Pradhan Mantri Vaya Vandana Yojana

Introduction:

Government of India in the Budget Speech of 2018-19 has announced the enhancement of maximum limit under Pradhan Mantri Vaya Vandana Yojana to Rs. 15 lakhs per senior citizen. The period of sale for this scheme has also been extended upto 31st March, 2020.




Benefits :

• Pension Payment :
  

  On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable.

• Death Benefit:
  On death of the Pensioner during the policy term of 10 years, the Purchase Price shall be refunded to the beneficiary.
• Maturity Benefit:
  On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.



Mode of pension payment:


The modes of pension payment are monthly, quarterly, half-yearly & yearly. The pension payment shall be through NEFT or Aadhaar Enabled Payment System.
The modes of pension payment are monthly, quarterly, half-yearly & yearly. The pension payment shall be through NEFT or Aadhaar Enabled Payment System.