About PMVVY
PM Vaya Vandana Yojna is a Pension scheme to protect Senior Citizens from unpredictable market conditions and to provide them with a certain level of financial security.
Eligibility criteria
To invest in the PMVVY Pension schemes, the applicant must be above 60 years of age Indian citizen Applicant Should Be ready to avail of the policy terms of 10 years.
Full Overview of Atal Pension Yojna
| Name of Scheme | Pradhan Mantri Vaya Vandana Yojana |
| Launched by | Hon’ble Prime Minister Of India, Narendra Modi |
| Covered Area | All India |
| Implementation | 2017 |
| Objectives | Provide pension basis Policy Holder Investments |
| Incentive | 7.5% annual interest On Investment |
| Beneficiary | Retired Policy Holder |
| Application Starts | Always Open |
| Process | Offline/Online Registration |
| Official Website | https://Licindia.in/ |
Benefits PMVVY Scheme
PMVVY offers a guaranteed payout with an assured return of 7.50% per annum (this is for 2020-2021)
This annual interest can be changed by the declaration of PM.
Required Documents
- Aadhaar card
- Proof of age
- Proof of address
- Passport size photo of the applicant
- Documents indicating that the applicant has retired from employment
How To Apply For PMVVY Scheme
This Scheme Can be applied online and offline both
Here is the process of how to apply in Online
- Go to https://Licindia.in/
- Click Buy Policy Online
- Click Pradhan Mantri Vaya Vandana Yojna
- Now you will see the form
- Submit it along with the required documents
Offline Process
Go to the Nearest LIC branch Office and Say to the LIC Executive that You want To buy A PMVVY insurance. They will do your work