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Pradhan Mantri Vaya Vandana Yojana (PMVVY-2020) Pension Calculator

In Pradhan Mantri Vaya Vandana Yojana (PMVVY), a senior citizen (above 60 years) makes one time single investment and gets assured 7.4% monthly pension for 10 years and after 10 years policyholder gets back his/her deposited amount.

Know more about this plan: LIC PM Vaya Vandana Yojana Modified-2020 (856) complete details

[ 1000 to 9250 ]
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Comments & Reviews (15)

Wrote :

31-05-2022 07:03:57

In which months interest distributed for half yearly or yearly?

Wrote :

15-06-2022 16:13:20

It will be either monthly, quarterly, Half-yearly or yearly as per your opted option.

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Wrote :

12-05-2022 13:55:24

Would like to know when I can surrender the plan ? Any lock in to surrender? How much amount will be deducted? To surrender do we need to show proof the reason to surrender? Kindly let me know

Wrote :

13-05-2022 20:52:13

The policy can be surrendered in case of exceptional circumstances like treatment of any critical illness of the policyholder or spouse. Surrender value will be 98% of the purchase price.

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Wrote :

23-04-2022 13:41:54

Can I change my bank and account number for credit of pension amount after the policy is issued??

Wrote :

04-05-2022 09:49:29

Yes, it can be change or updated.

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Wrote :

10-04-2022 12:04:27

Hello Team LIC, we wish to purchase PMVVY JOINTLY with Mother and Son it is possible. Main applicant will be Mother ( SENIOR CITIZEN )and co applicant is Son (General Citizen ), Appreciate your Revert. Thank you.

Wrote :

15-04-2022 08:58:14

This scheme is not available for joint applicants. The other person can be nominee in the scheme.

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Wrote :

10-12-2021 00:33:27

what happens when nominee pass away earlier ? can we change the nominee? what happens when policy holder without any mentioned nominee?

Wrote :

17-12-2021 19:59:20

In case of death of the nominee, claim amount will available to legal heir of the policy holder. Nominee can be changed or added at anytime during the policy term.

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Wrote :

14-06-2021 16:45:19

WHETHER LIFE IS INSURED UNDER PMVVY? IN CASE OF DEMISE, WHETHER NOMINEE WILL RECEIVE PURCHASE AMOUNT IMMEDIATELY OR AFTER COMPLETION OF TERM IE 10 YEARS?IN CASE OF DEMISE, WHETHER NOMINEE CAN CONTINUE IF SO WISH TILL COMPLETION OF TERM?THANKS

Wrote :

14-06-2021 22:54:24

PMVVY does not provide any Life Insurance. In case of death of the policyholder, the purchase amount is returned to the nominee. The pension benefit is not passed on to nominee in case of demise of the policyholder.

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Wrote :

12-05-2021 18:02:21

Depending on the availability of funds, can I deposit Rs.6 snd 9 Lakh in two different periods/dates and balance amount separately to make up total Rs.15 Lakh. Will I get the benifit of paying 1489933 in case of quarterly pension. Please clarify. Thanks

Wrote :

19-05-2021 15:47:45

Separate purchases can be done provided that maximum pension amount is not reached.

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Wrote :

26-09-2020 11:13:57

what if the policy holder died before the 10yr period?

Wrote :

29-09-2020 13:38:48

The deposited amount will be returned to the nominee of the policyholder.

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Wrote :

15-09-2020 22:31:26

How much difference in pension amount if buy online and offline...suppose want to invest 5 lacs then what is two different illustration... ??

Wrote :

16-09-2020 19:41:54

There is no difference in pension amount whether purchased online or offline.

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Wrote :

13-09-2020 20:56:50

Whether at the time of purchase we have to pay GST additionally or not? Secondly whether the received pension is subject to income tax?

Wrote :

14-09-2020 11:10:25

PMVVY is exempted from GST and pension received will be taxable.

Wrote :

12-05-2022 13:51:04

On what pension amount how much tax will be deducted?

Wrote :

13-05-2022 20:49:59

It will be added to your income and tax will be according to tax rate of that financial year just like salaries individual. if your total comes within exempted limit, then no tax will be charged.

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Wrote :

07-09-2020 10:49:57

If I invest Rs.1488251, what will be my pension on yearly mode?

Wrote :

07-09-2020 20:00:44

For yearly pension mode, maximum investment amount is Rs.1449086 and for that amount yearly pension will be Rs. 1,11,000.

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Wrote :

13-08-2020 17:00:51

Please intimate the rate of other policies as compare to plan 856.

Wrote :

14-08-2020 17:03:12

PMVVY is a different kind of plan which is exclusively available for Senior citizens. There is no other plan compare except senior citizen Saving Scheme (SCSS) which provides same interest rate i.e. 7.4%.

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Wrote :

12-06-2020 11:08:15

I am not able to download the proposal form plan no. 856 for this scheme. How to download proposal form. I would like to know the website name from which I can download the proposal form. I tried LICindia.in but in this site, other forms are available not this one.

Wrote :

12-06-2020 17:21:19

Here is download link.
PMVVY -2020 Proposal Form Download

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Wrote :

04-06-2020 19:05:57

1) Is TDS applicable on the pension amount ?
2) Can we submit 15H Form for non-deduction of TDS ?
3) Is there separate specific form available for LIC ?
3)If so, from where can we obtain it ? and
4) When it has to be submitted ?

Wrote :

05-06-2020 20:52:39

Unofficially speaking, LIC doesn?t deduct TDS on pension amount of PMVVY. 15H can be submitted to avoid deduction of TDS. There is a specific for form for it, you can find link of the form above and download it. Sir please visit nearest LIC branch for submission of the proposal form. This plan is also available online for purchase.

Wrote :

05-06-2020 23:03:42

Thanks for your kind reply.

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Wrote :

04-06-2020 16:49:05

Depending on the availability of funds, can I deposit Rs.3 or 4 Lakh in three different periods/dates and balance amount separately to make up total Rs.15 Lakh. Please clarify. Thanks

Wrote :

04-06-2020 16:57:36

Yes, it possible.

Wrote :

04-06-2020 19:07:02

Thanks for the prompt reply !

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