Pradhan Mantri Vaya Vandana Yojana. Understand PM Vaya Vandana Yojana for country seniors here

What is PM Vaya Vandana Scheme, how to apply for PM Vaya Vandana Yojana, where to apply for PM Vaya V- India TV Paisa
Photo: CANVA Avail PM Vaya Vandana Yojana benefits for seniors by investing up to Rs 15 lakh.

After retirement, people begin to make arrangements in advance so that they do not face financial problems. Most people invest money in government-issued schemes to secure retirement. The Pradhan Mantri Vaya Vandana Yojana (PMVVY) government is running this scheme in collaboration with LIC for seniors. More than one family member can take advantage of this. Both husband and wife can secure their retirement by investing in this plan. For this, what documents will be required and how to apply, definitely find out about it.

Contents hide
1 Know who can take advantage of Pradhan Mantri Vaya Vandana Yojana
2 Invest up to Rs 15 lakh in PM Vaya Vandana Yojana
3 These documents will be required and apply here
3.1 Related

Know who can take advantage of Pradhan Mantri Vaya Vandana Yojana

Pradhan Mantri Vaya Vandana Yojana can be used after the age of 60. There is no prescribed age to invest in it. It is a kind of insurance policy and pension plan. It is operated by Life Insurance Corporation of India. Initially, the money could be invested only between May 4, 2017 and March 31, 2020. But now the time period of this scheme has been extended until March 31, 2023. How much pension will be received after the retirement, this amount will depend on the investment.

Invest up to Rs 15 lakh in PM Vaya Vandana Yojana

There is no fixed amount of how much one can invest in Pradhan Mantri Vaya Vandana Yojana. But you can invest up to a maximum of Rs 1,500,000. This does not give exemption from income tax. You can get GST exemption from Pradhan Mantri Vaya Vandana Yojana. By investing in it, it is very easy to take advantage of the monthly and annual pension according to your need. Invest at least Rs 1.62 lakh to get a pension of 1000 every month. You can get a maximum pension of Rs 9250 by investing Rs 15 lakh in this.

These documents will be required and apply here

  1. To take advantage of Pradhan Mantri Vaya Yojana, you can visit any LIC office near you.

  2. For this, the PAN card and the Aadhaar card will be required.

  3. It is very important to link the PAN card with the Aadhaar card.

  4. Take three passport-size photos and a mobile number with you.

  5. Before visiting the LIC office, match the name and date of birth on all documents once.

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