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Pradhan Mantri Vaya Vandana Yojana 2019 (PMVVY) प्रधान मंत्री वय वंदना योजना Pension Scheme for Senior Citizens
The Prime Minister Vara Vandana Yojana (PMVVY) was formally launched by the Union Finance Minister Shri Arun Jaitley on June 21, 2017. However, this plan is available for purchase from May 4, 2017. Its main purpose is to provide regular pension to senior citizens. PMVVY scheme is pension scheme only for senior citizens of 60 years and above who can avail of it, can apply for this by May 3, 2019. Senior citizens can buy it offline and online through Life Insurance Corporation of India (LIC), which has been given the sole authority to operate it. This scheme is a government-aided pension scheme which will take 8% returns in monthly mode and 8.3% returns in annual mode.
Pradhan Mantri Vaya Vandana Yojana 2019 Details
|Name of Yojana||Pradhan Mantri Vaya Vandana Yojana (PMVVY)|
|Target||Pension Scheme for Senior Citizens|
|Age at Entry||60 Years (Completed)
Calculate your Age
|Maximum Age at Entry||No Limit|
|Policy Term||10 Years (Fixed)|
|Pension Receiving Mode||Monthly, Quarterly, Half Yearly or Yearly|
Pradhan Mantri Vaya Vandana Yojana 2019– LIC of India
This scheme is divided into many parts, depending on whether you choose to receive your pension on a monthly, quarterly, semi-annual or annual basis, this plan provides for return of 8% to 8.30% per annum assurance. is. Returns for the monthly option is 8% and it is 8.30% for the annual option. This scheme will be organized only by Life Insurance Corporation of India (LIC).
The minimum purchase price is 1.5 lakhs per month to get a pension, where a senior citizen gets a pension of Rs.1000 per month.
Eligibility Conditions in Pradhan Mantri Vaya Vandana Yojana
|Age||60 Years (Completed)||No Limit|
|Policy Term||10 Years|
|Pension Mode||Monthly, Quarterly, Half-yearly or Yearly|
|Purchase Price||Rs. 1,44,578 for monthly
Rs. 1,47,601 for quarterly
Rs. 1,49,068 for half-year
Rs.1,50,000 for yearly
|Rs. 7,22,892 for monthly
Rs. 7,38,007 for quarterly
Rs. 7,45,342 for half-year
Rs. 7,50,000 for yearly
|Pension Amount||Rs. 1,000/- per month
Rs. 3,000/- per quarter
Rs.6,000/- per half-year
Rs.12,000/- per year
|Rs. 5,000/- per month
Rs. 15,000/- per quarter
Rs. 30,000/- per half-year
Rs. 60,000/- per year
Prime Minister Vaya Vandana Yojana Benefits
The pensioner is payable at the end of each period in the monthly / quarter / half yearly / annual form of his chosen policyholder during the policy term of 10 years.
In the investment of Rs 1,000:
- Rs 80 will be paid in monthly mode
- Rs 80.5 paid in quarterly mode
- 81.3 will be paid in semi-meaningful mode
- Paid in rupees 83 yearly mode
Death Benefit: If the policyholder dies during the 10-year policy period, then the purchase price will be returned to the beneficiary.
Maturity Benefits: If the policyholder stays till the end of the policy term of 10 years, then the purchase price will be refunded with the last pension installment.
Surrender Value: During the term of the policy, the policy allows premature withdrawal for the term, such that the pensioner needs money for the treatment of self or spouse of any serious / terminal illness. In such cases the surrender value payable will be 98% of the purchase price.
Loan: Loan facility is available after completion of 3 policy years. For this, 75% of the maximum loan purchase price can be given, whose interest is 10% PA.
Free Look Period: If a policyholder is not satisfied with the “terms and conditions” of the policy, he can return the policy to the corporation within 15 days from the date of receipt of the policy (30 days if this policy is bought online) due to objections. In this case, the policyholder will get the full amount by reducing the fee for stamp duty and pension payment.
Exclusion: Suicide – There will be no exclusion on the calculation of suicide and the full purchase price will be payable.
Tax Benefit: There is no tax benefit on the purchase of this scheme or the pension amount received through this scheme.
Download – PMVVY Application Form
Prime Minister Vaya Vandana Yojana in Hindi प्रधान मंत्री वय वंदना योजना
केंद्रीय वित्त मंत्री श्री अरुण जेटली 21 जून, 2017 को प्रधान मंत्री वारा वंदना योजना (पीएमवीवीवाय) को औपचारिक रूप से लॉन्च किया था। इस योजना का मुख्य उद्देश्य वरिष्ठ नागरिको को नियमित पेंशन प्रदान करना है। पीएमवीवीवाई योजना केवल 60 वर्ष और उससे अधिक के वरिष्ठ नागरिकों के लिए पेंशन योजना है इच्छुक 3 मई 2019 तक इस के लिए आवेदन कर सकते हैं। वरिष्ठ नागरिकों को लाइफ इंश्योरेंस कॉरपोरेशन ऑफ इंडिया (एलआईसी) के माध्यम से इसे ऑफ़लाइन और ऑनलाइन खरीद सकते हैं। इसे संचालित करने के लिए एकमात्र अधिकार दिया गया है। यह योजना सरकारी सहायता प्राप्त पेंशन योजना है, जो मासिक मोड में 8% रिटर्न और वार्षिक मोड में 8.3% रिटर्न ले सकती है।
Pradhan Mantri Vaya Vandana Yojana – Pension Scheme for Senior Citizens
The benefit of Pradhan Mantri Yad Vandana Yojana is above 60 years of Amir poor. You can apply online and offline for this scheme from 04 may 2017 to 03rd May 2019. Under this scheme, Sum Assured of 8 percent has also been made. Earlier, senior pension insurance scheme was introduced, with pension rate of 9.88%. This year LIC has announced the Prime Minister Youth Vandana scheme 842 for the pension scheme for senior citizens. Annual interest was announced by the Government of India and LIC by 8.30%.