Pradhan Mantri Vaya Vandana Yojana

Posted by Ajay Kumar on January 2nd, 2021

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension scheme for senior citizens offered by Life insurance Corporation (LIC) and run by the ministry of Finance, Government of India.The amended PMVVYLIC Plan 856 can be bought by paying a lumpsum sum.

LIC PM Vaya Vandana Yojana plan gives benefits installments of expressed sum for the arrangement term of 10 years. PMVVY Scheme imagines a guaranteed pace of return of 7.4% per annum (for month to month benefits) for the money related year 2020-21, proportional to 7.66% per annum. In this LIC Pension Plan 856, there is an arrival of price tag toward the finish of 10 years.

PMVVY Scheme last date was 31 March 2020, however focal govt. has broadened its cutoff time for a long time i.e. Now PMVVY last date is 31 March 2023. PMVVY Pension would be paid toward the finish of every period according to installment mode picked begins as right on time as one month from now if month to month mode is picked. On the passing of the retired person whenever during the term of 10 years, the price tag will be discounted to the lawful beneficiaries/chosen people.

Pradhan Mantri Vaya Vandana Yojana was as of late adjusted in May 2020 by the central government is a non-connected, non-taking part, annuity conspire sponsored by the Government of India. As per the new changes, the new loan fee would be checked on and chosen toward the start of new every money related year by the Ministry of Finance. The plan was reached out for a long time up to 31st March 2023.