Modi Government PMVVY Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government, under which monthly pension is guaranteed. This scheme was started by the Modi government on 26 May 2020. To be a part of this scheme, investments can be made till March 31, 2023. In this scheme, people of 60 years or above can choose a monthly or annual pension plan. Know about the complete plan.
What is Vaya Vandana Yojana?
Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while the scheme is being operated by Life Insurance Corporation of India (LIC). Those who have crossed 60 years of age can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which has now been doubled. Compared to other schemes, senior citizens get more interest in this scheme. Let us tell you that people of 60 years of age or above can choose this pension plan.
This is how you will get monthly pension of Rs 9250
If you also want to take advantage of this scheme, then you will have to invest an amount of Rs 15 lakh in the Pradhan Mantri Vaya Vandana Yojana. Under this scheme, you will also get 7.40 percent annual interest. Accordingly, the annual interest on the investment will be Rs 111000. If it is divided in 12 months, then an amount of Rs 9250 is formed, which you will get as monthly pension. If you want to take a monthly pension of 1000 rupees in this scheme, then you will have to invest 1 lakh 50 thousand rupees.
Full amount back in 10 years
This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years, then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.
