Pradhan Mantri Vaya Vandana Yojana: To enhance the lives of married people, the Central Government has launched the Pradhan Mantri Vaya Vandana Yojana.
The PMVVY scheme is open to both husband and wife. The needs of senior citizens have been addressed in this. After retirement, both the husband and wife can benefit from a pension of about Rs 18,500 if they both invest jointly in this plan.
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The majority of people are concerned about their regular income after retirement. The post-retirement funds that seniors want to invest in should be in an area where they may receive a steady income. Their investment ought to be secure as well.
On May 4, 2017, the Modi government introduced this scheme with the requirements of senior citizens in mind. This scheme was developed to give senior citizens social security. This plan manages LIC on behalf of the government. The investment cap was previously set at Rs 7.50 lakh, but it has now been raised to Rs 15 lakh.
The Pradhan Mantri Vaya Vandana Yojana offers an annual interest rate of 7.4 per cent. Now, anyone over 60 can deposit Rs 15 lakh in it. The husband and wife can both put money into this plan. At age 60, if both invest Rs. 15 lakh in this plan, each will receive a pension of Rs. 18,300. One spouse and woman will receive Rs 9,250 for every Rs 15 lakh they deposit.
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Every citizen who is at least 60 years old may invest up to Rs 15 lakh. A monthly pension of between Rs. 1000 and Rs. 9250 is available in this, depending on the investment. You can receive a monthly investment of Rs 1,000 if you deposit at least Rs 1.50 lakh. An investment of Rs 15 lakh will yield a pension of Rs 9,250 per month. If husband and wife invest, they will each receive Rs. 18,000 per month after investing Rs. 30 lakh.
Pension payments are available every month, every year, and every six months. This strategy is available both offline and online. LIC’s website offers online purchasing as well. This programme is ten years long. The nominee will get the basic sum in the event of the policyholder’s death.
