A letter related to this has been issued by the company to its investors. After this the name of these schemes will be changed. Let us give you information about their new proposed names.

1) About 10 out of 20 schemes of IDBI will be transferred to LIC MF. After transfer, their name will also change. IDBI Dividend Yield Fund will be renamed as LIC MF Dividend Yield Fund.

(2) The second scheme is IDBI Focusec 30 Equity Fund, the name of this scheme will be changed to LIC MF Focusec 30 Equity Fund.

(3) The third scheme is IDBI Midcap Fund, the name of this scheme will be changed to LIC MF Midcap Fund.

(4) The fourth scheme is IDBI Healthcare Fund, the name of this scheme will be changed to LIC MF Healthcare Fund.

(5) The fifth scheme is IDBI Smallcap Fund, the name of this scheme will be changed to LIC MF Smallcap Fund.

(6) The sixth scheme is IDBI Long Term Value Fund, the name of this scheme will be changed to LIC MF Long Term Value Fund.

(7) The seventh scheme is IDBI Equity Saving Fund, the name of this scheme will be changed to LIC MF Equity Saving Fund.

(8) The eighth scheme is IDBI Gold Exchange Traded Fund, the name of this scheme will be changed to LIC MF Gold Exchange Traded Fund.

(9) The ninth scheme is IDBI Nifty Next 40 Index Fund, the name of this scheme will be changed to LIC MF Nifty Next 40 Index Fund.

(10) The ninth scheme is IDBI Gold Fund of Fund, the name of this scheme will be changed to LIC MF Gold Fund.

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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.

To take advantage of this scheme, one can invest till March 2023. Let us tell you that married couples can take advantage of this scheme after 60 years of age. So let’s know about this scheme in detail.

Know what is Vaya Vandana Yojana: Modi Government PMVVY Scheme

Let us tell you that the Prime Minister’s Vaya Vandana Yojana is a social security scheme through which monthly pension is given to the applicant. It has been implemented by the Government of India. With this, LIC is operating this scheme. If married people are above 60 years of age, then they can invest up to Rs 15 lakh in this scheme.

Know what is Vaya Vandana Yojana: Modi Government PMVVY Scheme

Let us tell you that the Prime Minister’s Vaya Vandana Yojana is a social security scheme through which monthly pension is given to the applicant. It has been implemented by the Government of India. With this, LIC is operating this scheme. If married people are above 60 years of age, then they can invest up to Rs 15 lakh in this scheme.

In this way, every month 10 thousand rupees will be available on investment. There is also a plan in this scheme that one member of the family can invest in this scheme. If you get 5 thousand rupees every month, then you will deposit 8,10,811 rupees.

Amount will be returned in 10 years:

Let us tell you that this scheme of the government is for 10 years and you will get pension every month on your deposited money. If you invest in this scheme for 10 years then all your invested money will be returned. You can surrender this scheme at any time.

The post Good News! Now married people will get Rs 10000 pension, know which is this scheme first appeared on Rightsofemployees.com.