Pradhan Mantri Vaya Vandana Yojana, PMVVY 2017, Mode of Pension Payment for PMVVY 2017, Steps to apply for PMVVY 2017, Features of PMVVY 2017
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About Pradhan Mantri Vaya Vandana Yojana:
Government of India has declared Pradhan Mantri Vaya Vandana Yojana for national age sixty years and on top of LIC of India has been given the only privilege to control this scheme. The Pradhan Mantri Vaya Vandana Yojana has been released on May 4th, 2017.The scheme shall be out there for one year from date of launch.
भारत सरकार ने राष्ट्रीय वर्ष के साठ साल के लिए प्रधान मंत्री वयादाना योजना की घोषणा की है और भारत के एलआईसी के शीर्ष पर इस योजना को नियंत्रित करने का एकमात्र विशेषाधिकार दिया गया है। यह योजना प्रेषण की तारीख से एक वर्ष के लिए होगी। प्रधान मंत्री वाया वंदना योजना को 4 मई 2017 को लागू किया गया था।
- Pension Payment :
On survival of the pensionary throughout the policy term of ten years, pension arrears (at the end of every amount as per mode chosen) shall be collectable.
- Death Benefit:
On death of the Pensioner over the 10 years of the scheme term, the Price of investment shall be repaid to recipient.
- Maturity Benefit:
On durability of the pensioner to the end of the 10 years of the scheme term, Purchase price shall be payable along with final pension installment .
Mode of pension payment:
The methods for pension payment are quarterly, monthly, yearly, half-yearly basis. The payment for pension shall be done via Aadhaar Enabled Payment System or NEFT.
The initial part of pension shall be compensated after 1 month, 3 months, 6 months, 1 year, or from the date of investing of the same confide on the method of pension payment i.e. monthly, quarterly, half-yearly, yearly basis respectively.
Pradhan Mantri Vaya Vandana Yojana:
Pradhan Mantri Vaya Vandana Yojana (PMVVY) online application forms are recommended through the official web portal of Life Insurance Corporation of India i.e www.licindia.in. After all, the candidates who are interested to apply for this PMMVY pension policy, can visiting the nearest LIC India branch through offline mode.
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a latest pension policy for senior citizens of India which provides an guaranteed return of 8% P.A payable on monthly basis (proportionate to 8.30% p.a. adequate) for 10 years. The whole process to apply online for Pradhan Mantri Vaya Vandana Yojana is given below.
- Rs 1,000/- per month is Minimum Pension
- Minimum Pension for per quarter is Rs 3,000/-
- Minimum Pension for per half-year is Rs 6,000/-
- Minimum Pension for per year is Rs 12,000/-
- Maximum Pension for per month is Rs. 5,000/-
- Maximum Pension for per quarter is Rs 15,000/-
- Maximum Pension for per half-year is Rs 30,000/-
- Maximum Pension for per quarter is Rs 60,000/-
How to Apply Online for Pradhan Mantri Vaya Vandana Yojana:
- Go to the official website of LIC of India by Clicking Here
- Now click on the notification of “Pradhan Mantri Vaya Vandana Yojana”
- Now click on “Buy Online” tab, and then an application form will be appeared.
- Fill the recommended details carefully.
- Now, to proceed further, enter your access id
- As per your wish choose your pension plan to complete the process.
Key Features of PMVVY Pension Policy:
- A guaranteed return of 8% p.a. payable on monthly basis for 10 years.
- Pensioner can choose option of payment via monthly/quarterly/half yearly or yearly basis as the constancy of payment.
- There is no Service tax or GST applicable for this policy.
- A loan of up to 75% of investment price would be accessible for individuals after 3 years of the scheme.
- After the end of 10 years, investment price along with the supreme installment would be payable to the investor.
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