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                      LIC  SENIOR CITIZEN PENSION PLAN - PRADHAN MANTRI VAYA VANDANA YOJANA Plan No 842 (PMVVY 2017)

​​​Eligibility Conditions and Restrictions for purchase of Senior Citizen Pension Plan, the Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017) as to Age, Term, and Quantum of Pension is as follows.

S.noPARAMETERSAGE & PENSION
1.  Minimum Age 60 Years Completed
2.Maximum Entry AgeNo Limit
3.Policy Term10 Years
4.Minimum Pension₹ 1,000.00 per Month


₹ 3000.00 per Quarter


₹ 6,000.00 per Half-Year


₹ 12,000.00 per Year
5.Maximum Pension₹ 5,000.00 per Month


₹ 15,000.00 per Quarter


₹ 30,000.00 pfer Half-Year


₹ 60,000.00 per Year


​​​Ceiling of maximum pension is for a family as a whole i.e. total amount of pension under all the policies allowed to a family under this plan, shall not exceed the maximum pension limit. The family for this purpose will comprise of pensioner, his/her spouse and dependents .


MODE OF PENSION PAYMENT IN PMVVY - Plan No 842.

AGE PROOF | MEDICAL EXAMINATION | KYC-AML | for PMVVY - PENSION PLAN No 842

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WhatsApp: +91 9000759933

​Email: makelicpolicy@gmail.com

ELIGIBILITY CONDITIONS & RESTRICTIONS FOR PMVVY - PENSION PLAN NO 842

benefits of pradhan mantri vaya vandana yojana - plan no 842

LIC's NEW SENIOR CITIZEN PENSION PLAN, THE PRADHAN MANTRI VAYA VANDANA YOJANA PLAN NO 842 (PMVVY 2017)

​​​​​PRADHAN MANTRI VAYA VANDANA YOJANA Plan no 842 - PENSION PLAN

​​​​​​​​​​​​​​​​​​​​​​The New subsidized Pension Plan announced by Central Government of India for Senior Citizens Aged 60 and above - Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017) has been launched with immediate effect from 4th May 2017 as promised in the Budget. This plan will be available for sale upto 3rd May, 2018. This is a Government subsidized pension Scheme which shall provide an assured return of 8%p.a. payable monthly (i.e. equivalent to 8.30% p.a.) on the pensioner surviving during the policy term of 10 years.

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​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ The Benefits payable under Senior Citizen Pension Plan, the Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017), are.

  1. PENSION PAYMENT: On survival of the Pensioner during the policy term, Pension in arrears (at the end of each period as per mode chosen by the Pensioner) shall be payable.
  2. DEATH BENEFIT: On death of the Pensioner during the policy term, the Purchase Price shall be refunded to the nominee/legal heirs.
  3. ​MATURITY BENEFIT: On survival of the pensioner to the end of the policy term, Purchase price and the final pension installment shall be payable.
  4. PENSION RATES: The pension rates are not age specific and the rate of pension for Rs.1000/- purchase price for different modes of pension payments are as below.
    S.noMODEPENSION PAYMENT
    1.Yearly ₹ 83.00 P.A
    2.Half - Yearly₹ 81.30 P.A
    3.Quarterly₹ 80.50 P.A
    4.Monthly₹ 80.00 P.A
    The pension installment shall be rounded off to the nearest rupee.
  5. PURCHASE PRICE: The plan can be purchased by payment of a lump sum Purchase Price. The pensioner has an option to choose either the amount of pension or the Purchase Price. The Purchase Price payable shall be accepted by cheques/drafts payable on the Branch of the Bank which is member of the Local  / CTS / Speed Clearing Center. The minimum and maximum Purchase Price under different modes of pension will be as under:
    S.noMODE OF PENSIONMINIMUM PURCHASE PRICEMAXIMUM PURCHASE PRICE
    1.Yearly₹ 1,44,578.00₹ 7,22,892.00
    2.Half-Yearly₹ 1,47,601.00₹ 7,38,007.00
    3.Quarterly₹ 1,49,068.00₹ 7,45,342.00
    4.Monthly₹ 1,49,068.00₹ 7,50,000.00
  6. ​​FOR PENSION PAYMENT: The Pensioner shall submit the Life Certificate in the proforma of the Corporation or online "Jeevan Pramaan" as enabled by Corporation in this regard at the time intervals as prescribed from time to time. The pension payments shall be released only on receipt of the Life Certificate.


Buy LIC's Senior Citizen Pension Plan, the Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017)© All Rights Reserved. WhatsApp: +919000759933. Email: makelicpolicy@gmail.com

​​​​​​​​​​Mode of Pension payment under Senior Citizen Pension Plan, the Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017) shall be Monthly, Quarterly, Half-Yearly or Yearly, the plan announced by Government of India.


The pension payment shall be through NEFT or Aadhaar  Enabled Payment System .

 The first instalment of pension shall be paid after 1 year, 6 months, 3 months, or 1 month from the date of purchase of the same depending on the mode of pension payment i.e. yearly , half­ yearly , quarterly or monthly respectively.

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Apply / Propose Pradhan Mantri Vaya Vandana Yojana Plan 842 Online - A SENIOR CITIZEN PENSION PLAN

The submission requirements for the subsidized Senior Citizen Pension Plan, the Pradhan Mantri Vaya Vandana Yojana Plan No 842 (PMVVY 2017) are

  1. ​​​​​​​​​AGE PROOF RERQUIREMENT: - The Pradhan Mantri Vaya Vandana Yojana - Pension Plan No 842 is allowed to proponents submitting standard age proof as well as non standard age proofs including Self-Declaration.
  2. MEDICAL EXAMINATION: Medical examination is not required.
  3. KYC/AML NORMS: KYC & AML norms are strictly followed as per KYC/AML policy. The ascertained source of funds may be accumulated savings like bank fixed deposits, maturity proceeds of postal savings, claim proceeds of insurance policies, retirement benefits of self/spouse , sale of property, financial assets, compensation received from- any authority etc.

     At the time of registration, Aadhaar number, bank account linked with Aadhaar number and mobile no. may be insisted as far as possible, in view of future provision of Aadhaar enabled payment system.

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​​​​​​​​​​Fill the following Online form to apply for Pradhan Mantri Vaya Vandana Yojana Plan 845 in Hyderabad. After receiving the information, LIC Official would call you and fix the appointment and shall send the authorized Life Insurance LIC Advisor to your place, to discuss, explain, and clarify any doubts that you may have. After thorough contemplations, LIC Proposal Form is offered to sign and necessary documents are collected along with the premium in the form of Bank's Cheque. Enjoy Happy retireament with additional subisidized pension scheme form government of India - Pradhan Mantri Vaya Vandana Yojana Plan No 842. You can also send the follwing information through contact of Whatsapp: +919000759933.

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