PM Vaya Vandana Yojana (PMVVY) — Quick Overview
| Scheme Name | PM Vaya Vandana Yojana (PMVVY) 2026 — Guaranteed 7.4% Pension for Senior Citizens via LIC | licindia.in |
| Launched By | Government of India |
| Launch Year | 2017 |
| Benefit | Guaranteed 7.4% pension p.a. for 10 years | Max investment ₹15 lakh (₹30 lakh per couple) | Max monthly pension ₹9,250 | Full purchase price returned after 10 years |
| Category | Finance |
| Last Verified | 2 May 2026 |
| Official Portal | https://licindia.in |
What is PM Vaya Vandana Yojana (PMVVY)?
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a government-backed pension scheme exclusively for senior citizens aged 60 years and above, administered by LIC of India. PMVVY provides guaranteed pension income at 7.4% per annum for 10 years — payable monthly, quarterly, half-yearly, or annually — regardless of market conditions. Launched by PM Modi in 2017 and extended in subsequent phases, it allows investment of up to ₹15 lakh per senior citizen (₹30 lakh per couple), giving a maximum monthly pension of ₹9,250 per month. After 10 years, the full purchase price is returned to the investor or to their nominee on death. In case of critical illness, premature exit is permitted with 98% of purchase price returned.
Under this scheme, eligible beneficiaries receive Guaranteed 7.4% pension p.a. for 10 years | Max investment ₹15 lakh (₹30 lakh per couple) | Max monthly pension ₹9,250 | Full purchase price returned after 10 years. The scheme was launched in 2017 and is implemented by the Government of India.
PMVVY — LIC द्वारा 60+ senior citizens के लिए guaranteed 7.4% pension। Maximum ₹15 lakh invest — ₹9,250/month maximum pension। 10 साल guaranteed। बाद में full amount वापस। licindia.in पर apply।
7.4% guaranteed pension — 10 साल — max ₹15 lakh invest — max ₹9,250/month — 10 साल बाद full amount वापस — LIC administered
Benefits of PM Vaya Vandana Yojana (PMVVY)
Guaranteed 7.4% pension p.a. for 10 years | Max investment ₹15 lakh (₹30 lakh per couple) | Max monthly pension ₹9,250 | Full purchase price returned after 10 years
Who is Eligible for PM Vaya Vandana Yojana (PMVVY)?
- ✓Age 60 years or above (no upper age limit)
- ✓Indian citizen (NRI also eligible — subject to FEMA)
- ✓Minimum investment: ₹1,56,658 (for ₹1,000/month pension)
- ✓Maximum investment: ₹15,00,000 per senior citizen (₹30 lakh for couple)
- ✓Pension modes: monthly, quarterly, half-yearly, or annual
- ✓Note: Check current PMVVY phase availability with LIC — scheme reopens periodically
Documents Required for PM Vaya Vandana Yojana (PMVVY)
How to Apply for PM Vaya Vandana Yojana (PMVVY) Online?
- 1licindia.in → PMVVY scheme page पर जाएं या nearest LIC branch visit करें
- 2Investment amount decide करें (₹1.56 lakh to ₹15 lakh)
- 3Pension mode select करें — monthly (max ₹9,250) / quarterly / half-yearly / annual
- 4Aadhaar + age proof + PAN + bank passbook के साथ application submit करें
- 5Cheque / NEFT से purchase price pay करें
- 6LIC policy bond receive करें — pension agreed date से शुरू होगी
Official Government Portal
Apply directly on the official government website. This is the only authorised portal — never pay anyone to apply on your behalf.
🔗Apply on licindia.inFrequently Asked Questions — PM Vaya Vandana Yojana (PMVVY)
Related Finance Schemes
PM Suraksha Bima Yojana — ₹2 Lakh Accident Insurance
PMSBY provides accidental death and disability insurance cover of ₹2 lakh for just ₹20 per year, renewable annually through bank auto-debit.
Atal Pension Yojana 2026 — Guaranteed ₹1,000–₹5,000 Monthly Pension | APY Registration
Atal Pension Yojana provides a guaranteed monthly pension of Rs.1,000 to Rs.5,000 after age 60 to unorganized sector workers. Over 7 crore subscribers enrolled. Small monthly contributions from age 18 ensure a dignified retirement income. Contributions also qualify for Section 80CCD(1B) tax deduction up to Rs.50,000.
PM Jeevan Jyoti Bima Yojana 2026 — Rs.2 Lakh Life Insurance at Rs.436/Year
PM Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed renewable term life insurance scheme that offers Rs.2 lakh death cover for any cause at just Rs.436 per year. The premium is automatically debited from the subscriber's savings bank account every year between 25 May and 31 May. Launched in 2015 under Pradhan Mantri Jan Suraksha Yojana, the scheme is available to all bank account holders aged 18 to 50 years and is administered through partner public and private sector banks.
PM Jan Dhan Yojana 2026 — Zero Balance Bank Account + ₹2 Lakh Insurance
Pradhan Mantri Jan Dhan Yojana (PMJDY) is India's largest financial inclusion scheme with 56+ crore accounts. Any Indian citizen can open a zero-balance savings account with free RuPay debit card, ₹2 lakh accident insurance, ₹30,000 life insurance, and ₹10,000 overdraft facility.