LIC Pension Scheme: This plan enables you to get Rs.18500 a month from the government

LIC Pension Scheme: The Modi government is in charge of managing the Pradhan Mantri Vaya Vandana Yojana. This guarantees a monthly pension. On May 26, 2020, the central government launched this programme. Couples can invest up until March 31, 2023, to benefit from this programme. After turning 60, a husband and wife can benefit from it if they so choose. Understand the entire plan.

What is Vaya Vandana Yojana?

A social security programme is called Pradhan Mantri Vaya Vandana Yojana. This stipulates how often the beneficiary will receive a pension. It was introduced by the Indian government, and Life Insurance Corporation of India is in charge of running this programme (LIC).

The maximum amount that a husband and wife can invest if they are both over 60 is Rs 15 lakh. The investment cap was initially quadrupled from Rs 7.5 lakh. Seniors show more interest in this programme than they do in other programmes. This pension plan is available to anyone who are 60 years old or older.

How to get 18500 per month?

In order to participate in this programme, both the husband and the wife must contribute a total of 30 lakh rupees, or 15 lakh rupees each, to the Pradhan Mantri Vaya Vandana Yojana. On this plan, there will also be an annual interest rate of 7.40 percent.

As a result, the investment will earn Rs 222000 in interest per year. You will receive an amount of Rs. 18500 as a monthly pension if it is divided into 12 equal payments. A strategy in this scheme stipulates that just one person may make an investment. His monthly annuity would be Rs 9250 if you invested Rs 15 lakh, and the annual interest would be Rs 111000.

LIC Pension Scheme: How much will you get after 10 years?

This programme is ten years long. Your deposited funds will still be used to get a monthly pension. Your invested funds will be returned to you after 10 years if you continue to participate in the scheme. This plan may be abandoned at any time.

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