Pension Plan: Pension is like an invisible stick for old age, which makes senior citizens self-reliant. Through this, they are able to fulfill their small needs. There is an age to work, after 60 the body gets tired.
In such a situation, financial problems do not have to be faced, so planning has to be started well in advance. The central government is currently running many schemes, in which pension can be availed by investing. One of these special schemes is “PM Vaya Vandana Yojana”.
This is the calculation
PM Vaya Vandana Yojana can be availed by any Indian citizen of age 60 or above. Investors get the benefit of monthly pension ranging from Rs 1000 to Rs 9250. The amount of pension depends on the investment. In the scheme, both husband and wife can also open a joint account.
The maximum investment limit is Rs 15 lakh. If a person invests 15 lakhs at the age of 60 years, then he gets a pension of 9250 rupees for 10 years. The invested amount is returned with the final payment. Presently the scheme is getting 8% interest per annum. Investors can opt for monthly/quarterly/half-yearly/annual payouts.
Important things related to the plan
If the investor dies within 10 years of the scheme tenure, the purchase price is returned to the nominee. Interested persons can apply for the policy by visiting any branch of LIC. You can also apply online by visiting the official website of LIC. Tax GST tax exemption facility is also available in the scheme.
