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PMVVY: Pradhan Mantri Vaya Vandana Yojana Pension Scheme

PMVVY Pension Scheme: Pradhan Mantri Vaya Vandana Yojana

 

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension scheme, subsidized by the Government of India. This scheme was launched on May 4th 2017 and has been extended till March 2020.The money you invest in PMVVY scheme is called the “purchase price”. PMVVY gives you an assured pension. Depending on the pension option you choose, you get a monthly, quarterly or a yearly pension. PMVVY has doubled the maximum amount you can invest from Rs 7.5 Lakhs to Rs 15 Lakhs per senior citizen.With PMVVY, you a senior citizen can earn a maximum pension up to Rs 10,000 a month. With PMVVY, senior citizens can earn steady regular income when FD interest rates are going down. You get a fixed and assured pension for a period of 10 years (till the scheme matures).

 
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