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Showing posts from February, 2020

Pradhan Mantri Vaya Vandana Yojana (PMVVY) pension scheme

Just came across this article in Economic times  https://economictimes.indiatimes.com/wealth/invest/hurry-this-lic-pension-scheme-that-can-provide-rs-10000-a-month-will-end-march-31/articleshow/74209003.cms A simple google search, I found out these facts about Pradhan Mantri Vaya Vandana Yojana. Turns out this scheme is a wonderful pension plan for people above 60+ age Minimum investment = 1.5 lakh. monthly pension = Rs. 1,000 ** Maximum investment = 15 lakh  monthly pension = Rs15,000 ** Mimimum age of applicant = 60 years Maximum age of applicant = Nil The investment amount will be returned after 10 years to the investor or Nominee. Bad news: As per the above economic times article, this scheme is not getting extended after 31st March 2020. So hurry up and inform all retired people you know to invest in this plan. BTW. it yields 8% per year. Which I think is the highest in current scenario. This scheme can be bought either online or offline. Discliamer: 1. All abo