Under the PM Pension Yojana, Indian citizens above 60 can now receive an annual pension of up to Rs 1,11,000. It is a type of pension scheme, exclusively for senior citizens aged 60 or above. Earlier, this scheme was available from May 4, 2017, to March 31, 2020, but now it has extended till March 2023. The PM pension yojana aims to make elderly people financially independent.
How To Apply For PM Pension Yojana?
1: Life Insurance Corporation (LIC) is entrusted with this scheme.
2: Invest a lump sum amount for pension under this scheme opting for monthly, quarterly, half-yearly, or yearly pension.
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3: Maximum investment is Rs 15 lakh in the scheme.
4: For a monthly pension of Rs 1,000, the subscriber must invest Rs 1.62 lakh.
5: The maximum monthly pension is given Rs 9,250, the quarterly is Rs 27,750, the half-yearly pension is Rs 55,500 and the annual pension is Rs 1,11,000.
6: PM Vaya Vandana Yojana scheme is exempted from service tax and GST.
7: Premature withdrawal is allowed for treatment of any serious or terminal illness or spouse.
You can dial 022-67819281 or 022-67819290 for more details. You can also dial the toll-free number – 1800-227-717.
