Pradhan Mantri Vaya Vandana Yojana Pension Scheme: After retirement, this plan will provide a sum of Rs 18,500 every month. The government is responsible for this programme.
Pradhan Mantri Vaya Vandana Yojana:
In this case, the government offers a variety of investment and pension plans to its residents, each of which provides a set amount of benefits at reaching the age of 60.
You might invest in one of these plans if you so desire to overcome your financial difficulties in the future.
After retirement, this plan will provide a sum of Rs 18,500 every month. Because the government administers this scheme, there are no losses and both the husband and wife are eligible for pension benefits.
In addition, the full sum will be reimbursed with interest following ten years under this scheme.
Investments are accepted until March 2023.
On May 26, 2020, the Pradhan Mantri Vaya Vandana Yojana was launched. Investments in this are accepted till March 31, 2023.
This programme allows investments up to Rs 15 lakh. It was first established by the Indian government but is now managed by the Life Insurance Corporation of India.
Husband and wife can both receive benefits.
The couple may each contribute up to Rs 15 lakh to this programme if they have reached the age of 60 and wish to do so. Both parties may invest up to Rs 30 lakh under this.
In this plan, the highest interest rate is 7.40 per cent. People over 60 are eligible for this programme.
How much money will be invested?
If the husband and wife each make a separate investment, the total will be Rs 30 lakh. This scheme will pay an interest rate of 7.40 per cent, which translates to an annual interest of Rs. 222000 and Rs. 18500 if distributed over 12 months.
In other words, this sum will be paid out as a pension each month.
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