PRADHANAMANATRI VAYAVANDANA SCHEME -
Guaranteed pension PLAN
Guaranteed pension PLAN
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PRADHANAMANTRI VAYAVANDANA SCHEME

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension scheme launched by the Government of India for senior citizens aged 60 years and above. The scheme provides a guaranteed pension for 10 years and is administered by the Life Insurance Corporation of India (LIC).
Under PMVVY, senior citizens can invest a lump sum amount in return for a guaranteed pension at a specified rate of interest. The minimum investment amount is Rs. 1.5 lakh, and the maximum investment amount is Rs. 15 lakh.
The scheme provides a fixed rate of interest of 7.4% per annum payable monthly for the entire duration of 10 years. The pension amount is directly credited to the bank account of the policyholder. In case of death of the policyholder during the policy term, the purchase price of the policy is refunded to the nominee.
PMVVY aims to provide social security to senior citizens and ensure a dignified life after retirement. The scheme is available until March 31, 2023.
NEW ARTICLE PUBLISHED
TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
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TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
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