This amazing scheme for senior citizens is ending
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PMVVY: Many types of schemes are being run to make the senior citizens of the country economically and socially prosperous. One of these schemes is Pradhan Mantri Vaya Vandana Yojana. This is an excellent pension scheme. In this, a fixed return is given to senior citizens every month. This scheme is run with the help of Life Insurance Corporation of India, the country’s largest public sector insurance company. However, the deadline for this excellent scheme has been fixed by LIC as 31st March 2024 and till now no information has been given about extending it. In such a situation, only three days are left to avail the benefits of this scheme. This policy was launched by LIC on May 4, 2017. The earlier deadline of this policy was 31 March 2023, which was extended for one year.
What is the special thing about this scheme?
Investment in Pradhan Mantri Vaya Vandana Yojana gets the benefit of minimum pension every month. However, the pension amount depends on the amount invested. In this scheme you can invest from Rs 1.5 lakh to Rs 15 lakh. In this, on an investment of Rs 1.5 lakh, you get a pension of Rs 1,000 every month. Whereas, on an investment of Rs 15 lakh, a pension of Rs 9,250 is available. If both husband and wife invest in this scheme, they can get a pension of at least Rs 18,500 per month. Investment in this scheme has to be made for 10 years. In this, you can take your pension on annual, quarterly, half yearly and yearly basis.
Also Read: Before the Lok Sabha elections, the government increased the honorarium of MNREGA workers, these two states will get the maximum money.
How to apply
To apply for this scheme, you can apply offline or online. You can do it offline by visiting any LIC office or with the help of a registered agent of LIC. Along with this, you can also apply from LIC website. There is also a provision for nominee in this scheme. Due to this, on the death of the insured, the money is given to the nominee.
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