Pradhan Mantri Vaya Vandana Yojana is Pension plan for Senior citizen announced by Government of India. This plan is government subsidised pension scheme which will avail guaranteed 8% return in monthly mode and 8.3% return in yearly mode. This plan plan can be purchased from LIC up to 03-05-2018.
|Age at Entry||60 Years (Completed)|
|Maximum Age at Entry||No Limit|
|Policy Term||10 Years (Fixed)|
|Pension Receiving Mode||Monthly, Quarterly, Half Yearly or Yearly|
- Pensioner will receive pension amount as per selected mode. Pension will be available on completion of selected mode, for example, in case of monthly mode, pension will be paid on completion of month.
This plan can be purchased on payment of single one time amount, the minimum and maximum limit of one time lump sum amount is given in the following table: