Today we are going to tell you about a plan of the Prime Minister. If you are also thinking of a plan to invest in pension scheme, then this plan is the best in it. Great returns and a pension of Rs 10,000 per month. The Central Government's Pradhan Mantri Vaya Vandana Yojana (PMVVY) is an excellent pension scheme where you get up to 8.5% returns. But keep in mind that this policy is only open until 31 March 2020.
Guaranteed pension will be paid at the fixed rate of 10 years for investment in this scheme. In case of death of the investor, his nominee gets death benefit in the scheme as a return of the purchase price. Citizens above 60 years of age can invest in this scheme, while there is no maximum age limit to invest. Let us know about this scheme in detail.
Whatever decision you take during the 10-year policy, you will get a pension at the end of it. If the pension person dies within a period of 10 years, the purchase price will be returned to the beneficiary. On maturity the surviving pensioner will be paid the purchase price along with the final pension installment at the end of 10 years. In special circumstances such as the treatment of your spouse, it is permissible to withdraw from the plan prematurely during the policy period.
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In such cases you will be given 98 percent of the 'purchase price'. On completion of 3 years of the policy, the pensioner can also take a loan up to 75 percent of the 'purchase price' of the policy. Loan interest will be recovered from the payment of pension.
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