PMVVY pension scheme for senior citizens ends March 31st, last time to invest

PMVVY 31 March Deadline: The Pradhan Mantri Vaya Vandana Yojana is a pension scheme for senior citizens launched by the Central Government. This scheme provides investors with the security of guaranteed returns every month and is being run through the Life Insurance Corporation of India. However, the deadline for this scheme is March 31, and LIC has not made any decision to extend it.

Under this scheme, the amount of pension received depends on the amount invested. One can get a pension ranging from Rs 1,000 to Rs 9,9,250. If both husband and wife invest in this scheme, they can get a pension of Rs 18,300. Interest is received at the rate of 7.4 percent on the amount invested in this scheme.

The investment limit in the scheme ranges from Rs 1.5 lakh to Rs 15 lakh, and money can be invested in this scheme for a total of 10 years. The pension can be received monthly, quarterly, half-yearly, or annually. The scheme will be closed from 1st April, so this is the last chance for investors to take advantage of it.

Investors can invest in the Pradhan Mantri Vaya Vandana Yojana both online and offline. They can visit any LIC branch to buy it offline, or they can invest in LIC's website online. In the event of an investor's death before the maturity of the scheme, the money will be given to the nominee.

Read more: NPS Update: FM Nirmala Sitharaman forms committee to improve NPS for government employees