Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2025: A Safe Pension Scheme 

Pradhan Mantri Vaya Vandana Yojana is intended for senior citizens. In the year 2018, it was announced on August 21st, under the leadership of India’s Prime Minister Narendra Modi. It is a scheme that invests in a way that provides monthly payouts for ten years. So making this an investment will enable you to receive regular monthly payments for over 10 years from the date your deposit amount is determined; this is offered as a pension to its holders by the government through the Life Insurance Corporation (LIC). Despite its name, this program does more than simply offer pensions–it also provides life insurance coverage

PMVVY is a retirement and pension plan that is run and administered by the Life Insurance Corporation of India (LIC), which is the largest life insurance provider in the country. The Pradhan Mantri Vaya Vandana Yojana scheme was available for sale until March 31, 2023. Here are all the details you may want to know about the scheme.

Mode of Pension Payment	Minimum amount of Purchase Price (investment)	Minimum Pension amount against the Purchase Price	Maximum Purchase Price (investment)	Maximum Pension amount against the Purchase Price
Monthly	Rs.1,62,162	Rs.1,000	Rs.15,00,000	Rs.9,250
Quarterly	Rs.1,61,074	Rs.3,000	Rs.14,89,933	Rs.27,750
Half-Yearly	Rs.1,59,574	Rs.6,000	Rs.14,76,064	Rs.55,500
Yearly	Rs.1,56,658	Rs.12,000	Rs.14,49,086	Rs.1,11,000

Also Read:- Pradhan Mantri Matru Vandana Yojana | Pradhan Mantri Kisan Credit Card

Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2025 Benefits

Mentioned underneath are the benefits of the Pradhan Mantri Vaya Vandana Yojana 2025:

• In this scheme, the retired person will get a return of 8% p.a. for the arrangement length of 10 years.
• If the pension person survives the length of the approach then the pension will paid back. The retired person can moreover select the mode by which the pension must be made.
• If the retired person passes away the buy cost will be paid back to the recipient. 
• The buy cost will be paid along with the last pension installment If the retired person survives the whole approach to residency.
• There are specific loans that are available for pensioners who have been on the scheme for three years. Any advance that is given does not exceed 75% of the total cost of the house. There is a deduction from every month’s pension payment to repay the loan interest. If you applied for your loan before 30 April 2018, you will pay 10% interest annually and in half-year intervals during the entire period of your policy.
• If the terms of an approach are not to the policyholder’s liking, he/she has 15 days to withdraw from the arrangement. However, if the policy was bought online then there is a free-look period of 30 days. The buying price would be refunded to the insured person after deducting stamp duty charges.

Eligibility for Pradhan Mantri Vaya Vandana Yojana

Below we have mentioned the eligibility criteria for PMVVY:

• The individual applying should be from India. 
• No one specific is considered too old for the PMVVY scheme. 
• To qualify one must expect to reap benefits from the program’s ten years. 
• In the PMVVY scheme minimum pension is given: 1,000 rupees each month. 3,000 rupees at every three months 6,000 rupees every six months 12,000 rupees each year.

Below is the most elevated pension rate given by PMVVY or Pradhan Mantri Vaya Vandana Yojana (PMVVY). 

• The monthly pension is Rs 9,250; every quarter it is Rs 27,750; for a half-yearly pensioner receives Rs 55500 
• while yearly pensioner gets 111000 rupees. 
• The maximum purchase price for pmvvy should not exceed 15 lakhs rupees.

Documents Required to Apply for Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Documents required to apply for Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Some of the documents are essential to verify the eligibility of the applicants to get the benefit of the pension under the scheme. You must ensure that all the documents are self-centered and submitted along with the filled application form. If you want to apply for Pradhan Mantri Vaya Vandana Yojana, then senior citizens need to submit the following documents:

1. Proof of age and identity

Senior citizens are required to have Aadhaar cards, PAN cards, passports, and voter IDs.

2. Proof of address

Aadhar card, passport, utility bills, and voter ID are also required.

3. Bank account details

Applicants must have a canceled cheque and a copy of the first page of their passbook.

4. Photographs 

Recent passport-size photograph of the applicant.

5. Proof of retirement 

If required then relevant documents or declaration of their retirement.

Other Schemes:- Pradhan Mantri Jeevan Jyoti Bima Yojana | Pradhan Mantri Suraksha Bima Yojana

How to Apply for Pradhan Mantri Vaya Vandana Yojana (PMVVY)?

To apply for the Pradhan Mantri Vaya Vandana Yojana (PMVVY), follow the steps below – The offline option is available for those who want to get an LIC policy. 

The LIC Department should be visited to buy this scheme by offline means. Buy cost or annuity payout must be decided upon and the application form filled out with the required documentation returned.

For online mode:

• Within the LIC’s official website On the site, select the option “Purchase Online Arrangements” and subsequently 
• click on the button “Tap here”. 
• From under the Buy Approach Online menu, opt for the ‘Pradhan Manti Vaya Vandana Yojana’ option. 
• A new page will pop up after that. From the menu, select “Press to Purchase Online.” 
• Once you have added your details, the contact data should be followed by tapping on “Continue”. 
• Lastly, submit your affiliate registration application online, upload these important documents, and then press “Yield”.

Offline Procedure:

If you want to apply for the Pradhan Mantri Vaya Vandana Yojana (PMVVY) through the offline method, then you can follow these steps:

1. Locate the Nearest LIC Branch:
   You can visit your nearest Life Insurance Corporation (LIC) branch.
   
2.  Application Form:
   Ask for the PMVVY application form from your nearest LIC branch.
   
3. Fill details:
   Fill in all required details in the application form properly.
   
4. Attach Documents:
   Attach the following documents:
   • Proof of Age and Identity: Aadhaar Card, PAN Card, Passport, or Voter ID.
   • Proof of Address: Aadhaar Card, Passport, Utility Bills, or Voter ID.
   • Bank Account Details: Cancelled Cheque or Bank Passbook’s First Page Copy.
   • Photographs: Recent Passport-size Photographs.
   • Proof of Retirement (if applicable): Relevant Documents or Declaration.
     
5. Submit the Application:
   After filling in all the necessary details, you can hand over the completed application form, along with the attached documents, to the LIC branch.
   
6. Payment:
   After submitting you have to pay the purchase price for the chosen pension plan. Payment can be made by cheque, demand draft, or other modes as specified by LIC.
7. Receive Acknowledgment:
   After your application form is submitted and verified, you will obtain an acknowledgment receipt from LIC.
8. Policy Issuance:
   Upon successful processing, LIC will issue the PMVVY policy document.

Must Read:- Pradhan Mantri Suraksha Bima Yojana | Pradhan Mantri Suraksha Bima Yojana

How to Check PMVVY 2025 Policy Details

If any applicant wants to access the details of their Pradhan Mantri Vaya Vandana Yojana (PMVVY) policy, then they can use the following methods:

1. LIC Customer Portal:

• Registration:
  
  • Visit the official website of the yojana
    
  • Then click on New User to register. You have to provide your policy number, date of birth, and other required details.
    
• Login:
  
  • After registration, you can log in with your username and password.
    
  • Then go to the Policy Status section to view comprehensive details of your Pradhan Mantri Vaya Vandana Yojana policy.
    

Maximum and Least Buy and Pension Price

The lowest cost of buying is Rupees 162,162 for which a policyholder shall get a monthly pension worth Rs.1000 at the indicated rate of interest for a regular mode of pension arrangement, that is to say, 7.40 % p.a. The amount of pension that one receives would depend on the cost he or she got it at. 

Another wonderful investment option available to elderly people is PMVVY. This scheme is apt for those older citizens who need their pension regularly. In any case, to contribute to this scheme, one ought to have a considerable amount in hand.

Contact Details for Inquiries Regarding the PMVVY Policy

If any applicant wants to do an  inquiry regarding the Pradhan Mantri Vaya Vandana Yojana policy, then you can contact through these channels:

LIC call center

• Phone: +91-22-68276827

They are available 24/7 in English, Hindi, and 8 regional languages.

Pradhan Mantri Vaya Vandana Yojana specific contact

• Phone: 022-67819281 or 022-67819290
  
• Email: onlinedmc@licindia.com
  
• Availability: Monday to Friday, 10:00 AM to 5:30 PM IST. 

LIC customer zones

If you want personal assistance then you can visit your nearest LIC customer zone. Here, services are available from Monday to Friday from 8:00 AM to 8:00 PM.

Corporate office

• Address: Yogakshema Building, Jeevan Bima Marg, P.O. Box No – 19953, Mumbai – 400 021
  

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