Pradhanmantri Vaya Vandana Yojana: If you are also one of the senior citizens of the country, then you can easily get the benefits of Pradhan Mantri Vaya Vandana Yojana. In this article, correct important facts and information related to the scheme have been shared, through which you can easily apply for the benefits of the scheme.
Pradhanmantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana is a pension scheme of the Government of India, which is operated by LIC. Through this scheme, senior citizens above 60 years of age have to invest Rs 15 lakh for a period of 10 years. Although earlier this amount was Rs 7.5 lakh, but recently it has been increased.
After this investment limit, citizens start getting the benefits of the scheme. During this, the beneficiary candidates can choose the pension process themselves, whether they want to take the pension amount monthly, quarter, half yearly or annually. Along with this, let us tell you that the minimum pension amount you can get through the scheme is Rs 1000 per month.
Objective of Pradhan Mantri Vaya Vandana Yojana
The objective of Pradhan Mantri Vaya Vandana Yojana is to provide pension benefits to the senior citizens of the country after 60 years. Through this scheme, citizens can arrange pension for their own financial support. With this benefit, senior citizens will not have to face any kind of financial problem. Because through Pradhan Mantri Vaya Vandana Yojana, beneficiaries start receiving pension amount every month.
Along with this, let us tell you that pension in many government jobs has been abolished by the government. Due to which a working person is deprived of pension benefits after retirement. But now through this policy, citizens of all types of jobs and businesses can get pension by investing after the senior age limit.
Benefits of Pradhanmantri Vaya Vandana Yojana
- Through this scheme you can get pension after 60 years.
- You can invest a maximum of Rs 15 lakh through this scheme.
- This investment has to be made over a time period of 10 years.
- Citizens can avail pension receipt deadlines monthly, quarter, half yearly or annually.
- Through this scheme, the beneficiary will get 8% interest every month.
- If the beneficiary selects the option of annual pension, he will get the benefit of interest rate of 8.40%.
- If in any case the beneficiary citizen dies, the invested amount will go to the nominee.
- The minimum pension available through this scheme is Rs 1,000 per month and the maximum is Rs 10,000 per month.
- However, if in any case you want to opt out of the policy, you are a free citizen to do so. There will not be any kind of pressure on you for this.
Eligibility for Pradhanmantri Vaya Vandana Yojana
- The candidate for this scheme must be a citizen of India.
- The minimum age limit of a citizen eligible for this scheme is 60 years.
- However, its maximum limit is not fixed.
- To avail the benefits of this scheme, the investment amount has to be deposited within 10 years.
Documents required for Pradhan Mantri Vaya Vandana Yojana
- Aadhar card
- PAN card
- income certificate
- caste certificate
- Basic address proof
- bank account
- Photo
- lic registration
Application process for Pradhan Mantri Vaya Vandana Yojana
- To apply for Pradhan Mantri Vaya Vandana Yojana, first of all go to your nearest LIC bank.
- After this, obtain the application form related to Pradhan Mantri Vaya Vandana Yojana from the officials.
- After this, enter all the important information related to the application form carefully.
- However, in this application form you also have to select the amount to be invested. The maximum limit of which is up to Rs 15 lakh.
- You have to enter the investment amount as per your capacity.
- After this, attach all the important documents to the application form.
- By doing this the process of form application will be completed.
- After this the form has to be resubmitted to the authorities.
- After which you can start investing. Because now you become a policyholder of LIC.
- However, you can also apply online for PMVVY policy.
- For this, first of all you have to go to the official website of LIC. In this you have to click on LIC Policy option.
- In which the option of Pradhan Mantri Vaya Vandana Yojana will also be available.
- By clicking on which you can apply for PMVVY pension policy.
