LIC Pradhan Mantri Vaya Vandana Yojana

Pradhan Mantri Vaya Vandana Yojana (Plan No: 842) from LIC

Pradhan Mantri Vaya Vandana Yojana is Pension plan for Senior citizen announced by Government of India. This plan is government subsidized pension scheme which will avail guaranteed 8% return in monthly mode and 8.3% return in yearly mode. This plan plan can be purchased from LIC up to 03-05-2018.

Plan Parameters

Age at Entry60 Years (Completed)
Maximum Age at EntryNo Limit
Policy Term10 Years (Fixed)
Pension Receiving ModeMonthly, Quarterly, Half Yearly or Yearly
Proposal Form 

Pension benefit

  • Pensioner will receive pension amount as per selected mode. Pension will be available on completion of selected mode, for example, in case of monthly mode, pension will be paid on completion of month.

This plan can be purchsed on payment of single one time amount, the minimum and maximum limit of one time lumpsum amount is given in the following table

ModeMinimumMaximum
AmountPensionAmountPension
Yearly1,44,57812,0007,22,89260,000
Half Yearly1,47,6016,0007,38,00730,000
Quarterly1,49,0683,0007,45,34215,000
Monthly1,50,0001,0007,50,0005,000

Please use following calculator to calculate pension as per your choice of amount and pension mode.

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