Good News: You will get Rs 111000 pension annually from this scheme, know the rules, interest rates and eligibility

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Good News: You will get Rs 111000 pension annually from this scheme, know the rules, interest rates and eligibility
Good News: You will get Rs 111000 pension annually from this scheme, know the rules, interest rates and eligibility

The maximum monthly pension in this scheme will be Rs 9250. When there is a provision of getting quarterly pension of Rs 27,750, half yearly pension of Rs 55,500 and maximum annual pension of Rs 1,11,000.



 

If you are employed and worried about future pension after retirement, then this news is of your use. There is such a scheme of the Central Government, in which you can get a pension of up to 1 lakh annually by investing once. The maximum monthly pension in this scheme will be Rs 9250. When there is a provision of getting quarterly pension of Rs 27,750, half yearly pension of Rs 55,500 and maximum annual pension of Rs 1,11,000. This pension can be taken on monthly, quarterly, half yearly or even yearly basis.

In fact, the Pradhan Mantri Vaya Vandana Yojana (PMVVY) scheme is being run by the Modi government of the Center, which has been extended till 31 March 2023 in the Central Cabinet meeting chaired by Prime Minister Narendra Modi. In this, the fixed rate of return for the financial year 2020-21 has been kept at 7.4 per cent per annum. According to the new rule, for a monthly pension of Rs 1000, the subscriber will have to invest a minimum of Rs 1.62 lakh. 1.61 lakh for quarterly pension, 1.59 lakh for half yearly pension and a minimum investment of Rs 1.56 lakh for annual pension.

In this scheme (PM Vaya Vandana Yojana), any investor can invest up to a maximum of Rs 15 lakh. The maximum monthly pension in this scheme will be Rs 9250. When there is a provision of getting quarterly pension of Rs 27,750, half yearly pension of Rs 55,500 and maximum annual pension of Rs 1,11,000. This scheme has been kept under LIC and being a pension scheme, its benefit can be availed only after the age of 60 years. Now the deadline to join this scheme is till March 2023.

How much interest and money will be received

The special thing is that you have to invest a lump sum money in it. Thereafter, the scheme is reviewed every year on 1st April and the returns are revised. In this, pension is given on quarterly, monthly, half yearly and yearly basis. If you invest Rs 15 lakh in 2021, a fixed return of up to 7.4 percent is given annually till the year 2031. The same investor would have survived even after the policy term of 10 years. If so, he will get back the investment amount along with the last installment of pension. At the same time, if there is death during this period, then the entire investment amount is given to his/her nominee.

Can apply like this

In this scheme, you can apply online by visiting the official website of LIC, buy the policy by registering online and apply offline by visiting the branch of LIC. It is a 10-year tenure plan, in which if the policyholder dies within 10 years, the principal amount goes to the nominee’s account.

For more information

For more information about Pradhan Mantri Vaya Vandana Yojana, you can call on the number 022-67819281 or 022-67819290. The benefits of the scheme can also be understood through the same toll free number – 1800-227-717 and email id – onlinedmc@licindia.com. Apart from this, you can understand about the scheme in detail by visiting the link https://eterm.licindia.in/onlinePlansIndex/pmvvymain.do.

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