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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 above information is collected by simple google search details may vary.
2. I am not responsible if he LIC agent misguides you and makes you buy some other scheme. I suggest people to go to LIC office and buy this scheme directly instead of calling their known agent.

** There is small difference in investment amount if the mode of pension payment is not monthly.

Detailed analysis can be found in Pattu Sirs website. https://freefincal.com/pmvvy-15-lakh-per-senior-citizen/

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