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Good News for Senior Citizens! Can get annual pension up to Rs 1.11 lakh

New Delhi: There may be excellent news for senior residents. People above 60 years of age can get an annual pension of as much as Rs 1,11,000 below the PM Vaya Vandana Yojana – the mainstay of outdated age. The scheme restrict was until March 31, 2020, nevertheless it has been prolonged until March, 2023. PM Vaya Vandana Yojana was launched to make aged folks financially unbiased on the essential stage of their life.

The varied options of PM Pension Scheme are as follows: Life Insurance Company (LIC) is entrusted with the operation of the scheme. A lump sum quantity must be invested on this scheme for pension. Beneficiaries can select for month-to-month, quarterly, half-yearly or annual pension. The utmost funding that may be made on this scheme is Rs 15 lakh. The utmost month-to-month pension below this scheme is Rs 9,250, quarterly Rs 27,750, half yearly pension of Rs 55,500 and annual pension of Rs 1,11,000.

If the investor dies through the time period of the coverage, his/her nominee will get the whole quantity invested. For a month-to-month pension of Rs 1,000, the subscriber has to speculate Rs 1.62 lakh. The PM Vaya Vandana Yojana scheme is exempted from service tax and GST. Untimely withdrawal is allowed for any critical or incurable illness or therapy of partner. In case of enquiry, dial 022-67819281 or 022-67819290. The toll free quantity is 1800-227-717.

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