PMVVY scheme modified! Senior citizens can get Rs 18,500 per month
pension for 10 years.
కేంద్ర ప్రభుత్వం ప్రధాన్ మంత్రి వయ వందన యోజన స్కీమ్ గడువును పెంచింది. మరో మూడేళ్ల వరకు ఈ స్కీమ్ అందుబాటులో ఉంటుంది. అంటే 2023 మార్చి 31 వరకు మీరు ఈ పథకంలో చేరొచ్చు. ఈ స్కీమ్‌లో కేవలం సీనియర్ సిటిజన్స్ మాత్రమే చేరడానికి అవకాశముంది. అంటే మీ ఇంట్లో సీనియర్ సిటిజన్స్ ఉంటే వారి పేరుపై ఈ పథకంలో డబ్బులు ఇన్వెస్ట్ చేయొచ్చు.
పీఎం వయ వందన యోజన స్కీమ్‌లో చేరడం వల్ల సీనియర్ సిటిజన్స్‌కు స్థిర వడ్డీ రేటుతో పదేళ్ల పాటు డబ్బులు అందిస్తారు. అయితే ఇక్కడ మీరు ఒకేసారి డబ్బులు ఇన్వెస్ట్ చేయాల్సి ఉంటుంది. మీరు డిపాజిట్ చేసే డబ్బులు ప్రాతిపదికన మీకు నెలనెలా వచ్చే రాబడి ఆధారపడి ఉంటుంది.
In the Modified PMVVY, the interest rate will keep varying depending on the
financial year in which the investment is made.
PMVVY 2020: Pradhan Mantri Vaya Vandana Yojana (PMVVY) is now available to
senior citizens in its new avatar. Being the sole institution allowed to
mobilize funds in the scheme, the Life Insurance Corporation (LIC) has come
out with the details of the Pradhan Mantri Vaya Vandana Yojana (Modified
2020). PMVVY, which had earlier closed on March 31, 2020, was recently
extended by the government for another three financial years till March 2023.
To invest one may approach any LIC agent or buy it directly from the insurer’s
website. The extension of PMVVY will come as a relief to senior citizens as
the interest rate on bank fixed deposits seems to be falling in a hurry.
PMVVY – New rules
The biggest change in the new modified version is the reduced pension rates.
The Modified PMVVY will carry lesser interest rate on the investment than
before. Unlike in the older version of PMVVY, in the Modified PMVVY, the
interest rate will keep varying depending on the financial year (FY) in which
the investment is made.
The scheme is for 10 years and on investments made in the FY 20-21 till March
31, 2021, the government has declared the interest rate of 7.4 per cent
payable monthly i.e. 7.66 per cent per annum for the entire duration of ten
years. For investments made in the next two FY i.e. 2021-22 and 2022-23, the
government will declare the PMVVY interest rate at the start of each FY.
The annual reset of the assured rate of interest will be effective from April
1st of the financial year in line with the revised rate of returns of Senior
Citizens Saving Scheme (SCSS). For the Modified PMVVY, the maximum rate of
interest is capped at 7.75 per cent at any point.
PMVVY Features
PMVVY is exclusively available to those who are 60 years of age and above. The
PMVVY is a pension scheme for senior citizens that comes with guaranteed
returns on monthly, quarterly, half-yearly or on an annual basis for a period
of 10 years. As an investor, you can decide on the basis of the pension amount
that you want or the purchase price that you want to invest in PMVVY.
The maximum investment that can be made in PMVVY is restricted to Rs 15 lakh
per senior citizen and the maximum monthly pension in PMVVY is Rs 9,250 per
senior citizen. So, if both spouses are above age 60, the maximum monthly
pension can be Rs 18,500 in the family on an investment of Rs 30 lakh. The
pension in PMVVY is not dependant on the age of the investor.
PMVVY- Minimum and Maximum Investment
Mode of Pension: Yearly
Minimum investment (Purchase Price) : Rs 1,56,658
Maximum investment : Rs 14,49,086
Mode of Pension: Half-yearly
Minimum investment : Rs 1,59,574
Maximum investment : Rs 14,76,064
Mode of Pension: Quarterly
Minimum investment : Rs 1,61,074
Maximum investment : Rs 14,89,933
Mode of Pension: Monthly
Minimum investment : Rs 1,62,162
Maximum investment : Rs 15,00,000
PMVVY – Minimum and Maximum Pension
Minimum Pension
Rs. 1,000 per month
Rs. 3,000 per quarter
Rs.6,000 per half-year
Rs.12,000 per year
Maximum Pension
Rs 9,250 per month
Rs. 27,750 per quarter
Rs. 55,500 per half-year
Rs. 1,11,000 per year
The government had recently reduced the interest rate on post office monthly
scheme to 6.6 per cent while the RBI Taxable bonds and SCSS are available at
7.75 per cent per annum and 7.4 per cent respectively. One may decide to
diversify across these investments after keeping the regular income need,
taxation and liquidity into consideration.
