Advertisement

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.


Comments & Reviews (21)

Wrote : 11-07-2018 14:01:00

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

Replied : 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.

Replied : 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?

Replied : 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?

Replied : 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?…

Replied : 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 .

Replied : 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.

Replied : 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 ?

Replied : 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?

Replied : 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

Replied : 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

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

Write CommentReply

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

NOT SPARED SENIOR CITIZENS FOR 'TDS'.THERE SHOULD HAVE BEEN A LIMIT FOR INVESTMENT UPTO 10laks Without any TDS deduction.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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.

Write CommentReply

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

Nice and wonderful

Write CommentReply

Write Comment & Reviews

Advertisement

Advertisement