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
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Documents Required for PM Vaya Vandana Yojana (PMVVY)
How to Apply for PM Vaya Vandana Yojana (PMVVY) Online?
- 1Visit the official portal at https://licindia.in
- 2Click on Apply Now or Register button on the homepage
- 3Enter your Aadhaar-linked mobile number and verify OTP
- 4Fill in the online application form with required details
- 5Upload the required documents including Aadhaar and bank passbook
- 6Review all details and submit the application
- 7Note down the application reference number for future tracking
- 8Wait for verification and approval from the concerned authority
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)
Common Questions About Finance Schemes
What is covered under PMSBY?+
Death or total permanent disability due to accident gets ₹2 lakh. Partial permanent disability gets ₹1 lakh.
How to enroll in PM Suraksha Bima Yojana?+
Contact your bank branch or enroll through internet banking/mobile app to activate this insurance with just ₹20/year deducted automatically.
What are the four categories under PM Mudra Yojana in 2026?+
Shishu: up to ₹50,000 for new startups; Kishore: ₹50,001 to ₹5 lakh for growing businesses; Tarun: ₹5 lakh to ₹10 lakh for established businesses; Tarun Plus (launched 2024 Union Budget): ₹10 lakh to ₹20 lakh for those who successfully repaid a Tarun loan.
Which banks offer Mudra loans?+
All PSU banks (SBI, PNB, BOB, etc.), private banks, Regional Rural Banks (RRBs), Microfinance Institutions (MFIs), and NBFCs are registered Mudra lenders. Apply at any branch or online at udyamimitra.in.
How much pension will I get under APY?+
Depending on the pension plan (Rs.1K to Rs.5K/month) and your age at enrollment, your monthly contribution varies. Example: For Rs.5,000/month pension — if you join at age 18, contribute Rs.210/month; at age 30, contribute Rs.577/month; at age 40, contribute Rs.1,454/month.
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