Pradhan Mantri Vaya Vandana Yojana (842) Pension Calculator


This plan has been closed on 31-03-2020 and new modified plan is available. Go to New Plan: PMVVY Modified-2020 Plan (856)

Terms of Service

Comments & Reviews (41)

Wrote :

30-11-2022 12:33:06

I am Prakashan K, completed 60 years in April 2022, retired on 21July 22. Is any life covered under this policy?
Status of policy, if untoward demise during policy period.
If policy holder alive on maturity, any other sum will be paid over and above deposited sum.

Wrote :

30-11-2022 15:31:56

Sir, In this policy, there is no life cover. In this policy, a policy holder deposits a single amount and takes interest amount (pension) for ten years and after 10 years deposited amount is returned back to the policyholder. In case of death during this 10 years, deposited amount is returned back to the nominee along with due interest amount.

Write CommentReply

Wrote :

12-07-2022 15:18:27

I am retired on 31/7/2022 i am 58 year old, I can purchase plan?

Wrote :

17-07-2022 18:01:01

Plan is for person who has completed 60 years of age.

Write CommentReply

Wrote :

23-09-2020 18:01:45

Pension comes under the definition of word salary as defined under section 192 of income tax act 1961 as such it will always be subjected to TDS ,if applicable. From 15H is not applicable since payer LIC is not your employer.

Wrote :

23-09-2020 22:02:43

Thanks for your information. It will surely help lot of people.

Write CommentReply

Wrote :

25-08-2020 14:18:25

As per the New Rules if we invest 1449086 . at the Maturity that is After 10 Years what will be the maturity Amount that will get Deposited in the bank will be 1449086 Or 1500000?

Wrote :

30-08-2020 19:49:42

Maturity amount means deposited amount + interest for last applicable period. The deposited amount will be 1449086 in your case.

Write CommentReply

Wrote :

25-05-2020 00:19:50

If I invest now I will get 7.4% and in next year if they change ROI to say 7.1%. for the amount I invested already @7.4% which ROI is applicable for me in next year is it 7.4 or 7.1 %

Wrote :

25-05-2020 19:21:53

The rate which is applicable at the time of purchase shall be applicable for entire 10 years term. So it will 7.4% in your case.

Write CommentReply

Wrote :

24-05-2020 22:54:26

Sir if I purchase pmvvy for 5 lakhs in the same name in 3 different dates and opt yearly mode..Will I get 38300x3 =114900 ?...Please clarify

Wrote :

25-05-2020 00:36:17

Total yearly pension should not exceed 111000.

Write CommentReply

Wrote :

23-05-2020 20:53:33

Is the interest rate floating or will remain same throughout the tenure of policy.

Wrote :

28-05-2020 22:17:03

It will remain same for 10 year period.

Write CommentReply

Wrote :

23-05-2020 11:47:34

Can I purchase PMVYY in June 20 for 400000 Rs. & another 400000 Rs. in Sept 20 & 400000 Rs. in January 21.

Wrote :

24-05-2020 00:09:53

Yes, it is very much possible.

Write CommentReply

Wrote :

21-05-2020 08:17:15

How much purchase price will be returned to naminee after completion of 10 years suppose if I invested 150000

Wrote :

21-05-2020 08:28:55

It will be complete purchase price, it is150000 in your case.

Write CommentReply

Wrote :

20-05-2020 23:47:28

Please help me understand, If i pay one time 15,00,000 Rs. & get 10000/pm pension for 10 years. Total in 10 years will be 12,00,000 Rs. without any interest. where did my principle of 3,00,000 goes. I am technically loosing money.

Wrote :

21-05-2020 01:02:16

It is not like that, you will get back your 15,00,000 after 10 years. Please note, rate has been revised, please read above.

Write CommentReply

Wrote :

21-04-2020 14:37:16

Whether the date of deposit which was 31st March,2020 is further extended for those Sr. Citizens, who want to avail the benefit as new enterents.

Wrote :

22-04-2020 11:06:37

Sir, We don?t have update about extension.

Write CommentReply

Wrote :

16-04-2019 14:51:45

The person of age 64 years invest rs 15 lac then he get Rs 10000/- per month But the 8.3% of 15 Lac is 10375/-

Wrote :

16-04-2019 15:01:14

15 Lakh is for monthly option and it is 14,45,784 for yearly option. 8.3% is for yearly mode.

Write CommentReply

Wrote :

14-12-2018 03:47:59

My wife has deposited 15 lacs in pmvvy.Can I also deposit 15 lacs. Ceiling of interest will increase. It will shoot up to 240000 including mine and that my spouse's. We are both well 60 plus

Wrote :

14-12-2018 20:52:34

Yes, wife and husband each can deposit 15Lakh separately.

Wrote :

23-12-2018 19:02:45

I don't think so because it says that there can only be 10000 RS /month pension for the whole family .

Wrote :

28-12-2018 00:37:34

15Lakh limit is for an individual senior citizen, no family limit.

Write CommentReply

Wrote :

21-11-2018 15:56:41

Sir, I am going to complete 51 year in this December, want to invest in pension plan monthly basis, and get the returns at the age of 60 years on monthly basis. can you suggest good plan for me

Wrote :

23-11-2018 15:44:45

This plan is a single premium plan, monthly premium payment is not available. You may deposit in some other schemes like Bank RD or SIP and maturity of this investment can be used for purchasing a pension plan at that time.

Wrote :

10-03-2019 12:01:31

You can invest in LIC JEEVAN SHANTI.

Write CommentReply

Wrote :

11-10-2018 16:19:54

Hello Sir what about after 10 years? because if it is a pension plan than it should be till the death.

Wrote :

12-10-2018 00:15:02

It is not a life time pension plan. It only for 10 years.

Write CommentReply

Wrote :

23-08-2018 10:10:21

My father is 66 years and has only agricultural income. He recently inherited some amount from my grandfather's pension account as nominee. Now he wants to invest ₹ 800000 in pmvvy. Does he need to pay tax or could he attract income tax notice.

Wrote :

28-08-2018 22:58:51

Source of income needs to be declared, so it can be disclosed a agricultural income.

Write CommentReply

Wrote :

22-08-2018 20:26:32

My father is a non taxer payer, he wishes to buy pmvvy, investing 800000. Could he attract income tax notice.

Wrote :

23-08-2018 08:57:30

If he his income exceeds exempted income limit (presently 3Lakh for senior citizens) from all sources, then only he requires to pay income tax.

Write CommentReply

Wrote :

16-08-2018 17:35:55

I HAVE ALREADY INVESTED Rs.7.5 LAKHS IN PMVVS IN ANNUAL PENSION MODE DURING 10 SEPT 2017 CAN I ADD(TOP UP) ANOTHER Rs.7.5 LAKHS IN THE SAME POLICY TO MAKE IT Rs.15 LAKH OR I HAVE TO TAKE ANOTHER NEW POLICY ? CAN FORM 15H BE FILLED ONLINE WITH LIC ? CAN IT BE FILLED NOW;IF IT WAS NOT FILLED DURING THE INITIAL POLICY PURCHASE ?WHEN FORM 15H IS A MUST ?

Wrote :

17-08-2018 18:35:28

Yes, the new limit is 15 lakh. You have to take a new policy.

Write CommentReply

Wrote :

12-08-2018 02:49:23

I cannot understand, supposed i pay 150,000 for getting 1000/ month up to 10 years. 1000×12=12000 this is anually income. 12000×10= 120,000 this is we get in 10 years. We are really lost 30000 if we received 1000/month up to 10 years.

Wrote :

12-08-2018 11:19:43

No, your deposited amount 150,000 will be returned after 10 years.

Write CommentReply

Wrote :

24-07-2018 10:30:31

whether wife and husband above 60 can invest rs 15lakhs separately.

Wrote :

24-07-2018 14:23:07

Yes, both can have it separately.

Write CommentReply

Wrote :

11-07-2018 14:01:00

My date of birth is 24/01/1959 Can I invest in PMVVY

Wrote :

17-07-2018 14:09:08

Sir, you have not attained age of 60, so you are not eligible.

Write CommentReply

Wrote :

17-06-2018 16:32:21

I want to invest Rs.9,50,000.00/- in PMVVY Scheme Table 842 to avail yearly pension. How much amount of pension I will get in yearly mode. Please inform me.

Wrote :

17-06-2018 20:28:42

Yearly pension amount will be Rs 78850.

Write CommentReply

Wrote :

06-05-2018 13:18:16

In this scheme if you deposit 15,00,000 you get pension after one year. That is with 8.3% annual interest this amount becomes 16,24,500. Now @8% monthly interest is 10830/- whereas LIC is paying only 10000/-. I don’t understand in what way this scheme is attractive?

Wrote :

06-05-2018 23:18:07

Please calculate as per following formula.
1500000x8x1/(100*12), it will come out to 10,000.
For yearly pension, the maximum amount that can be invested is 14,45,784 and yearly pension at 8.3% would come out equal to 10,000.

Write CommentReply

Wrote :

03-05-2018 08:20:50

My date of birth is 01.09.1859, Can I eligible for this scheme?. It is a news today that max 15 laks can be put in this scheme. Suppose today I put 2 lacs, can I put some after some time?

Wrote :

03-05-2018 12:55:19

Sir, you haven't attained 60 years of age, so it won't be available for you. Multiple policies can be taken provided limit does not exceed 1500000.

Write CommentReply

Wrote :

22-04-2018 06:41:59

What is Max. Deposit limit in pmvvy?…

Wrote :

23-04-2018 00:07:26

Currently it is 750000 and the limit has been increased to 1500000 in budget speech but it is yet not available from lic, please wait for some time.

Wrote :

24-04-2018 14:29:14

In last Budget it was declared that PMVVY plan # 842 will be increased from Rs 7.50 lacs to Rs 15.00 lacs w.e.f. 01.04.2018 onwards but why is so much delay ?Still it is not available with LIC .Please inform the tentative date of availability of extension plan .

Wrote :

26-04-2018 12:41:09

Extended limit is still not available.

Write CommentReply

Wrote :

08-03-2018 11:33:59

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

Wrote :

10-03-2018 12:21:45

It is 8% in monthly mode and 8.3% in yearly mode.

Write CommentReply

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 ?

Wrote :

02-02-2018 00:06:30

Yes, pension for 10 years and on completion of 10 years, purchase price is returned.

Write CommentReply

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?

Wrote :

06-01-2018 13:31:08

In case of death before 10 years, pension shall stop and deposited amoumt will be returned.

Write CommentReply

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

Wrote :

12-12-2017 18:08:43

You may take two polices provided total pension must not increase 60000 per year.

Write CommentReply

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

Wrote :

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

Write CommentReply

Write Comment & Reviews

Related Links
More Links