PMVVY Scheme: Married couple will get monthly pension of Rs 18500 in old age, see what is the plan

Pradhan Mantri Vaya Vandana Yojana : In the Pradhan Mantri Vaya Vandana Yojana run by the Central Government, you are considered a special scheme for pension after retirement. Along with this, monthly pension is guaranteed in the scheme. This scheme was started by the government on 26 May 2020. You can invest in it till March 31, 2023. Under this scheme, husband and wife together can take a guaranteed pension of Rs 18500 every month. After 10 years you will get your entire investment back with interest.

what is the plan
Let us tell you that Pradhan Mantri Vaya Vandana Yojana is a social security scheme and pension plan. It has been brought by the Government of India. It is run by Life Insurance Corporation of India (LIC). The maximum investment limit under this scheme has been fixed at Rs 15 lakh.

Select monthly or yearly plan
If both husband and wife have crossed the age of 60, then they can invest Rs 15 lakh separately. Earlier the limit for investment by one person was Rs 7.5 lakh, which has been doubled later. In this scheme, senior citizens get more interest on investment than other schemes. In this scheme, people of 60 years of age or above can choose a monthly or annual pension plan.

will get pension like this
If both husband and wife invest Rs 15 lakh in this scheme, that is, a total of Rs 30 lakh. The interest on this scheme is 7.40% per annum. In this sense, the annual interest on the investment will be Rs 222000. If it is divided equally in 12 months, then it will be Rs 18500, which will come to your house in the form of monthly pension. If only 1 person wants to take advantage of this scheme, then the annual interest on 15 lakh investment will be Rs 111000 and his monthly pension will be Rs 9250.

Money back after 10 years
Pradhan Mantri Vaya Vandana Yojana is for 10 years. Till then you will continue to get monthly pension on your deposited money. If you stay in the plan till the policy term of 10 years, then after 10 years your entire investment will be returned. By the way, after the start of the scheme, you can surrender from it at any time.

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