Pradhan Mantri Vaya Vandana Yojana: To be able to spend the day of retirement comfortably, it is always advisable to start planning investments in advance.
If you do not invest in any safe government or other scheme while doing the job, then you may have to work till retirement. If you are thinking of taking retirement or are looking for a safe government or non-government scheme to prepare for retirement, then now your search is over.
If you want to invest money in a safe place, then you can think of investing in Pradhan Mantri Vaya Vandana Yojana. In this scheme, one thing your money will be safe and secondly by investing here you will get a fixed pension every month. Let us know more about this scheme.
What is Pradhan Mantri Vaya Vandana Yojana (PMVVY)
This scheme is supervised by Life Insurance of India (LIC). The purpose of this scheme is to provide a fixed pension every month to the senior citizens of the country according to their subscription amount or the amount invested. As soon as the investor reaches 60 years of age, he will start getting monthly pension under this scheme. Talking about the interest rate available in the current financial year, senior citizens get 7.40 percent annual interest.
How to get monthly pension of 9,250
If you also want a monthly pension after retirement sitting at home, then for this you will have to invest Rs 15 lakh under this scheme. This is the maximum amount, you can invest even less than this. After this, you will continue to get a monthly pension of Rs 9,250 every month for 10 years. The special thing in this is that after the completion of 10 years, the entire amount will be returned to the investor. You can take pension with any of the options monthly, quarterly, half yearly and annually but once the option is taken it cannot be changed. (PTI)
How to get pension under the scheme?
Under this scheme, a pension of Rs 1,000 to Rs 10,000 is available. Let us tell you that in this scheme only interest amount is available as pension. Meaning if you have deposited Rs 15 lakh, then interest at the rate of 8 per cent will become Rs 1.20 lakh in a year. Now you will get this amount monthly, quarterly, half yearly or annually.
How to invest in this scheme?
You can know more about this scheme and invest by visiting the official website of LIC. Apart from this, LIC agents and LIC offices can also invest in this scheme. Apart from this, you can also call the toll free number 1800-227-717 issued by LIC. For this, you will have to fill a form and also submit a copy of the PAN card, a copy of the address proof and a copy of the first page of the bank passbook. (Reuters)
Benefits available under this scheme
If the investor survives for 10 years of the policy, then pension will be given along with the deposited amount and if the investor dies due to any reason then his nominee will get this deposit. Even if the investor commits suicide, this amount will be given after the policy is over.
