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Wednesday, 22 January 2020

Put money in this scheme of Modi government, one month will get 10 thousand rupees pension

Guwahati

 The Modi government brought the Pradhan Mantri Vaya Vandana Yojana, in which one gets pension every month after investing money. However this scheme is for senior citizens. This scheme is a pension scheme for citizens 60 years and above. In this, you can buy it by paying a lump sum. The period to invest in it has been kept to 31 March 2020. Under this scheme, senior citizens will be given a monthly pension option with a guarantee of at least 8 percent for 10 years. If you opt for an annual pension then you will get 8.3% back for 10 years. The scheme exempts from GST.

 The scheme has been brought together with LIC. This scheme is going to provide a big relief to the retired people who depend on pension for their basic expenses. You can invest a maximum of Rs 15 lakh in it. On investing 15 lakhs, you will get a pension of 10 thousand rupees every month.

 - Under Section 80-C of Income Tax Act 1961, the amount deposited in this scheme is completely tax free.

 If you want to raise the pension every month, then 8 percent interest will be given. If you want to raise the entire amount of pension once in 1 year, you will get 8.3 percent interest.

 - The investment limit in this scheme is per senior citizen. If the husband and wife want, then both can invest 30 lakh rupees.

 - The term of this policy is 10 years. You have the option of whether you want pension every month, quarterly, half-yearly or yearly payments.

 - You do not need medical examination to take advantage of this plan.

 After 10 years of investing in this scheme, the deposit is also returned along with the final payment of pension. If the person receiving the pension dies within 10 years of purchasing the plan, the purchase price (deposit amount) is refunded to the designated person.

 To invest in Pradhan Mantri Vay Vandana Yojana, you have to submit some documents along with the form which are as follows- Copy of PAN card, copy of address proof (Aadhaar, passport etc.), copy of check or first page of bank passbook Copy so that pension money can come in your account.

 - However, to get more information related to this scheme, you can call the phone number 022-67819281 or 022-67819290. LIC has also issued toll free number 1800-227-717 for this.

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