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Pradhan Mantri Vay Vandana Yojana: A Government-Backed Pension Scheme for Indian Seniors
Pension scheme for senior citizens providing assured pension of 8% per annum for 10 years with investment up to ₹15 lakh.
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Pradhan Mantri Vay Vandana Yojana is a pension scheme exclusively for senior citizens aged 60 years and above. It provides guaranteed pension with life insurance cover.
Key Features
- Assured pension: 8% per annum
- Investment limit: ₹15 lakh
- Pension payment: monthly, quarterly, half-yearly, or annually
- Loan facility: up to 75% of deposit after 3 years
- Maturity benefit: full deposit refund
- Life insurance: proportionate to pension amount
Frequently Asked Questions
Senior citizens aged 60 years and above. Maximum investment ₹15 lakh.
8% assured pension, ₹15 lakh max investment, loan facility, life insurance cover.
1. Visit LIC office or online at licindia.in
2. Fill PMVVY application form
3. Submit KYC documents
4. Investment amount
5. Pension starts immediately
2. Fill PMVVY application form
3. Submit KYC documents
4. Investment amount
5. Pension starts immediately
Aadhaar Card, PAN Card, Bank account details, Passport size photos, Age proof
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