Today we are telling you about two such schemes of LIC which are going to be closed from this month itself. These schemes are Pradhan Mantri Vaya Vandana Yojana (PMVVY) and LIC Dhan Varsha Scheme. Let’s know in detail…

Pradhan Mantri Vaya Vandana Yojana- PMVVY

This is the pension scheme of LIC. The government will close this scheme on 31st March. That is, if you want to join this scheme, then you have only 10 days left. In this, investors get the benefit of 7.4 percent per annum interest rate on monthly investment. The benefit of this rate of pension can be taken till 31 March 2023.Let us tell you that the Central Government has started a pension scheme called Pradhan Mantri Vaya Vandana, which was started on 4 May 2017.In this, the maximum pension of Rs 1.20 lakh is available annually.

LIC Dhan Varsha Scheme-

LIC Dhan Varsha Scheme is a non-linked, personal, savings and single premium insurance plan.You have two investment options under LIC’s Dhan Varsha scheme.In the first, the return of premium is up to 1.25 and in the second, on the death of the policyholder, his family gets a strong return of up to 10 times.

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This scheme has been created with the aim of giving pension benefits to the elderly. In this scheme, the amount of pension is given to the elderly according to their investment. Through this scheme, any senior citizen can get a pension of up to Rs 9,250.

If you also want to take advantage of this scheme, then you have very little time left for the application. You can get the chance to apply in this only till March 31, 2023. After this, even if you want, you will not be able to take advantage of this scheme. Know here the special things related to this scheme.

investment based pension

Under Pradhan Mantri Vaya Vandana Yojana, a minimum monthly pension of Rs 1000 and a maximum of Rs 9250 can be taken. How much pension you will get depends on your investment. A maximum of Rs 15 lakh can be invested in the scheme. If you invest Rs 1.50 lakh, then you are given Rs 1000 monthly as pension, whereas if you invest Rs 15 lakh, you get Rs 9,250 as pension. If both husband and wife together invest Rs 15 lakh each, then you can get up to Rs 18,500.

Calculation of pension of Rs 18,500

At present, in PMVVY, senior citizens get interest at the rate of 7.4 percent. If you invest Rs 15 lakh in this scheme, then you will get a total of Rs 1,11,000 according to the annual interest of 7.4 percent. If you divide this amount in 12 parts, then a total of Rs 9,250 will be made. In this way you will get Rs 9,250 as pension every month. On the other hand, if husband and wife invest Rs 15 lakh each i.e. a total of Rs 30 lakh, then both will get Rs 9,250 separately i.e. a total of Rs 18,500 as pension.

Pension benefits for 10 years

Any person 60 years or older can invest in Pradhan Mantri Vaya Vandana Yojana. After investing, you can take advantage of pension for 10 years. The invested amount is returned along with the final payment of pension after 10 years. But if you want, you can surrender anytime before 10 years after the start of this scheme. In this, you are also given the option of monthly, quarterly, half-yearly and annually to get pension. You can choose this option of your own free will.

Application system

To apply for the scheme, one has to apply by visiting the official website of LIC. If you want, you can also apply offline. The first installment of pension will be received after one month, three months, six months or one year of your investment. It depends on which option you have chosen for pension, monthly, quarterly, half yearly or yearly.

The post Big Update for Senior Citizens ! ₹ 9,250 monthly pension will not be able to take advantage of this scheme after March 31, know the details first appeared on Rightsofemployees.com.

The investment limit has been increased in both the schemes. A new scheme has been introduced for women. Its name is Mahila Samman Savings Certificates ( MSSC ). Finance Minister Nirmala Sitharaman announced this in the Union Budget on 1 February. Another scheme already exists for senior citizens. Its name is Pradhan Mantri Vaya Vandana Yojana ( PMVVY ).

All the schemes belong to the government

An elderly couple investing Rs 1.1 crore in these schemes can earn a monthly income of around Rs 70,500 per month. The special thing is that all these schemes belong to the government. That’s why there is no risk of sinking money in them. If a senior citizen wants regular income after retirement, then he can invest in them and lead a worry-free life.

The maximum limit for investment in SCSS has been increased to Rs 30 lakh. Earlier it was Rs 15 lakh. This means that now an elderly couple can invest up to Rs 60 lakh in this scheme. This scheme is available in India Post Office and Banks. Its duration is 5 years. After maturity, you can extend it for another three years. The government reviews its interest rate every quarter. Right now the interest rate in this scheme is 8 percent. Its payment is done every quarter.

The investment limit in POMIS has been increased to Rs 9 lakh. Earlier it was Rs 4.5 lakh. This means that an elderly couple can invest Rs 18 lakh in this scheme. Its interest rate is 7.1 percent per annum. Its payment is done every month. This scheme is also for five years. The special thing is that even such people who are not senior citizens can invest in this scheme.

MSSC is new scheme. This is for girls and women. Maximum Rs 2 lakh can be invested in this for 2 years. This scheme will mature in March 2025. Its interest rate is 7.5 percent. The details of this scheme are still awaited.

Now let’s talk about PMVVY. Up to Rs 15 lakh can be invested in this scheme. This is for senior citizens. LIC manages this scheme with a duration of 10 years. Its interest rate is 7.4 percent. An elderly couple can invest Rs 30 lakh together in this scheme.

In the above mentioned schemes the elderly couple will have to invest a total of Rs 1.1 crore.

Understand calculation like this

You will get a tax-deduction under Section 80C of the Income Tax Act for investing Rs 1.5 lakh in SCSS in a financial year. Debt Corporate Trainer Joydeep Sen said, “Small savings schemes are very easy to understand. Hence there is no scope for misselling.” Interest is paid quarterly in SCSS. The frequency of interest payment of MSSC has not been disclosed yet. In this calculation, we have assumed that the current interest rates will remain the same.

Be mindful of taxes and lock-in

Amol Joshi, Founder, Plan Rupi Investment Services, said that these schemes are good for those who want assured returns with safety of money. However, one thing needs to be kept in mind that you will have to pay tax on the income from these. Secondly, since investing in these schemes, your money gets locked till the maturity of the scheme. Therefore, you should have an emergency fund to meet the money requirement in between.

The post Senior citizens can get a monthly regular income of Rs 70,500, here’s how first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Pension Plan for Senior Citizen! Government has brought a new scheme forc, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

In such a situation, if you want that after retirement you do not have to yearn for anything, then you should start thinking about this scheme immediately because in today’s date, pension is the need of every elderly person. If you apply in this scheme in time, then you will not have the tension of expenses after the job because you will continue to get 5 thousand rupees every month from this scheme.

Invest in Pradhan Mantri Vaya Vandana Yojana soon

This scheme is operated by the Government of India company Life Insurance Corporation ie LIC. The full name of this scheme is Pradhan Mantri Vaya Vandana Yojana (PMVVY). Which is considered a very good scheme for senior citizens. Under this scheme, you will continue to get the benefit of pension after retirement. You can invest in it without any tension because the Government of India oversees this scheme. If you invest Rs 7.50 lakh in this scheme once, then you will start getting a pension of Rs 5 thousand every month.

You can invest in post office

If you do not have lump sum amount then you can also invest in post office. The post office runs very famous savings schemes for senior citizens. Similarly, you can apply for Senior Citizen Savings Scheme. Your investment in this scheme also remains completely secure. The advantage of this scheme is that you get interest every three months. This interest is deposited in your post office account. The Finance Ministry changes the rate of interest on this scheme every three months.

Monthly savings scheme

Anyone can apply in this scheme. Monthly Income Scheme is one of the best post office schemes. The advantage of investing in the post office is that the risk of money sinking is negligible. In this, the account holder gets monthly income. If you want to invest in this scheme, then you will have to invest for 5 years. You get returns on completion of the term of this scheme. If you want you can invest again.

Buy tax free bonds

The government issues several types of tax free bonds. You can invest in that too. Such as NTPC Limited, Indian Railway Finance Corporation, NHAI. You have to invest in these bonds for 10 years. On these you are given an interest of 5.5% to 6.5%. However, you will continue to get interest every year. The advantage of investing in this scheme is that the entire amount is tax free.

The post Senior Citizen New Scheme: Good News! You will get monthly 5,000 rupees, Apply in this scheme immediately first appeared on Rightsofemployees.com.

This is good news for senior citizens. But, it seems that on the one hand the government has increased the investment limit in SCSS and on the other hand it has ended the investment opportunity in the scheme. The government has not announced the continuation of Pradhan Mantri Vaya Vandana Yojana ( PMVVY ). The scheme will close on March 31, 2023.

Government has given from one hand and taken from the other.

PMVVY is a government scheme for retired people. Investing up to Rs 15 lakh in this can earn almost tax-free returns. If the government does not issue a notification to continue this scheme, it means that you will not be able to invest in this scheme after March 31, 2023. It seems that the government has cleared the way for senior citizens to increase investment in SCSS on the one hand and has closed the way for investment in PMVVY on the other.

Investor benefits from allowing more investment in SCSS

Experts say that even if the government has given something with one hand and taken it with the other hand, it is beneficial for the investors (senior citizens). Let us understand how it is beneficial. The interest rate in Senior Citizens Savings Scheme (SCSS) is 8% per annum. In comparison, the annual return in PMVVY is 7.4 per cent. Interest is paid quarterly in SCSS. PMVVY has a monthly interest payment option. One can invest in SCSS only for five years. But, there is a chance to invest in PMVVY for 10 years.

SCSS is more attractive than PMVVY

But, in terms of tax, SCSS is more beneficial for senior citizens. Under Section 80C of the Income Tax Act, 1961, tax deduction can be availed by investing Rs 1.5 lakh annually in SCSS. There is no facility to claim tax deduction under section 80C on investment in PMVVY. Second, the advantage is in case of premature withdrawal. Premature withdrawal is easy in SCSS. After opening the account, you can withdraw money from it. You will not get the benefit of interest or have to pay penalty.

In PMVVY, if you close the account before one year, then you will not get interest. If interest has been paid to you, it will be deducted from the principal amount. However, premature withdrawal is allowed in PMVVY under certain circumstances. The investor can withdraw his money from this scheme for the treatment of himself or his wife.

You can take advantage of both the schemes

If you want to take advantage of both the schemes, you can do so. For this you have to invest in PMVVY before March 31, 2023. After that you can also invest an additional Rs 15 lakh in SCSS on or after 1st April. Thus you stand a chance to earn assured returns on a total safe investment of Rs 45 lakhs.

The post Senior citizens will be able to invest additional 15 lakhs in SCSS from April 1, but PMVVY will be closed, know what is the matter first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Good news! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

Means people will not get this scheme from April 1, 2023, the new financial year. LIC is running Pradhan Mantri Vaya Vandana Yojana (PMVVY). Under the PMVVY scheme, the Government of India provides pension facilities to senior citizens of 60 years of age. The central government led by PM Narendra Modi had revised the PMVVY scheme in 2020.

Maximum investment can be made in PMVVY

Under the Revise PMVVY scheme, senior citizens can currently invest in the policy up to a maximum of Rs 15 lakh. An annual interest of 7.4% is available on purchasing the policy. If you buy a PMVVY policy for Rs 15 lakh, it will pay you 7.4% i.e. a 10 year policy and will give you Rs 1.1 lakh as interest at the end of the year. You can invest a minimum of Rs 1,56,658 in this.

This is the minimum pension

Rs 1,000 per month

Rs 3,000 per quarter

Rs 6,000 per half year

Rs 12,000 per annum

Maximum PMVVY Pension

Rs 9,250 per month

Rs 27,750 per quarter

Rs 55,500 per half year

Rs 1,11,000 per annum

You can invest minimum and maximum

For annual pension, a minimum of Rs 156,658 and a maximum of Rs 14,49,086 can be invested.

For half yearly pension minimum Rs 159,574 while maximum Rs 14,76,064 will have to be invested.

For quarterly pension, you can invest a minimum of Rs 161,074 and a maximum of Rs 14,89,933.

You can invest a minimum of Rs 162,162 and a maximum of Rs 15,00,000 for monthly pension.

Last date to apply in PMVVY scheme

The last date to apply for LIC PMVVY scheme is March 31, 2023.

Should You Apply?

PMVVY is a good scheme for senior citizens to get pension with the option of taking money monthly, quarterly, half-yearly and annually. This scheme gives an interest of 7.4%. Getting money in this scheme starts only after one month of investment. This policy is for 10 years. You get the policy money back after 10 years.

The post New Monthly Pension Plan: Government brought new pension plan! You will get Rs 9,250 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Good News! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Pension Plan for Senior Citizen! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Good News! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Pension Plan for Senior Citizen! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

Life Insurance Corporation of India (LIC) is running this scheme. If both husband and wife invest together under this scheme, then they can get a monthly pension of up to Rs 18,500 in old age. Know here the important things related to PMVVY.

Any senior can invest

To take advantage of this pension scheme, any senior citizen can invest in it. Earlier the limit for investing in this scheme was Rs 7.50 lakh, but now it has been increased to Rs 15 lakh. 7.4 percent interest is available in PMVVY. If both husband and wife separately invest Rs 15-15 lakh in this scheme, then they can get a monthly pension of up to Rs 18,500 from the government every month. But you have to invest for this before 31 March 2023

Pension benefit according to investment

Under Pradhan Mantri Vaya Vandana Yojana, monthly pension is available for a minimum of Rs 1000 and a maximum of Rs 9250. This pension depends on your invested amount. If you invest Rs 1.50 lakh in this, then you are given Rs 1000 monthly as pension, whereas if you invest Rs 15 lakh, you get Rs 9,250 as pension.

Understand the calculation of pension of Rs 18,500

If you invest Rs 15 lakh in this scheme, then you will get an annual interest of 7.40% on it, which will be Rs 1,11,000 in total. If you divide this amount in 12 parts, then a total of Rs 9,250 will be made. In this way you will get Rs 9,250 as pension every month. On the other hand, if husband and wife invest Rs 15 lakh each i.e. a total of Rs 30 lakh, then both will get Rs 9,250 separately i.e. a total of Rs 18,500 as pension.

Will get pension for 10 years

Under this scheme, the person is given the benefit of pension for 10 years, after 10 years the invested amount is returned with the last payment of pension. But if you want, you can surrender anytime before 10 years after the start of this scheme. In this, you are also given the option of monthly, quarterly, half-yearly and annually to get pension. You can choose this option of your own free will.

How to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. If you want, you can also apply offline. The first installment of pension will be received after one month, three months, six months or one year of your investment. It depends on which option you have chosen for pension, monthly, quarterly, half yearly or yearly.

The post Senior Citizen Best Pension Scheme: Government will give pension up to Rs 18,500 to senior citizens in this scheme, know details here first appeared on Rightsofemployees.com.

What is Vaya Vandana Yojana? (Vay Vandana Yojana)

This scheme was started by the Central Government on 26 May 2020. This is such a social security (Modi Sarkar Pension Scheme) scheme, in which the beneficiary will get a monthly pension. Government of India has brought this scheme and it is being operated by Life Insurance Corporation of India (LIC). If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Let us tell you that earlier the investment limit was Rs 7.5 lakh, which has been doubled. Not only this, senior citizens get more interest in this scheme.

Pension of Rs 9,250 per month on investment of Rs 15 lakh

All citizens above the age of 60 years can invest up to Rs 15 lakh in this special scheme. But keep in mind that you will have to make this investment before March 31, 2023. In this, depending on the investment, a pension of Rs 1000 to Rs 9250 is available every month. That is, if you invest a minimum of Rs 1.50 lakh, then you will get a pension of Rs 1,000 every month, while an investment of Rs 15 lakh will get a pension of Rs 9,250 per month. If husband and wife invest in this scheme, then Rs 30 lakh will have to be invested and then both of you will get a pension of Rs 18,500 every month.

Full amount will be received in 10 years

Let us tell you that this scheme is for 10 years, that is, in 10 years you will get the full amount back. Apart from this, you will also continue to get monthly pension on the deposited money. The biggest feature of this scheme is that if you remain in this scheme for 10 years, then after 10 years you will get back your invested money. Not only this, you can surrender this scheme anytime.

The post Good news for married people! Now the government will give 18,500 monthly pension, apply soon first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. Thek best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Senior Citizen Super Pension Plan! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Good News! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post Good News! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know other important information related to Prime Minister Vaya Vandana Yojana from LIC’s Chief Insurance Advisor Deepti Bhargava.

What is PMVVY Scheme?

Prime Minister Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum.

If both husband and wife want to take benefit of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

Money back after 10 years

The Prime Minister Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

How much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

How to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want.

The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

The post LIC New Scheme: Big News! Elderly will get pension of Rs 9250 per month, apply before this date first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Good News! Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

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 central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then by investing now, they can take advantage of it after the age of 60 years. Know about the complete plan.

What is Vaya Vandana Yojana? (Vay Vandana Yojana)

Pradhan Mantri Vaya Vandana Yojana is a social security scheme (Modi Sarkar Pension Scheme). Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC). If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

In this way, every month you will get a pension of 10 thousand rupees

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of Rs. 7.40 percent annual interest will also be available on this scheme. In this way you will get 10 thousand rupees as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 8,10,811, you will get a monthly pension of Rs 5000.

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.

The post LIC Pension Scheme: Good news! Central government has brought pension scheme for married people, will get Rs 10,000 every month, check details first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

For policies purchased up to 31-03-2023, the interest rate applicable to the scheme will be 7.40% p.a. payable monthly (i.e. equal to 7.6% p.a.). This assured interest rate will be payable for the full policy term of 10 years for all policies purchased up to 31st March 2023.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

“For Financial Year 2022-23, the Scheme shall provide an assured pension of 7.40% p.a. payable monthly. This assured rate of pension shall be payable for the full policy term of 10 years for all the policies purchased till 31st March, 2023.”

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know other important information related to Prime Minister Vaya Vandana Yojana from LIC’s Chief Insurance Advisor Deepti Bhargava.

What is PMVVY Scheme?

Prime Minister Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum.

If both husband and wife want to take benefit of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

Money back after 10 years

The Prime Minister Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

How much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

How to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want.

The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

The post LIC Scheme: Elderly will get pension of Rs 9250 per month, apply before this date first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

For policies purchased up to 31-03-2023, the interest rate applicable to the scheme will be 7.40% p.a. payable monthly (i.e. equal to 7.6% p.a.). This assured interest rate will be payable for the full policy term of 10 years for all policies purchased up to 31st March 2023.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.

If you want to invest in this scheme, then you can choose it anytime till March 31, 2023. There is a fixed interest on your investment in PMVVY, on the basis of which your monthly pension is decided. It can be availed at the age of 60 years or after. Know from LIC’s Chief Insurance Advisor Deepti Bhargava other important information related to Pradhan Mantri Vaya Vandana Yojana.

What is PMVVY Scheme?

Pradhan Mantri Vaya Vandana Yojana is for the elderly people of India, whose age is 60 years or more. There is no age limit for investing in this scheme. A maximum investment of Rs 15 lakh can be made under PMVVY. The amount has to be deposited in lump sum. If both husband and wife want to take advantage of the scheme, then both can deposit up to Rs.15 lakhs separately. On investing in this scheme, senior citizens get better interest than investing in other schemes. The pension is decided on the basis of your invested amount.

money back after 10 years

Pradhan Mantri Vaya Vandana Yojana is for 10 years. Till then your money will be deposited in the scheme and you will continue to get pension. This amount will be returned with the final payment of pension after 10 years. The interest rate on the amount invested in this scheme will be 7.40 per cent per annum, which will be given as pension every month. If you want, you can surrender from this scheme anytime after the start of the scheme.

how much pension will you get

The minimum monthly pension in this scheme is Rs 1000 and the maximum is Rs 9250. If you invest Rs 15 lakh in this scheme, then the annual interest at the rate of 7.40 percent will be Rs 111,000. If it is divided into 12 parts, then a monthly pension of Rs 9250 will be made. The lump sum amount deposited under the scheme is tax free under section 80C of the Income Tax Act 1961. But the beneficiary will have to pay tax on the interest earned from the amount invested.

how to apply

To apply for the scheme, one has to apply by visiting the official website of LIC. You can also apply offline if you want. The first installment of pension will be received after one month, three months, six months or one year from the date of your investment. It depends on which option you have opted for monthly, quarterly, half yearly or yearly pension. You will be given pension based on the amount you invest.

The post LIC Scheme: This government scheme will give pension to the elderly up to Rs 9250 every month, but you have to apply before this date! first appeared on Rightsofemployees.com.

Under the PMVVY scheme, senior citizens get a pension of Rs 9250 every month by investing Rs 15 lakh. Not only this, on completion of 10 years, the entire money of the scheme i.e. Rs 15 lakh is returned.

Pradhan Mantri Vaya Vandana Yojana (PMVVY) has the facility of monthly, quarterly and yearly pension mode. The payment is made to the subscriber under the payment mode chosen by him. If one has selected monthly mode, then pension starts the next month. Senior citizens can subscribe till 31 March 2023. Only Indian citizens living in the country can take advantage of this scheme.

Medical examination & loan facility

The subscriber does not need any medical examination for the PMVVY scheme. There is also a loan facility on completion of three years of the scheme. In this, a loan can be taken up to 75 percent of the purchase price.

Minimum and maximum price plans (Minimum, maximum purchase price and pension)

In this, Rs 1,62,162 will have to be invested for a monthly pension of Rs 1000. In this scheme, a monthly pension of Rs 9250 will be available for 10 years on maximum investment of Rs 15 lakh. At the same time, the entire amount invested is returned after 10 years. There are many options of pension plan in this, but once selected, the payment option cannot be changed.

How to buy

You can buy it online from LIC’s website

The post Monthly Pension Scheme: Under the government scheme, these people will get a monthly pension of Rs 9250 first appeared on Rightsofemployees.com.

If you are a senior citizen, then today we have brought such a government scheme for you, from which you will get a hefty pension immediately. In this your principal money remains safe and returns are also available at regular intervals.

The best part is that under this government scheme, both husband and wife together after the age of 60 can avail the guaranteed benefit of pension of Rs 18500 every month. The best part is that after 10 years your entire investment will also be returned. Only a few months are left for senior citizens to invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY). SIC operates this scheme.

In the PMVVY scheme, the government provides a subsidized pension scheme for senior citizens aged 60 years and above. Under this scheme, immediate monthly, quarterly, half-yearly or annual pension facility is given to senior citizens. Investors have to pay a lump sum of Rs 15 lakh to take advantage of this scheme.

Deadline is March 31, 2023

Any person who has attained the age of 60 years can invest in this scheme till March 31, 2023. With only a few months left for the PMVVY sale to end, let’s take a look at how much benefits, eligibility and how much pension senior citizens can get by subscribing to this scheme.

Eligibility for PMVVY

According to the LIC website, senior citizens of India aged 60 years (completed) and above can invest in the PMVVY scheme. There is no upper age limit to buy this plan.

PMVVY Scheme Term and Pension Payment

The duration of this scheme for senior citizens is 10 years. Pension payment under PMVVY can be made on monthly, quarterly, half yearly or yearly basis depending upon the mode chosen by the buyer. The first installment of pension under PMVVY starts after 1 year, 6 months, 3 months or 1 month from the date of purchase of the scheme. For example, if you have opted for monthly mode of pension payment and if you buy the plan now then your pension will start after 1 month.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

Interest Rate on PMVVY

For policies purchased up to 31-03-2023, the interest rate applicable to the scheme will be 7.40% p.a. payable monthly (i.e. equal to 7.6% p.a.). This assured interest rate will be payable for the full policy term of 10 years for all policies purchased up to 31st March 2023.

PMVVY Pension Purchase Price

The minimum pension allowed under investment in PMVVY is Rs 1000 per month while the maximum pension is Rs 9250 per month. The minimum purchase price available under the scheme is Rs 1,62,162 for monthly pension, Rs 1,61,074 for quarterly pension, Rs 1,59,574 for half yearly pension and Rs 1,56,658 for annual pension. The maximum purchase price available under the scheme is Rs 15 lakh for monthly pension, Rs 14,89,933 for quarterly pension, Rs 14,76,064 for half yearly pension and Rs 14,49,086 for annual pension.

The post New Pension Plan: Government has brought a new scheme for senior citizens, will get Rs 18500 pension every month first appeared on Rightsofemployees.com.