PMVY

 

Pradhan Mantri Vaya Vandana Yojana (PMVVY)

> Implemented by Life Insurance Corporation

> the scheme will earn an assured return of 7.4 per cent per annum which will be payable monthly for the entire duration of 10 years. 

>  Cabinet approved its extension up to March 31, 2023.

> Senior citizens (age 60 years and above)

> PMVVY gives a guaranteed payout of pension at a specified rate for 10 years. It also offers a death benefit in the form of return of purchase price to the nominee.

>The modes of pension payment are monthly, quarterly, half-yearly and yearly. 

> Investment in Lump Sum Form only. Minimum: 1.5 Lakh Max :15 lakhs