Pradhan Mantri Vaya Vandana Yojana PMVVY Senior citizens pension Scheme available from 4th May, 2017 to 3rd May, 2018. Benefits of the Scheme.
Press Information Bureau
Government of India
Ministry of Finance
20-July-2017 16:08 IST
The Union Minister for Finance, Defence and Corporate Affairs will formally launch the Pradhan Mantri Vaya Vandana Yojana (PMVVY) tomorrow in the national capital. PMVVY is a Pension Scheme announced by the Government of India exclusivelyfor the senior citizens aged 60 years and above which is available from 4thMay, 2017 to 3rd May, 2018. The Scheme can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has been given the sole privilege to operate this Scheme.
Mode of Pension | Minimum Purchase Price | Maximum
Purchase Price |
Minimum Pension amount |
Maximum Pension amount |
Yearly | Rs. 1,44,578/- | Rs. 7,22,892/- | Rs. 12,000/- | Rs. 60,000/- |
Half-yearly | Rs. 1,47,601/- | Rs. 7,38,007/- | Rs. 6,000/- | Rs. 30,000/- |
Quarterly | Rs. 1,49,068/- | Rs. 7,45,342/- | Rs. 3,000/- | Rs. 15,000/- |
Monthly | Rs. 1,50,000/- | Rs. 7,50,000/- | Rs. 1,000/- | Rs. 5,000/- |
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