LIC Pension Scheme: Guaranteed monthly pension of Rs 9250 and complete refund in 10 years, act quickly! Learn more about the plan here

 LIC Pension Scheme: Guaranteed monthly pension of Rs 9250 and complete refund in 10 years, act quickly! Learn more about the plan here.

A social security and pension plan is the PMVVY programme. It was created by the Indian government, but the Life Insurance Corporation of India runs it (LIC). Tell us more about this plan in detail.

Less people want financial security after retirement, according to the Pradhan Mantri Vaya Vandana Yojana (PMVVY Yojana). Most elderly people want to invest their retirement funds in places where they may earn good returns since doing so will ensure that their money is secure and that they have a steady income. The Pradhan Mantri Vaya Vandana Yojana of the Modi administration is one such programme.

Your principal is secure in this, and regular returns are also provided. The best aspect is that under this government programme, after reaching the age of 60, both husband and wife may jointly receive a pension of Rs. 18,500 each month. The best aspect is that you will receive a full refund of your investment after ten years. Tell us more about this plan in detail. -

Pradhan Mantri Vay Vandana Yojana: What is it?

PMVVY, or Pradhan Mantri Vaya Vandana Yojana The Modi administration has established a yojana with an eye towards senior citizens' needs. This programme combines social security and pension benefits. It was created by the Indian government, but the Life Insurance Corporation of India runs it (LIC). Senior folks receive greater interest on investments under the PMVVY programme than under other programmes.

Those who are 60 years of age or older can select between an annual or monthly pension plan under this programme. The scheme's 15 lakh rupee maximum investment cap.

How much will you receive in pension? How do I apply?

For ten years, the monthly pension scheme will earn 8% interest under the Pradhan Mantri Vaya Vandana Yojana. Also, if you select the option for an annual pension, you will get interest at a rate of 8.3 percent for a period of ten years. Both online and offline applications can be made for this government programme. Also, by going to the LIC's official website, you can submit an online application.

Explain that, depending on the plan selected, the insured will receive the first pension installment one year, six months, three months, or one month after depositing the money. Pensions range from 1000 to 9250 rupees per month, depending on investments. Investments in this plan may be made through March 31, 2023.