a senior citizen can avail maximum pension up to 10,000 per month which was earlier 5,000 per month. Apart from limit increment, the purchase window which was closing on 03-May-2018, has been extended to 31-March-2020.

This plan is central government's subsidized social scheme plan availed through Life Insurance Corporation (LIC) of India. It provides financial security to elderly above 60 years of age and guarantees pension at 8% interest rate for 10 years and the above deposited amount would be returned after 10 years. The pension amount can be availed monthly, quarterly, half yearly or yearly.

To know more about this plan with help of an example and calculate pension as per your amount, please Click Here

Comments & Reviews (2)

Wrote :

22-09-2018 05:01:31

Kindly compare between LIC policies of prime minister vayo vanjana and LIC jeevan santhi scheme for better study please.

Wrote :

23-09-2018 08:04:13

The benefit of PMVVYis completely different than Jeevan Shanti plan. PMVVY is only for senior citizens and maximum tenure of investment and receiving pension is 10 years. After 10 years purchase price is automatically refunded whereas there is no such option in jeevan shanti. The return of PMVVY is definitely high than that of Jeevan shanti.

Write CommentReply

Wrote :

11-05-2018 16:21:06

under PMVVY scheme, Please let me know whether any member of the family( Sister, brother etc) can be made as nominee

Wrote :

12-05-2018 13:00:51

Yes, nominee can be anybody.

Write CommentReply

Write Comment & Reviews

Advertisement

Advertisement