Question
Under Pradhan Mantri Vaya Vandana Yojana (PMVVY) what is
the minimum monthly purchase price?Solution
PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from May 04, 2017 to March 31, 2023Â Â
Under this scheme an initial lump sum payment of any amount between Rs.1.5 lakh to Rs.15 lakh will entitle the individual for a monthly pension of Rs.1,000 per month to Rs.9,250 per month depending on the payment made. The details of maximum and minimum purchase price and pension is sumamrised below: Â
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