Pradhan Mantri Vaya Vandana Yojana | PM Vaya Vandana Yojana | Who can benefit from Pradhan Mantri Vaya Vandana Yojana 2023?

Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Pradhan Mantri Vaya Vandana Yojana (PMVVY): Many schemes have been launched by the Government of India, including Widow Sahay Yojana for widow sisters, Vridha Sahay Yojana for the elderly, Digital Scholarship Yojana for students, PM Kisan Yojana for farmers etc. welfare schemes for all citizens. But today we will talk about the scheme for senior citizens.

Government of India has launched a new Pradhan Mantri Vaya Vandana Yojana 2023. In which the elderly will get a minimum pension of Rs 1000 per month. What is this pension scheme?, how can you apply in this scheme. What is the eligibility of the applicant?, What is the required document? All such information is given here further in this article.

Pradhan Mantri Vaya Vandana Yojana (PMVVY) Highlights 

  • Name of the scheme - Pradhan Mantri Vaya Vandana Yojana
  • Who initiated the plan? - Government of India
  • purpose - To make the old self-reliant by giving pension
  • benefit - Old age above 60 years will get pension.
  • year - 2023
  • Official website - https://licindia.in/
  • Category - Government Scheme 

What is PMVVY scheme | Pradhan Mantri Vaya Vandana Yojana

The scheme was launched on 4 May 2017 for senior citizens. Pradhan Mantri Vaya Vandana Yojana 2023 will benefit senior citizens aged 60 years or above. To avail this scheme, the applicant has to apply on the official website of LIC or at your nearest branch. After that one has to invest in the scheme for a specified period of time. In which you will get pension including interest. In this scheme, you will get a pension of up to 15 lakh rupees. The benefits of this scheme and application process are given below.

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Objective: Pradhan Mantri Vaya Vandana Yojana

The only purpose of this scheme is that old people can get pension. Any old person who wants pension in this scheme. They have to first apply and deposit the amount for this scheme within a period of 10 years. After that they will get monthly, quarterly, yearly pension every year. With this scheme, the elderly will not need to depend on others. They will be able to earn their own living.

Eligibility: PMVVY Scheme

The Eligibility of this scheme are as follows:
  • Applicant must be a resident of India.
  • Minimum age of the applicant should be 60 years.
  • Maximum age of the applicant is not fixed.
  • The LIC policy tenure in this scheme is 10 years. However, after purchasing the policy the beneficiary can close it even before 10 years as per policy rules.
  • This scheme can be applied both online and offline.
  • The last date to apply under this scheme was 31/03/2020, which has been extended to 31/03/2023,
  • Earlier in this scheme maximum Rs. 7,50,000/- amount could be invested, which could be increased to Rs. 15,00,000/- has been increased.
  • Beneficiary of this scheme can get monthly, quarterly, half yearly and yearly pension.
  • In this scheme, the beneficiary has a minimum monthly income of Rs. 1,000 and a maximum of Rs. 9,250 can get pension upto.
  • Beneficiaries are exempted from GST under this scheme.
  • In this scheme, if the beneficiary dies within 10 years of the term, the amount deposited in the policy is given to the heirs of the policy holder.
  • Under this scheme, even if the policy holder commits suicide, the deposit is given to his heirs.

Required Documents: Pradhan Mantri Vaya Vandana Yojana

Some documents are prescribed in advance to avail this scheme. The list of which is as follows.
  • Passport size photograph
  • Aadhaar Card
  • PAN Card
  • Mobile number
  • Proof of age
  • Income certificate
  • Proof of residence
  • Bank passbook

Benefits: PMVVY Scheme

  • Pradhan Mantri Vaya Vandana Yojana will greatly benefit senior citizens.
  • Old people will get money from this scheme at fixed and time of need.
  • Pension up to 15 lakhs will be available in this scheme.
  • The application date for this scheme is 31 March 2023.
  • Applicants can apply online and offline in this scheme.
  • The applicant can make monthly, quarterly and annual payments for this scheme.

What is the online application process? Pradhan Mantri Vaya Vandana Yojana

Apply online to avail PMVVY 2023. All the process for which is as follows.
  1. To apply in this scheme, the applicant has to go to the official website of LIC https://digisales.licindia.in/eSales/liconline/setprop?plan=856 .
  2. There you have to click on the button of Click To Buy Online for more information about this scheme .
  3. After that upload the required documents.
  4. And click on proceed button so you can apply for this scheme.

What is the ofline application process? PMVVY Scheme

  1. To apply online in this scheme, the applicant has to go to the nearest LIC Centre.
  2. From there one has to take the Pradhan Mantri Vaya Vandana Yojana application form and fill the necessary information and also attach the necessary documents with it.
  3. After that hand over this form to the prescribed officer.
  4. This way you can apply online.

Pradhan Mantri Vaya Vandana Yojana Apply Online Video 

Contact Information

If you face any confusion while applying in this scheme, you can call the number given below to get the solution.
  • TOLL FREE: 1800-227-717
  • EMAIL: onlinedmc@licindia.com

FAQ

What is Pradhan Mantri Vaya Vandana Yojana?

This is a type of pension scheme, which will benefit the senior citizens above 60 years of age.

For how many years to pay the amount of Pradhan Mantri Vaya Vandana Yojana?

The amount of this scheme has to be paid up to 10 years.

What is the purpose of PMVVY ?

The objective of this scheme is to provide pension assistance to the elderly.

What is the helpline number of Pradhan Mantri Vaya Vandana Yojana ?

The helpline number for this scheme is: 1800-227-717.

Can this Pradhan Mantri Vaya Vandana Yojana be applied offline?

Yes, offline application can be made for this scheme.

Conclusion

For the purpose of this article only Pradhan Mantri Vaya Vandana Yojana (PMVVY) Scheme information is provided, and does not claim to be affiliated with any government website. For official information one can visit the official website.